2024-02-05T10:48:33-06:00 2023-03-31 010494526 Baker Newman & Noyes PO Box 507 Portland ME 04112 990 2022-04-01 010476545 Coastal Maine Botanical Gardens Inc COAS 2076334333 PO Box 234 Boothbay ME 04537 Gretchen Ostherr President & CEO 2076334333 2024-02-02 1 Gretchen Ostherr 999009999 0 Connor Smart P02285543 2078792100 2024-02-02 0 AAL1 IAL1 2022 2023-04-26 12:10:37Z Gretchen Ostherr PO Box 234 Boothbay ME 04537 20695361 0 X https://www.mainegardens.org/ X 1992 ME To inspire connections among people and nature through horticulture, education, and research. 22 22 121 196 0 0 16233499 12577558 5640424 5074589 130706 442780 1276359 1276471 23280988 19371398 0 0 0 0 4439462 5739157 220360 159500 1640080 4148348 4526385 8808170 10425042 14472818 8946356 58317312 65222638 15538305 13662600 42779007 51560038 The mission of Coastal Maine Botanical Gardens is to inspire meaningful connections among people, plants, and nature through horticulture, education, and research. 0 0 5758864 0 6379081 Incorporated as a non-profit in 1992, Coastal Maine Botanical Gardens (CMBG) opened in 2007 as Maine's first major botanical garden. At 325 acres, seventeen of which include themed and ornamental gardens, woodland trails, with nearly a mile of tidal shorefront, it is the largest public garden in Northern New England. The Gardens feature the Lyn and Daniel Lerner Visitor Center, a curated garden shop, and a cafe and grab-and-go market. CMBG offers educational programs encompassing plant science, gardening, botanical arts, and environmental education in our LEED-platinum, net-zero Bosarge Family Educational Center. Each of the Gardens' buildings also house administrative offices. CMBG remains an economic engine for the State of Maine, attracting 319,430 visitors to the Boothbay region during this tax year. 5758864 1 1 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 1 45 0 1 121 1 0 0 0 0 0 0 0 0 0 0 0 0 X 22 22 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 1 1 0 X X Catherine Messmer Finance Director 2076338019 PO Box 234 Boothbay ME 04537 John Auber Director 1.00 X 0 0 0 Karen Bartholomew Director 1.00 X 0 0 0 Bob Bauman Director (end 6/22) 1.00 X 0 0 0 Stephen Blatt Director 1.00 X 0 0 0 Geoff Chatterton Director 1.00 X 0 0 0 Jon Fauver Director 1.00 X 0 0 0 Cynthia Hosmer Director (end 6/22) 1.00 X 0 0 0 Jeff Long Director 1.00 X 0 0 0 Dyke Messler Jr Director (end 6/22) 1.00 X 0 0 0 Keith Mestrich Director (start 9/22) 1.00 X 0 0 0 Betsey Morrell Director (end 6/22) 1.00 X 0 0 0 Helen Norton Director 1.00 X 0 0 0 Mark Osborn Director 1.00 X 0 0 0 Kirsten Poler Director 1.00 X 0 0 0 Margaret Reiser Director 1.00 X 0 0 0 Beth Renyi Director 1.00 X 0 0 0 David Rines Director 1.00 X 0 0 0 Errin Siagel Director 1.00 X 0 0 0 Tish Stoneburner Director 1.00 X 0 0 0 Paula Swetland Director 1.00 X 0 0 0 Warren Winslow Director 1.00 X 0 0 0 James Yardley Director (end 6/22) 1.00 X 0 0 0 Mary Neal Chair 7.00 X X 0 0 0 Judy Parkhill Vice Chair 1.00 X X 0 0 0 Barbara Alfond Vice Chair 1.00 X X 0 0 0 Paul Goodof Vice Chair/Treasurer 1.00 X X 0 0 0 Ann Poole Secretary 1.00 X X 0 0 0 Gretchen Ostherr President & CEO 60.00 X 239680 0 31968 Jennifer McKane VP of Philantropy & Marketing 40.00 X 169026 0 23591 408706 0 55559 2 0 1 0 Resilient Philanthropy PO Box 40646 Washington DC 20016 Fundraising Consultant 150000 Penmor Lithographers PO Box 2003 Lewiston ME 04241 Printing Services 129392 2 302728 12274830 136933 12577558 Admissions Revenue 713990 4082440 4082440 Membership Dues 713990 853838 853838 Educational Programs 611600 138311 138311 5074589 448318 448318 10551 7754 45196 1130 -34645 6624 -28021 -28021 5538 -5538 -5538 -5538 2576591 1272099 1304492 1304492 19371398 6379081 0 414759 271648 149977 72438 49233 4539804 2506427 1210594 822783 101556 56069 27081 18406 503618 278047 134297 91274 322531 178070 86006 58455 54119 54119 28450 28450 159500 159500 30 30 215191 83271 131920 85229 85229 883611 526055 357231 325 55074 12652 35444 6978 554946 147716 406437 793 136479 29143 57603 49733 15526 3213 9890 2423 347147 163482 183665 1864903 1538000 324884 2019 89659 89659 Capital campaign/publ's 194493 194493 Garden programs 1528 1513 15 10425042 5758864 3026098 1640080 6458912 0 3013837 11020329 8509355 12638461 5250 2750 616818 650727 127478 156677 48320994 13548121 33355647 34772873 7006 20532 6223009 5960289 58317312 65222638 546687 997703 239628 265570 6405203 3889058 8346787 8510269 15538305 13662600 X 21950172 21379350 20828835 30180688 42779007 51560038 58317312 65222638 8946356 -465325 300000 0 X X 0 1 X 1 0 X 2146570 8890061 4275847 16233499 12577558 44123535 2146570 8890061 4275847 16233499 12577558 44123535 16507346 27616189 332813 271257 178887 139329 448318 1370604 1410 1410 45495549 21747894 0.60700 0.52490 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 13000 404959 X 0 5775975 235654 -253058 264360 5494211 4906154 519982 474359 124520 5775975 3765629 52959 1261396 173830 4906154 4246291 -222354 258308 3765629 4417512 31000 126134 328355 4246291 0.28768 0.53863 0.17369 1 0 2144706 2144706 20358787 4457622 15901165 18037869 6615209 11422660 5005343 2475290 2530053 2774289 2774289 34772873 Beneficial interest in assets held by Maine Community Foundation 5494211 Sculptures and artwork 404959 Unemployment trust 61119 5960289 Program related investment loan payable 8510269 8510269 X 19252399 -465325 300000 46326 -118999 19371398 0 19371398 10471368 46326 46326 10425042 0 10425042 Part III, Line 4: Coastal Maine Botanical Gardens hosts many art and sculpture exhibits throughout its operating seasons. The Organization utilizes artwork, sculpture, and craft to build connections between the community and Garden visitors over ideas of nature and creativity, and to foster relationships between its members, staff, and visitors. Much of the Organization's artwork is available to enjoy as public exhibitions that are displayed throughout and included within the Gardens' facilities and campus. Additionally, the Organization encourages and sponsors patrons of the creative arts through artistic symposiums and programmatic events which meld together the Organization's own mission to preserve, feature, and advocate for the natural environment while also advancing other creative pursuits and the humanities. Sculptures and artwork are recognized on the Organization's balance sheet within Other Assets, and donations of Artwork are reported as non-cash contributions when received and when recognized as income in the Organization's financial statements. Part V, Line 4: At March 31, 2023 and 2022, the Organization held donor restricted endowments of $3,913,647 and $3,987,805, and Board designated endowments of $1,580,564 and $1,788,170, respectively. The purpose of these endowment funds is to provide investment income and gains to further various activities of the Organization. A portion of the Organization's endowment funds are maintained within the Maine Community Foundation ("MCF"). Income from the endowment accounts held within MCF is typically distributed according to a distribution formula approved by the Organization's Board, which is currently 4% of a twelve quarter running average of endowment investments. Additional distributions may be requested by a 2/3 majority of the Board of Directors. Such requests will not be unreasonably withheld by the MCF. The Organization took endowment draws of $264,360 and $124,520 during the years ended March 31, 2023 and 2022, respectively. The endowment accounts held within MCF are composed of investments spread across U.S. and global asset classes and are managed to produce long-term growth while minimizing volatility. Part X, Line 2: The Organization is exempt from taxation under Section 501(c)(3) of the Internal Revenue Code. Tax-exempt organizations could be required to record an obligation for income taxes as the result of a tax position they have historically taken on various tax exposure items, including unrelated business income or tax status. Under guidance issued by the Financial Accounting Standards Board (FASB), assets and liabilities are established for uncertain tax positions taken or positions expected to be taken in income tax returns when such positions are judged to not meet the "more-likely-than-not" threshold, based upon the technical merits of the position. Estimated interest and penalties, if applicable, related to uncertain tax positions are included as a component of income tax expense. Management has evaluated the Organization's tax positions taken on its filed tax returns and concluded that the Organization has maintained its tax-exempt status, does not have any significant unrelated business income and has taken no uncertain tax positions that require adjustment to the financial statements. Part XI, Line 2d - Other Adjustments: Rental expenses 46,326. Part XII, Line 2d - Other Adjustments: Rental expenses 46,326. X 1 Resilient Philanthropy PO Box 40646 Washington DC 20016 Fundraising Consultant 0 0 150000 0 Stepwise Data Research LLC PO Box 87 Yarmouth ME 04096 Economic Impact Study 0 0 9500 0 159500 ME Form 990, Schedule G, Part I, Professional Fundraisers: During the period covered by this Form 990, the Organization engaged Resilient Philanthropy and Stepwise Data Research to provide fundraising consulting and to perform an economic impact study, respectively. These engaged firms did not solicit contributions on behalf of the Organization, maintain or oversee any fundraising events, or engage or participate in any of the Organization's program services. Rather, the Organization independently utilized the data and insight provided by both entities to improve the Organization's own activities, programs, and fundraising capabilities and expertise. The services provided by Resilient Philanthropy and Stepwise Data Research were valuable and improved the Organization's ability to fundraise, but no gross receipts or donations received by the Organization can be connected to the services provided by these professionals. Accordingly, $0 is reported on this Form 990, Schedule G, Part I, Column iv. X X X 0 0 0 0 0 0 0 1 0 Gretchen Ostherr President & CEO 229680 0 10000 0 0 0 4265 0 27703 0 271648 0 0 0 Jennifer McKane VP of Philantropy & Marketing 134026 0 35000 0 0 0 2046 0 21545 0 192617 0 0 0 Part I, Line 7 The Organization may from time-to-time award bonuses and incentive compensation to employees who meet performance goals and who deliver high quality service. Bonuses and non-fixed payments are made in accordance with the Organization's existing compensation and benefit review procedures. X 1 13000 Gift Date FMV X 805 Gift Date FMV X 36695 Gift Date FMV X 12 86433 Gift Date FMV 0 1 1 Part I, Line 32b: The Organization maintains relationships with various investment advisors and financial professionals who assist the Organization in timely processing, maintenance, and disposal (if any) of donated financial securities. Additionally, the Organization may incorporate donations of tangible property and artwork into its general operations, programs, and facilities, as applicable and as based on the quality and characteristics of the gift received. Form 990, Part VI, Section B, line 11b The Form 990 is prepared with the assistance of an independent CPA firm. The CPA firm coordinates with key officers and finance personnel of the Organization to prepare and review a draft of the Form 990 prior to its filing with the IRS. As these individuals consider the drafted Form 990, they are given the opportunity to ask questions and to address any concerns with the tax filing or otherwise, including the ability to meet and discuss the Form 990 with the engaged CPA firm. The Form 990 is filed with the IRS by the engaged CPA firm on behalf of the Organization once all relevant compliance and disclosure requirements are fully and accurately addressed, and only once the CPA firm receives final approval and confirmation by the Organization that all applicable persons have been provided a copy of the Form 990 for consideration prior to its submission. Form 990, Part VI, Section B, line 12c The Organization defines an "Interested Persons" as any Director, Officer, or senior staff member of the Corporation who has a direct or indirect financial interest. The Organization requires that, in connection with any actual or possible conflicts of interest, an interested person must disclose the existence of his or her financial interest to the Chair or President/CEO, as appropriate, and must be given the opportunity to disclose all material facts to the Directors and members of committees with Board-delegated powers considering the proposed transaction or arrangement. Form 990, Part VI, Section B, line 15 The President & CEO's performance is reviewed annually by the Personnel Committee, which then provides a recommendation on annual compensation to the Executive Committee. As part of its review, the Personnel Committee requests that market comparable compensation figures be prepared by the Organization's Director of Human Resources. Additionally, Personnel Committee members researched market comparable compensation data independently of the Organization's Director of Human Resources. Compensation data used in determining the CEO's wages and benefits included similar sized botanical gardens in the US, several New England institutions of higher education, and six other comparable Maine nonprofits. Final compensation for the Executive was based on the President & CEO meeting agreed upon annual goals from the prior year relative to reasonable and comparable data and figures. Form 990, Part VI, Section C, line 19 The Organization maintains and makes available to the public upon request copies of its governing documents, conflict of interest policy, and financial statements. Financial and annual reports are available on the Organization's website at: https://www.mainegardens.org/annual-report/ Form 990, Part XII, Line 2c: During its 2022 tax year (year ending March 31, 2023), the Organization engaged a new independent public accounting firm, Baker Newman Noyes, to perform an audit of the Organization's financial statements and to assist in the subsequent preparation and filing of the Organization's annual Form 990. The audit was subject to the review and oversight of the Organization's Executive Director, finance and audit committees, and key financial and business personnel within the Organization. Additionally, the Organization's audited financial statements and Form 990 are subject to review by the Organization's independent Board of Directors prior to their issuance.