Nonprofit · EIN 01-6011501
UNIVERSITY OF MAINE FOUNDATION
Tax-exempt · ORONO, ME 04469
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $60,444,315 | $31,070,426 | $29,373,889 | $458,332,421 | $11,239,280 | $447,093,141 |
| December 31, 2023 | 990 | $64,724,867 | $32,864,307 | $31,860,560 | $390,581,135 | $12,075,645 | $378,505,490 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $48,090,132
- Program service revenue
- $3,906,105
- Investment income
- $8,469,085
- Net gain from sales of assets
- $3,767,256
- Other revenue
- -$21,007
Expenses
- Grants and similar amounts paid
- $22,234,599
- Compensation of officers, directors and key employees
- $710,642
- Other salaries and wages
- $3,576,131
- Salaries, compensation and benefits (total)
- $5,749,396
- Professional fundraising fees
- $0
- Legal fees
- $3,909
- Accounting fees
- $47,507
- Occupancy
- $272,204
- Travel
- $163,787
- Depreciation
- $43,805
- Program services (functional)
- $24,296,130
- Management and general (functional)
- $2,643,847
- Fundraising (functional)
- $4,130,449
Balance sheet and other
- Total assets, start of year
- $390,581,135
- Total assets, end of year
- $458,332,421
- Total liabilities, end of year
- $11,239,280
- Net assets, end of year
- $447,093,141
- Land, buildings and equipment
- $6,050,169
- Publicly traded securities
- $303,725,414
- Net assets without donor restrictions
- $19,321,787
- Net assets with donor restrictions
- $427,771,354
- Gross unrelated business income
- -$138,189
- Gross receipts
- $112,266,399
- Employees
- 48
- Volunteers
- 50
- Year formed
- 1934
- State of legal domicile
- ME
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Jeffery N Mills | President/CEO Officer | 40 | $398,629 | $31,840 |
| Kevin J Frazier | Vice President & CFO Officer | 40 | $205,850 | $74,323 |
| Sarah J McPartland-Good | VP & Foundation General Counsel Highest-paid employee | 40 | $183,145 | $48,428 |
| Elizabeth M Erickson | Senior Director of Philanthropy Highest-paid employee | 40 | $166,288 | $46,903 |
| Patricia A Cummings | Senior Director of Philanthropy Highest-paid employee | 40 | $178,175 | $31,851 |
| Joyce Kennedy | Senior Director of Philanthropy Highest-paid employee | 40 | $158,737 | $29,189 |
| Monique Hashey | Sr. Dir. of Annual Giving, Marketing, & Eve Highest-paid employee | 40 | $144,251 | $43,250 |
| Robert A Strong | Chair Trustee or director, Officer | 1 | $0 | $0 |
| Todd D Saucier | Vice Chair Trustee or director, Officer | 1 | $0 | $0 |
| David M Austin | Director Trustee or director | 1 | $0 | $0 |
| Donna L Hathaway | Director Trustee or director | 1 | $0 | $0 |
| Christopher P Keating | Director Trustee or director | 1 | $0 | $0 |
| Kenneth A Murray | Director Trustee or director | 1 | $0 | $0 |
| Beth L Sturtevant | Director Trustee or director | 1 | $0 | $0 |
| Dorothy Foster Vachon | Director Trustee or director | 1 | $0 | $0 |
2 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Kurt R Marston | Treasurer Officer | 1 | $0 |
| Maria R Fuentes | Secretary Officer | 1 | $0 |
990 for the year ended December 31, 2023: 17 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Jeffery N Mills | President/CEO Officer | 40 | $374,660 | $59,500 |
| Kevin J Frazier | CFO Officer | 40 | $184,613 | $77,177 |
| Sarah J McPartland-Good | General Counsel Highest-paid employee | 40 | $172,505 | $51,292 |
| Elizabeth M Erickson | Senior Director of Philanthropy Highest-paid employee | 40 | $165,462 | $50,352 |
| Patricia A Cummings | Senior Director of Philanthropy Highest-paid employee | 40 | $171,876 | $32,599 |
| Joyce Kennedy | Senior Director of Philanthropy Highest-paid employee | 40 | $153,719 | $30,104 |
| Seth Woodcock | Sr. Assoc. Athletic Dir. for Dev. Highest-paid employee | 40 | $145,797 | $14,580 |
| Robert A Strong | Chair Trustee or director, Officer | 1 | $0 | $0 |
| Todd D Saucier | Vice Chair Trustee or director, Officer | 1 | $0 | $0 |
| David M Austin | Director Trustee or director | 1 | $0 | $0 |
| Donna L Hathaway | Director Trustee or director | 1 | $0 | $0 |
| Christopher P Keating | Director Trustee or director | 1 | $0 | $0 |
| Kenneth A Murray | Director Trustee or director | 1 | $0 | $0 |
| Beth L Sturtevant | Director Trustee or director | 1 | $0 | $0 |
| Dorothy Foster Vachon | Director Trustee or director | 1 | $0 | $0 |
| Kurt R Marston | Treasurer Officer | 1 | $0 | $0 |
| Maria R Fuentes | Secretary Officer | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- TWO ALUMNI PLACE, ORONO, ME 04469-5792
- Principal officer (990 for 2024)
- Jeffery Mills, Two Alumni Place, Orono, ME 044695792
- Signed the 990
- Jeffery Mills, President/CEO
- Phone
- (207) 581-5100
- Website
- www.umainefoundation.org
- Return prepared by
- Berry Dunn McNeil & Parker LLC
Mission
The University of Maine Foundation, acting as a separate organization, will work collaboratively with all entities to encourage philanthropic support for the University of Maine and other charitable organizations while carrying out the donor's wishes in perpetuity.
Program accomplishments
- Gifts and endowment income distributed for scholarships and general support for the benefit of the University of Maine.Expenses $23,800,668 · grants $22,077,757 · revenue $3,906,105
- Distributions to trust, gift annuity and pooled income fund participants.Expenses $338,620
- Distributions of gifts and endowment income to other qualified charities.Expenses $156,842 · grants $156,842
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 01-6011501
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1940
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B110)
- Assets (IRS master file)
- $458,332,421
- Income (IRS master file)
- $112,266,399
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $60,444,315 | $31,070,426 | $458,332,421 | XML |
| 990-T | December 2024 | – | – | – | IRS |
| 990 | December 2023 | $64,724,867 | $32,864,307 | $390,581,135 | XML |
| 990-T | December 2023 | – | – | – | IRS |
| 990 | December 2022 | $40,999,640 | $44,550,845 | $326,235,305 | IRS |
| 990-T | December 2022 | – | – | – | IRS |
| 990 | December 2021 | $22,127,345 | $11,985,982 | $392,570,813 | IRS |
| 990-T | December 2021 | – | – | – | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990-T | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
| 990 | June 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 01-6011501).
Questions about UNIVERSITY OF MAINE FOUNDATION
- What is the EIN of UNIVERSITY OF MAINE FOUNDATION?
- The employer identification number (EIN) of UNIVERSITY OF MAINE FOUNDATION is 01-6011501.
- Is UNIVERSITY OF MAINE FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1940.
- Are donations to UNIVERSITY OF MAINE FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does UNIVERSITY OF MAINE FOUNDATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of UNIVERSITY OF MAINE FOUNDATION due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did UNIVERSITY OF MAINE FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of UNIVERSITY OF MAINE FOUNDATION?
- The 990 for the year ended December 31, 2024 names Jeffery Mills.
- Who are the officers and directors of UNIVERSITY OF MAINE FOUNDATION?
- The 990 for the year ended December 31, 2024 lists 17 people; 7 received compensation from the organization, the highest $398,629 (Jeffery N Mills, President/CEO).
- How much revenue does UNIVERSITY OF MAINE FOUNDATION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $60,444,315, expenses of $31,070,426 and total assets of $458,332,421 at year end.
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