Nonprofit · EIN 26-2428220
INSTITUTE FOR FAMILY-OWNED BUSINESS
Tax-exempt · PORTLAND, ME 04104
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $335,031 | $318,286 | $16,745 | $199,261 | $11,203 | $188,058 |
| December 31, 2024 | 990 | $304,991 | $297,359 | $7,632 | $187,974 | $16,661 | $171,313 |
| December 31, 2023 | 990 | $273,310 | $304,228 | -$30,918 | $188,357 | $24,676 | $163,681 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $354,575
- Membership dues
- $154,450
- Program service revenue
- $46,138
- Investment income
- $6,154
- Net income from fundraising events
- -$71,836
- Other revenue
- -$71,836
Expenses
- Grants and similar amounts paid
- $3,500
- Compensation of officers, directors and key employees
- $116,459
- Other salaries and wages
- $72,116
- Salaries, compensation and benefits (total)
- $205,320
- Professional fundraising fees
- $0
- Legal fees
- $2,291
- Accounting fees
- $13,470
- Travel
- $9,436
- Program services (functional)
- $210,441
- Management and general (functional)
- $64,893
- Fundraising (functional)
- $42,952
Balance sheet and other
- Total assets, start of year
- $187,974
- Total assets, end of year
- $199,261
- Total liabilities, end of year
- $11,203
- Net assets, end of year
- $188,058
- Gross receipts
- $463,722
- Employees
- 2
- Volunteers
- 30
- Year formed
- 2008
- 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, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Catherine Wygant Fossett | Executive Director Officer | 40 | $101,438 | $2,844 |
| Joe Capozza III | Chair Trustee or director, Officer | 1 | $0 | $0 |
| Dottie Chalmers Cutter | Past Chair Trustee or director, Officer | 1 | $0 | $0 |
| Deirdre Wadsworth | Vice Chair Trustee or director, Officer | 1 | $0 | $0 |
| Jacques Santucci | Treasurer Trustee or director, Officer | 1 | $0 | $0 |
| Jeffrey Messer | Secretary Trustee or director, Officer | 1 | $0 | $0 |
| David R Ciullo | Board Member Trustee or director | 1 | $0 | $0 |
| Mike Anderson | Board Member Trustee or director | 1 | $0 | $0 |
| Gary Bergeron | Board Member Trustee or director | 1 | $0 | $0 |
| Nick DiMatteo | Board Member Trustee or director | 1 | $0 | $0 |
| Jessica D'Ottavio | Board Member Trustee or director | 1 | $0 | $0 |
| Joshua Ellis | Board Member Trustee or director | 1 | $0 | $0 |
| Shae-Li Fendler | Board Member Trustee or director | 1 | $0 | $0 |
| Jon Levesque | Board Member Trustee or director | 1 | $0 | $0 |
| Lucie Narukundo | Board Member Trustee or director | 1 | $0 | $0 |
7 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Neal Richard | Board Member Trustee or director | 1 | $0 |
| Katie Rooks | Board Member Trustee or director | 1 | $0 |
| Christopher R Smith | Board Member Trustee or director | 1 | $0 |
| Linda Varrell | Board Member Trustee or director | 1 | $0 |
| Christopher Wasileski | Board Member Trustee or director | 1 | $0 |
| Seth Webber | Board Member Trustee or director | 1 | $0 |
| Charlie Zachau | Board Member Trustee or director | 1 | $0 |
990 for the year ended December 31, 2024: 21 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Catherine Wygant Fossett | Executive Director Officer | 40 | $104,884 | $2,761 |
| Joe Capozza III | Chair Trustee or director, Officer | 1 | $0 | $0 |
| Dottie Chalmers Cutter | Past Chair Trustee or director, Officer | 1 | $0 | $0 |
| Deirdre Wadsworth | Vice Chair Trustee or director, Officer | 1 | $0 | $0 |
| Jacques Santucci | Treasurer Trustee or director, Officer | 1 | $0 | $0 |
| Jeffrey Messer | Secretary Trustee or director, Officer | 1 | $0 | $0 |
| David R Ciullo | Board Member Trustee or director | 1 | $0 | $0 |
| Mike Anderson | Board Member Trustee or director | 1 | $0 | $0 |
| Gary Bergeron | Board Member Trustee or director | 1 | $0 | $0 |
| Joshua Ellis | Board Member Trustee or director | 1 | $0 | $0 |
| Shae-Li Fendler | Board Member Trustee or director | 1 | $0 | $0 |
| Laura Linscott | Board Member Trustee or director | 1 | $0 | $0 |
| Christopher Lynch | Board Member Trustee or director | 1 | $0 | $0 |
| Paula Mahony | Board Member Trustee or director | 1 | $0 | $0 |
| Shauna Miller | Board Member Trustee or director | 1 | $0 | $0 |
| Katie Rooks | Board Member Trustee or director | 1 | $0 | $0 |
| Christopher R Smith | Board Member Trustee or director | 1 | $0 | $0 |
| Lydia Swann | Board Member Trustee or director | 1 | $0 | $0 |
| Linda Varrell | Board Member Trustee or director | 1 | $0 | $0 |
| Christopher Wasileski | Board Member Trustee or director | 1 | $0 | $0 |
| Seth Webber | Board Member Trustee or director | 1 | $0 | $0 |
990 for the year ended December 31, 2023: 19 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Catherine Wygant Fossett | Executive Director Officer | 40 | $101,438 | $2,680 |
| Dottie Chalmers Cutter | Advisory Board Chair Trustee or director, Officer | 1 | $0 | $0 |
| Joseph Capozza III | Advisory Board Vice Chair Trustee or director, Officer | 1 | $0 | $0 |
| Jacques Santucci | Treasurer Trustee or director, Officer | 1 | $0 | $0 |
| Reuben Bell | Advisory Board Trustee or director | 1 | $0 | $0 |
| David Ciullo | Advisory Board Trustee or director | 1 | $0 | $0 |
| Joshua Ellis | Advisory Board Trustee or director | 1 | $0 | $0 |
| Shae-Li Fendler | Advisory Board Trustee or director | 1 | $0 | $0 |
| Laura Linscott | Advisory Board Trustee or director | 1 | $0 | $0 |
| Chris Lynch | Advisory Board Trustee or director | 1 | $0 | $0 |
| Paula Mahony | Advisory Board Trustee or director | 1 | $0 | $0 |
| Jeffrey Messer | Advisory Board Trustee or director | 1 | $0 | $0 |
| Shauna Miller | Advisory Board Trustee or director | 1 | $0 | $0 |
| Lindsay Skilling | Advisory Board Trustee or director | 1 | $0 | $0 |
| Christopher Smith | Advisory Board Trustee or director | 1 | $0 | $0 |
| Lydia Swann | Advisory Board Trustee or director | 1 | $0 | $0 |
| Linda Varrell | Advisory Board Trustee or director | 1 | $0 | $0 |
| Deirdre Wadsworth | Advisory Board Trustee or director | 1 | $0 | $0 |
| Seth Webber | Advisory Board Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 3364, PORTLAND, ME 04104-3364
- In care of
- % CATHERINE FOSSETT
- Principal officer (990 for 2025)
- Catherine Wygant Fossett, PO Box 3364, Portland, ME 04104
- Signed the 990
- Catherine Wygant Fossett, Executive Director
- Phone
- (207) 798-2667
- Website
- www.fambusiness.org
- Return prepared by
- Berry Dunn McNeil & Parker LLC
Mission
To provide the unique information, resources and networking opportunities to enable Maine's business-owning families to prosper and achieve their fullest potential.
Program accomplishments
- Program services were conducted throughout the year including presentations, educational programs and consulting support related to governance, succession and estate planning, stewardship and effective leadership strategies. The programs were provided to member companies and were available to Maine family businesses and other companies as well.Expenses $210,441 · grants $3,500 · revenue $46,138
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 | 990 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
- 26-2428220
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2008
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S194)
- Assets (IRS master file)
- $199,261
- Income (IRS master file)
- $463,722
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $335,031 | $318,286 | $199,261 | IRS |
| 990 | December 2024 | $304,991 | $297,359 | $187,974 | IRS |
| 990 | December 2023 | $273,310 | $304,228 | $188,357 | XML |
| 990 | December 2022 | $292,962 | $323,692 | $218,303 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 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 26-2428220).
Questions about INSTITUTE FOR FAMILY-OWNED BUSINESS
- What is the EIN of INSTITUTE FOR FAMILY-OWNED BUSINESS?
- The employer identification number (EIN) of INSTITUTE FOR FAMILY-OWNED BUSINESS is 26-2428220.
- Is INSTITUTE FOR FAMILY-OWNED BUSINESS tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2008.
- Are donations to INSTITUTE FOR FAMILY-OWNED BUSINESS tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does INSTITUTE FOR FAMILY-OWNED BUSINESS 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 INSTITUTE FOR FAMILY-OWNED BUSINESS due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did INSTITUTE FOR FAMILY-OWNED BUSINESS last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of INSTITUTE FOR FAMILY-OWNED BUSINESS?
- The 990 for the year ended December 31, 2025 names Catherine Wygant Fossett.
- Who are the officers and directors of INSTITUTE FOR FAMILY-OWNED BUSINESS?
- The 990 for the year ended December 31, 2025 lists 22 people; 1 received compensation from the organization, the highest $101,438 (Catherine Wygant Fossett, Executive Director).
- How much revenue does INSTITUTE FOR FAMILY-OWNED BUSINESS have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $335,031, expenses of $318,286 and total assets of $199,261 at year end.
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All nonprofits in PORTLAND · Maine · Community improvement and capacity building