Our Katahdin FY2021 filing

Tax-deductible

Millinocket, ME501(c)(3)Since 2014Community DevelopmentEIN 47-2382072

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Assisting with community and economic development in the Katahdin region of Maine.

501(c)(3) charity; gifts are tax-deductible.
82¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average surplus $137K a year · 5% of revenue · last 5 filings
Worth a look: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
82%
of spending
Looks good: 82% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
3 mo
of spending, in cash
Looks good: 3.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $12K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$639K
55% of total assets
Fine: liabilities are 55% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.5M
-6% vs prior year
Spent
$1.8M
To programs
82%
Net assets
$531K
By yearFY2020–FY2024
Revenue
$1.5M
FY2021▼ -6%
Revenue by fiscal year
FY2020$1.6M
FY2021$1.5M
FY2022$1.8M
FY2023$2.3M
FY2024$5.9M
Expenses
$1.8M
FY2021▲ +32%
Expenses by fiscal year
FY2020$1.3M
FY2021$1.8M
FY2022$2.2M
FY2023$4.7M
FY2024$2.5M
Net assets
$531K
FY2021▼ -17%
Net assets by fiscal year
FY2020$637K
FY2021$531K
FY2022$489K
FY2023−$1.5M
FY2024$1.9M

From the FY2021 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jan 2015.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

82 cents of each dollar spent went to programs.

Program services 82% · $1.4M Management & general 18% · $316K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

8 people listed on the 990.

Part VII, Section A · reportable compensation
President and Director
$0Pt VII · Sec A
Treasurer and Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Volunteer Officer
$0Pt VII · Sec A

Stephen Sanders’s $111K as Director of Mill Site Redevelopment is at the 25th percentile of top reported officer pay among 2832 $1–10M community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

See Our Katahdin executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo
  • Loans to or from officersSch L · Pt II7 listed

Programs and updates

Boosts community and economic growth in Maine's Katahdin region.

Provided by the organization

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3 program services account for $1.3M of program spending, described in the organization's own filed words · FY2021.
01

Paid to consultants and contractors for services related to community & economic development in the region.

$1.1Mprogram expense
02

Funds dispersed to "Mobilize Katahdin" organization to provide groceries, fuel assistance, and transportation services to residents of the Katahdin region of Maine during the Covid-19 pandemic.

$100Kprogram expense
03

Funds dispersed to "Four Directions Development Corporation" to improve the economic conditions of the Native American tribes in Maine.

$100Kprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2025
Total grants receivedfrom 2 funders$12K
Grants paid · 1 grant · $46K · 2023–2023
Gnp West INCFY2023$45,694

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$1.5M
Ln 12
Gifts and grantsLn 1h$1.0M
Other incomeLn 4–11$293K
Fees for servicesLn 2g$220K
Money outPt IX
$1.8M
Ln 25
Programscol B$1.4M
Managementcol C$316K
Owns and owesPt X
$531K
net assets · Ln 32
Cash and savingsLn 1–2$494K
Total assetsLn 16$1.2M
LiabilitiesLn 26$639K
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.0M
Government grantsLn 1e$132K
Noncash giftsLn 1g$0
Fundraising eventsLn 1c$0
Fees for servicesLn 2g$220K
Investment incomeLn 3$558
Other incomeLn 4–11$293K
Total revenueLn 12$1.5M
Assets in detailPt X, end of year
CashLn 1$494K
Cash and savings togetherLn 1–2$494K
Land, buildings, equipmentLn 10c$676K
Total assetsLn 16$1.2M
LiabilitiesLn 26$639K
Net assetsLn 32$531K
OperationsPt I, VI
EmployeesI 51
VolunteersI 612
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$284K$494K
Land, buildings, equipmentLn 10c$863K$676K
Total assetsLn 16$1.1M$1.2M
LiabilitiesLn 26$511K$639K
Net assetsLn 32$637K$531K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$70K$70K
Other employee benefitsLn 9$824$824
Legal feesLn 11b$6K$6K
Advertising and promotionLn 12$19K$19K
Office expensesLn 13$4K$4K
TravelLn 17$198$198
Payments to affiliatesLn 21$196K$196K
InsuranceLn 23$21K$21K
Other expenses (24a–d)Ln 24$1.4M$1.4M$44K$0
All other expensesLn 24e$25K$25K
Total functional expensesLn 25$1.8M$1.4M$316K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $5.9M$2.5M$3.4M$1.9M 990 PDF
FY2023 $2.3M$4.7M−$2.4M−$1.5M 990 PDF
FY2022 $1.8M$2.2M−$420K$489K 990 PDF
FY2021 Viewing $1.5M$1.8M−$212K$531K 990 PDF
FY2020 $1.6M$1.3M$309K$637K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (4 parts)
Part VIII · Statement of revenue $1,543,453 across 14 lines filed
Lines not itemized here account for $18,412 of total revenue; see the IRS return.
VIII-1a Federated campaigns$0
VIII-1b Membership dues$0
VIII-1c Fundraising events$0
VIII-1d Related organizations$117,095
VIII-1e Government grants$132,212
VIII-1f All other contributions, gifts and grants$780,667
VIII-1g Noncash contributions (included above)$0
VIII-1h Total contributions, gifts and grants$1,029,974
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $220,046 · Unrelated business $0 · Excluded from tax $0$220,046
VIII-3 Investment incomeRelated to mission $558 · Unrelated business $0 · Excluded from tax $0$558
VIII-5 RoyaltiesRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-6 Net rental income or lossRelated to mission $10,500 · Unrelated business $0 · Excluded from tax $0$10,500
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $263,963 · Unrelated business $0 · Excluded from tax $0$263,963
VIII-12 Total revenueRelated to mission $513,479 · Unrelated business $0 · Excluded from tax $0$1,543,453
Part IX · Statement of functional expenses $1,755,133 across 10 lines filed
IX-7 Other salaries and wagesPrograms $69,746$69,746
IX-9 Other employee benefitsPrograms $824$824
IX-11b Legal feesManagement $6,092$6,092
IX-12 Advertising and promotionManagement $18,611$18,611
IX-13 Office expensesManagement $4,357$4,357
IX-17 TravelManagement $198$198
IX-21 Payments to affiliatesManagement $195,841$195,841
IX-23 InsuranceManagement $21,094$21,094
IX-24 Other expenses (24a–d)Programs $1,369,012 · Management $44,425 · Fundraising $0$1,413,437
IX-24e All other expensesManagement $24,933$24,933
IX-25 Total functional expensesPrograms $1,439,582 · Management $315,551 · Fundraising $0$1,755,133
Part X · Balance sheet $1,169,768 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $284,427$494,168
X-10c Land, buildings and equipment, netStart of year $863,032$675,600
X-16 Total assetsStart of year $1,147,459$1,169,768
X-24 Unsecured notes and loans payableStart of year $0$0
X-26 Total liabilitiesStart of year $510,778$638,908
X-32 Total net assets or fund balancesStart of year $636,681$530,860
X-33 Total liabilities and net assetsStart of year $1,147,459$1,169,768
Part XI · Reconciliation of net assets $530,860 net assets at year end
XI-1 Total revenue$1,543,453
XI-2 Total expenses$1,755,133
XI-3 Revenue less expenses−$211,680
XI-4 Net assets at start of year$636,681
XI-5 Net unrealized gains (losses) on investments$0
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments$0
XI-9 Other changes in net assets$105,859
XI-10 Net assets at end of year$530,860

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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