Recompense Fund EIN 84-4249483

Recompense Fund

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Supports charitable and community groups on Chebeague Island, Maine. For fiscal year 2024 it reported $325K in revenue, $96K in expenses, and $1.5M in net assets.Pt I

Type
Public charity (501(c)(3)) · Human Services
Location
Chebeague Is, ME
Website
recompensefund.com
Filings
5 on file (2020–2024)
Revenue
$325KFY2024
Expenses
$96K
Net assets
$1.5M
People
13
Filings
5
Updates
0
More identity details & actions ⌄
EIN  84-4249483 Public charity (501(c)(3)) Chebeague Is, ME
Form 990 (PDF)
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Size
$100K–1M
What they do
Supports charitable and community groups on Chebeague Island, Maine.
Leadership
Beverly Johnson · Vice Chair
Money in and out
$325K revenue, $96K expenses
Bottom line
70% program efficiency
Where the money goes · FY2024
Total revenue
$325K
Pt VIII · Ln 12
Total expenses
$96K
Pt IX · Ln 25
Net assets
$1.5M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $229K
Where spending went · Part IX cols B–D
Program services $0.70 Management & general $0.30
Program efficiency
70%
of spending reaches programs▲ +2% vs prior filing year
Operating runway
190.6mo
months of highly liquid reserves at operating expense rate▲ +24% vs prior filing year
Surplus margin
+71%
revenue over expenses, this year▲ +12% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$325K
FY2024▲ +18%
Expenses
$96K
FY2024▼ -5%
Total assets
$1.5M
FY2024▲ +17%
Total liabilities
$0
FY2024
Total revenue
$325K
Pt VIII · Ln 12
Total expenses
$96K
Pt IX · Ln 25
Net assets
$1.5M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$229K
Total assetsPt X · Ln 16$1.5M
Program-expense ratioPt IX · col B70%
Voting members of governing bodyPt I · Ln 313
Independent voting membersPt I · Ln 413
Mission & Programs · Part III

Where the work happens

3 program services account for $31K of program spending, described in the organization's own filed words · FY2024.
01

Chebeague island library

$12Kprogram expense
02

Chebeaugue island historical society

$11Kprogram expense
03

Chebeague recreation center

$8Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CRecompense Fund
EINHdr · item D84-4249483
Principal addressHdr · item CChebeague Is, ME
WebsiteHdr · item Jrecompensefund.com
Year of formationHdr · item Lpending
State of legal domicileHdr · item MME
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFHuman Services (P20)
Ruling yearIRS BMFJul 2020

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a13
Independent voting membersPt VI · Ln 1b13
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Vice Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Recompense Fund executive salaries →

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Statement of Revenue

Part VIII
Contributions & grants$181K · 56%
Investment income$144K · 44%
Contributions & grants56%$181K
Investment income44%$144K
Total revenueLn 12$325K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.70 Management & general $0.30
Program services70%$67K
Management & general30%$29K
Total functional expensesLn 25$96K

Balance Sheet

Part X · end of year
CashLn 1$261K
Total assetsLn 16$1.5M
Total liabilitiesLn 26$0
Total net assetsLn 32$1.5M
Months of cash on handcomputed32.8

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $1.5M · Operating expenses/yr $96K
190.6 months
Where the money goes
Program services
Program services $67K · Total expenses $96K
70%
Management & General
Management & general $29K · Total expenses $96K
30%
Fundraising
Fundraising $0 · Total expenses $96K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $170K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $181K · Total revenue $325K
56%
Government reliance
Government grants — · Total revenue $325K
Earned-income share
Program service revenue $0 · Total revenue $325K
0%
Investment reliance
Investment income $144K · Total revenue $325K
+44%
Program self-sufficiency
Program service revenue $0 · Total expenses $96K
0%
Growth & trend
Revenue growth (YoY)
This year $325K · Prior year $275K
+18%
Revenue CAGR
FY2020 $908K · FY2024 $325K
-23%
Net-asset trend (YoY)
End of year $1.5M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $325K · Expenses $96K
+71%
Liabilities-to-Assets
Total liabilities — · Total assets $1.5M
Net-asset ratio
Net assets $1.5M · Total assets $1.5M
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $1.3M · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $1.5M
83%
People & payroll
Highest Reported Total Compensation
Individual Beverly Johnson · Reported title VICE CHAIR · Highest reported compensation $0 · Total expenses $96K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $96K
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 70%
Overhead ratio 30%
Fundraising cost ratio 0%
Revenue growth 18%
Investment management fee ratio 0.7%
Accounting fee ratio 1%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2024
See all 4 funders →
Grants paid · 26 grants · $246K · 2020–2024
Chebeague Island LibraryME · FY2024$12,500
Chebeague Island Rec CenterFY2024$8,327
Chebeague Community ChurchME · FY2024$6,139
Chebeague Kids PlaceFY2024$6,000
Chebeague Island Rec CenterFY2023$21,600
Chebeague Island Hall Community CenterFY2023$8,400
Chebeague Island LibraryME · FY2023$7,000
Chebeague Island Sailing SchoolFY2022$8,000
Chebeague Transportation CompanyFY2022$6,600
See all 26 grants →

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$325K revenue · viewing · ⤓ 990 PDF
FY2023$275K revenue · ⤓ 990 PDF
FY2022$190K revenue · ⤓ 990 PDF
FY2021$188K revenue · ⤓ 990 PDF
FY2020$908K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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