UNIVERSITY OF SOUTHERN MAINE FOUNDATION: Form 990, tax year 2010
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- Organization
- UNIVERSITY OF SOUTHERN MAINE FOUNDATION (EIN 04-3350930)
- Tax period
- 2010-07-01 to 2011-06-30
- Filed
- 2011-12-05
- IRS object ID
- 201123399349300507
- Schema version
- 2010v3.4
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2011-12-05T09:24:06-06:00 | Timestamp |
| Tax Period End Date | 2011-06-30 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BAKER NEWMAN & NOYES | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 507 | AddressLine1 |
| City | PORTLAND | City |
| State | ME | State |
| ZIP Code | 04112 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2010-07-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 043350930 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | THE UNIVERSITY OF SOUTHERN MAINE | BusinessNameLine1 |
| Business Name Line2 | FOUNDATION | BusinessNameLine2 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | UNIV | NameControl |
| Phone | 2077804741 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 96 FALMOUTH STREET | AddressLine1 |
| City | PORTLAND | City |
| State | ME | State |
| ZIP Code | 041049300 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | MARGARET WESTON | Name |
| Title | PRESIDENT & CEO | Title |
| Phone | 2077804741 | Phone |
| Date Signed | 2011-11-17 | DateSigned |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | E DREW CHENEY | Name |
| Phone | 2078792100 | Phone |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2010 | TaxYear |
| Build TS | 2016-02-24 21:20:13Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | MARGARET WESTON | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 96 FALMOUTH STREET | AddressLine1 |
| City | PORTLAND | City |
| State | ME | State |
| ZIP Code | 041049300 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 1638651 | GrossReceipts |
| Group Return For Affiliates | 0 | GroupReturnForAffiliates |
| Organization501c3 | X | Organization501c3 |
| Web Site | WWW.USM.MAINE.EDU/FOUNDATION | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1996 | YearFormation |
| State Legal Domicile | ME | StateLegalDomicile |
| Activity Or Mission Description | SUPPORT FOR THE UNIVERSITY OF SOUTHERN MAINE | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 17 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 17 | NbrIndependentVotingMembers |
| Total Nbr Employees | 0 | TotalNbrEmployees |
| Total Nbr Volunteers | 24 | TotalNbrVolunteers |
| Total Gross UBI | 0 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | 0 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 1510819 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 1176993 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 0 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 0 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 178536 | InvestmentIncomePriorYear |
| Investment Income Current Year | 461658 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 0 | OtherRevenuePriorYear |
| Other Revenue Current Year | 0 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 1689355 | TotalRevenuePriorYear |
| Total Revenue Current Year | 1638651 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 1073829 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 1256665 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 0 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 14318 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 0 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp Prior Year | 0 | TotalProfFundrsngExpPriorYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 19902 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 163538 | OtherExpensePriorYear |
| Other Expenses Current Year | 169257 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 1251685 | TotalExpensesPriorYear |
| Total Expenses Current Year | 1425922 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | 437670 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | 212729 | RevenuesLessExpensesCY |
| Total Assets BOY | 18241111 | TotalAssetsBOY |
| Total Assets EOY | 20151852 | TotalAssetsEOY |
| Total Liabilities BOY | 1191547 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 546019 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 17049564 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 19605833 | NetAssetsOrFundBalancesEOY |
| Mission Description | SUPPORT FOR THE UNIVERSITY OF SOUTHERN MAINE | MissionDescription |
| Significant New Program Services | 0 | SignificantNewProgramServices |
| Significant Change | 0 | SignificantChange |
| Expense | 1257661 | Expense |
| Grants | 1256665 | Grants |
| Description | RAISED FUNDS TO ASSIST WITH CAPITAL IMPROVEMENTS TO THE ATHLETIC FIELDS LOCATED ON THE GORHAM CAMPUS. RAISED FUNDS FOR SCHOLARSHIPS IN SUPPORT OF THE ENGINEERING, MUSIC, EDUCATION AND NURSING PROGRAMS. RECEIVED DONATIONS TO ASSIST IN SUPPLYING THE OSHER MAP LIBRARY, HOUSED AT THE UNIVERSITY OF SOUTHERN MAINE, WITH MAPS, BOOKS AND ARTIFACTS. CONTINUED TO INVEST ENDOWMENTS PRUDENTLY AND RESPONSIBLY IN ORDER TO PROVIDE INCOME FOR SCHOLARSHIPS, PROFESSORSHIPS AND STAFF DEVELOPMENT, ALL BENEFITTING THE UNIVERSITY OF SOUTHERN MAINE. | Description |
| Total Program Service Expense | 1257661 | TotalProgramServiceExpense |
| Described In501 C3 | 1 | DescribedIn501C3 |
| Schedule B Required | 1 | ScheduleBRequired |
| Political Activities | 0 | PoliticalActivities |
| Lobbying Activities | 0 | LobbyingActivities |
| Donor Advised Funds | 0 | DonorAdvisedFunds |
| Conservation Easements | 0 | ConservationEasements |
| Collections Of Art | 0 | CollectionsOfArt |
| Credit Counseling | 0 | CreditCounseling |
| Term Or Permanent Endowments | 1 | TermOrPermanentEndowments |
| Report Land Bldg Equip | 1 | ReportLandBldgEquip |
| Report Invest Oth Securities | 1 | ReportInvestOthSecurities |
| Report Prog Rel Invest | 0 | ReportProgRelInvest |
| Report Other Assets | 0 | ReportOtherAssets |
| Report Other Liabilities | 1 | ReportOtherLiabilities |
| Report Fin48 Footnote | 1 | ReportFin48Footnote |
| Independent Audit Financial Stmt | 1 | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | 0 | ConsolidatedAuditFinancialStmt |
| School | 0 | School |
| Foreign Office | 0 | ForeignOffice |
| Foreign Activities | 0 | ForeignActivities |
| More Than5000 K To Organizations | 0 | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividuals |
| Professional Fundraising | 0 | ProfessionalFundraising |
| Fundraising Activities | 0 | FundraisingActivities |
| Gaming | 0 | Gaming |
| Hospital | 0 | Hospital |
| Grants To Organizations | 1 | GrantsToOrganizations |
| Grants To Individuals | 0 | GrantsToIndividuals |
| Schedule J Required | 0 | ScheduleJRequired |
| Tax Exempt Bonds | 0 | TaxExemptBonds |
| Excess Benefit Transaction | 0 | ExcessBenefitTransaction |
| Prior Excess Benefit Transaction | 0 | PriorExcessBenefitTransaction |
| Loan To Officer Or DQP | 0 | LoanToOfficerOrDQP |
| Grant To Related Person | 0 | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | 0 | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | 0 | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | 0 | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | 1 | DeductibleNonCashContributions |
| Deductible Contributions Of Art | 0 | DeductibleContributionsOfArt |
| Terminated | 0 | Terminated |
| Partial Liquidation | 0 | PartialLiquidation |
| Disregarded Entity | 0 | DisregardedEntity |
| Related Entity | 0 | RelatedEntity |
| Related Org Controlled Entity | 0 | RelatedOrgControlledEntity |
| Transaction Related Entity | 0 | TransactionRelatedEntity |
| Transfers To Exempt Non Chrtbl Org | 0 | TransfersToExemptNonChrtblOrg |
| Activities Conducted Partnership | 0 | ActivitiesConductedPartnership |
| Schedule O Required | 1 | ScheduleORequired |
| Number Forms Transmitted With1096 | 6 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | 1 | ComplianceWithBackupWitholding |
| Number Of Employees | 0 | NumberOfEmployees |
| Unrelated Business Income | 0 | UnrelatedBusinessIncome |
| Foreign Financial Account | 0 | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTrans |
| Taxable Party Notification | 0 | TaxablePartyNotification |
| Non Deductible Contributions | 0 | NonDeductibleContributions |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributions |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOf |
| Funds To Pay Premiums | 0 | FundsToPayPremiums |
| Premiums Paid | 0 | PremiumsPaid |
| Indoor Tanning Services | 0 | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 17 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 17 | NumberIndependentVotingMembers |
| Family Or Business Relationship | 0 | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | 1 | DelegationOfManagementDuties |
| Changes To Organizing Docs | 0 | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuse |
| Members Or Stockholders | 0 | MembersOrStockholders |
| Election Of Board Members | 0 | ElectionOfBoardMembers |
| Decisions Subject To Approval | 0 | DecisionsSubjectToApproval |
| Minutes Of Governing Body | 1 | MinutesOfGoverningBody |
| Minutes Of Committees | 1 | MinutesOfCommittees |
| Officer Mailing Address | 0 | OfficerMailingAddress |
| Local Chapters | 0 | LocalChapters |
| Form990 Provided To Governing Body | 1 | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | 1 | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | 1 | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | 1 | RegularMonitoringEnforcement |
| Whistleblower Policy | 0 | WhistleblowerPolicy |
| Document Retention Policy | 0 | DocumentRetentionPolicy |
| Compensation Process CEO | 1 | CompensationProcessCEO |
| Compensation Process Other | 0 | CompensationProcessOther |
| Investment In Joint Venture | 0 | InvestmentInJointVenture |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
Name Business NameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | KAREN PELLETIER | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Telephone Number | 2077804741 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 96 FALMOUTH ST | AddressLine1 |
| City | PORTLAND | City |
| State | ME | State |
| ZIP Code | 041049300 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| No Listed Persons Compensated | X | NoListedPersonsCompensated |
Form990 Part VII Section A Form990PartVIISectionA (17 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | OfficerOfficer | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation |
|---|---|---|---|---|---|---|
| CHRISTOPHER ROBINSON | ||||||
| CHAIR | 1.00 | X | X | 0 | 0 | 0 |
| JOHN M CHANDLER | ||||||
| VICE CHAIR | 0.50 | X | X | 0 | 0 | 0 |
| CHRISTOPHER W EMMONS | ||||||
| DIRECTOR | 0.40 | X | 0 | 0 | 0 | |
| JAMES GEARY | ||||||
| DIRECTOR | 0.40 | X | 0 | 0 | 0 | |
| AMANDA V RAND | ||||||
| SECRETARY | 0.30 | X | X | 0 | 0 | 0 |
| PHILIP K RYAN | ||||||
| DIRECTOR | 0.20 | X | 0 | 0 | 0 | |
| TONY SHALHOUB | ||||||
| DIRECTOR | 0.00 | X | 0 | 0 | 0 | |
| RICHARD J VAIL | ||||||
| TREASURER | 1.10 | X | X | 0 | 0 | 0 |
| SELMA BOTMAN | ||||||
| EX OFFICIO | 0.20 | X | 0 | 0 | 0 | |
| KRISTEN HANSON | ||||||
| DIRECTOR | 0.20 | X | 0 | 0 | 0 | |
| EDWARD MCKERSIE | ||||||
| DIRECTOR | 0.20 | X | 0 | 0 | 0 | |
| JOYCE CASSIDY O'REILLY | ||||||
| DIRECTOR | 0.10 | X | 0 | 0 | 0 | |
| JON S OXMAN | ||||||
| DIRECTOR | 0.40 | X | 0 | 0 | 0 | |
| MARGARET WESTON | ||||||
| PRES/CEO | 14.80 | X | X | 0 | 0 | 0 |
| ERIN HURLEY | ||||||
| DIRECTOR | 0.00 | X | 0 | 0 | 0 | |
| DANIEL CREWE | ||||||
| DIRECTOR | 0.30 | X | 0 | 0 | 0 | |
| CYRUS HAGGE | ||||||
| DIRECTOR | 0.20 | X | 0 | 0 | 0 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 0 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 0 | TotalOtherCompensation |
| Number Individuals GT100 K | 0 | NumberIndividualsGT100K |
| Formers Listed | 0 | FormersListed |
| Total Comp GT150 K | 0 | TotalCompGT150K |
| Compensation From Other Sources | 0 | CompensationFromOtherSources |
| Number Of Contractors GT100 K | 0 | NumberOfContractorsGT100K |
| All Other Contributions | 1176993 | AllOtherContributions |
| Noncash Contributions | 211648 | NoncashContributions |
| Total Contributions | 1176993 | TotalContributions |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 461658 | TotalRevenueColumn |
| Exclusion | $461,658 | ExclusionAmount |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 1638651 | TotalRevenueColumn |
| Related Or Exempt Function Income | 0 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 0 | UnrelatedBusinessRevenue |
| Exclusion | $461,658 | ExclusionAmount |
Grants To Domestic Orgs GrantsToDomesticOrgs
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1256665 | Total |
| Program Services | 1256665 | ProgramServices |
Fees For Services Management FeesForServicesManagement
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 83580 | Total |
| Management And General | 63678 | ManagementAndGeneral |
| Fundraising | 19902 | Fundraising |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2236 | Total |
| Management And General | 2236 | ManagementAndGeneral |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 55148 | Total |
| Management And General | 55148 | ManagementAndGeneral |
Fees For Services Invst Mgmnt Fees FeesForServicesInvstMgmntFees
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2128 | Total |
| Management And General | 2128 | ManagementAndGeneral |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 13500 | Total |
| Management And General | 13500 | ManagementAndGeneral |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 4097 | Total |
| Management And General | 4097 | ManagementAndGeneral |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 4761 | Total |
| Management And General | 4761 | ManagementAndGeneral |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2811 | Total |
| Management And General | 2811 | ManagementAndGeneral |
Other Expenses OtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | BAD DEBT EXPENSE | Description |
| Total | 996 | Total |
| Program Services | 996 | ProgramServices |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1425922 | Total |
| Program Services | 1257661 | ProgramServices |
| Management And General | 148359 | ManagementAndGeneral |
| Fundraising | 19902 | Fundraising |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 49267 | BOY |
| EOY | 94725 | EOY |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1987654 | BOY |
| EOY | 1673406 | EOY |
Pledges And Grants Receivable PledgesAndGrantsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2231336 | BOY |
| EOY | 1195129 | EOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 3859 | BOY |
| EOY | 4887 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 23862 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 13054 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 15344 | BOY |
| EOY | 10808 | EOY |
Investments Other Securities InvestmentsOtherSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 13953651 | BOY |
| EOY | 17172897 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 18241111 | BOY |
| EOY | 20151852 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 61662 | BOY |
| EOY | 6714 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1129885 | BOY |
| EOY | 539305 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1191547 | BOY |
| EOY | 546019 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Follow SFAS117 | X | FollowSFAS117 |
Unrestricted Net Assets UnrestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | -509567 | BOY |
| EOY | 677277 | EOY |
Temporarily Restricted Net Assets TemporarilyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 3487847 | BOY |
| EOY | 4720162 | EOY |
Permanently Restricted Net Assets PermanentlyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 14071284 | BOY |
| EOY | 14208394 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 17049564 | BOY |
| EOY | 19605833 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 18241111 | BOY |
| EOY | 20151852 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | X | InfoInScheduleOPartXI |
| Reconcilation Revenue Expenses | 212729 | ReconcilationRevenueExpenses |
| Reconcilation Other Changes | 2343540 | ReconcilationOtherChanges |
| Info In Schedule O Part XII | X | InfoInScheduleOPartXII |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | 0 | AccountantCompileOrReview |
| FS Audited | 1 | FSAudited |
| Audit Committee | 1 | AuditCommittee |
| Financial Statement Separate | X | FinancialStatementSeparate |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequired |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| College Support Org170b1 Aiv | X | CollegeSupportOrg170b1Aiv |
Gifts Grants Contrib Received170 GiftsGrantsContribReceived170
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 4389144 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 3572944 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 2624191 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 1510819 | CurrentTaxYearMinus1Year |
| Current Tax Year | 1176993 | CurrentTaxYear |
| Total | 13274091 | Total |
Total170 Total170
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 4389144 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 3572944 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 2624191 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 1510819 | CurrentTaxYearMinus1Year |
| Current Tax Year | 1176993 | CurrentTaxYear |
| Total | 13274091 | Total |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Amounts Subst Contributors Total | 5379863 | AmountsSubstContributorsTotal |
| Public Support Total170 | 7894228 | PublicSupportTotal170 |
Gross Investment Income170 GrossInvestmentIncome170
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 704333 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 888851 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 676469 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 178536 | CurrentTaxYearMinus1Year |
| Current Tax Year | 461658 | CurrentTaxYear |
| Total | 2909847 | Total |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Support | 16183938 | TotalSupport |
| Public Support Pertcentage170 | 0.48780 | PublicSupportPertcentage170 |
| Public Support Pertcent Prior Year | 0.59360 | PublicSupportPertcentPriorYear |
| Thirty Three Percnt Tests CY170 | X | ThirtyThreePercntTestsCY170 |
Schedule B IRS990ScheduleB
Contributor Info ContributorInfo
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor Number | RESTRICTED | ContributorNumber |
Contributor Name Business ContributorNameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor Address US ContributorAddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Aggregate Contributions | RESTRICTED | AggregateContributions |
Schedule D IRS990ScheduleD
Current Year CurrentYear
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 13849196 | BeginningOfYearBalance |
| Contributions | 137110 | Contributions |
| Investment Earnings Or Losses | 2781805 | InvestmentEarningsOrLosses |
| Other Expenditures | 438266 | OtherExpenditures |
| End Of Year Balance | 16329845 | EndOfYearBalance |
Current Year Minus1 Year CurrentYearMinus1Year
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 12326645 | BeginningOfYearBalance |
| Contributions | 532386 | Contributions |
| Investment Earnings Or Losses | 1166691 | InvestmentEarningsOrLosses |
| Other Expenditures | 176526 | OtherExpenditures |
| End Of Year Balance | 13849196 | EndOfYearBalance |
Current Year Minus2 Years CurrentYearMinus2Years
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 12295010 | BeginningOfYearBalance |
| Contributions | 2151309 | Contributions |
| Investment Earnings Or Losses | -1540240 | InvestmentEarningsOrLosses |
| Other Expenditures | 579434 | OtherExpenditures |
| End Of Year Balance | 12326645 | EndOfYearBalance |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Permanent Endowment EOY Balance | 1.00000 | PermanentEndowmentEOYBalance |
| Endowments Held By Unrelated Orgs | 1 | EndowmentsHeldByUnrelatedOrgs |
| Endowments Held By Related Orgs | 0 | EndowmentsHeldByRelatedOrgs |
Other Land Buildings OtherLandBuildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 23862 | OtherCostOrOtherBasis |
| Depreciation | 13054 | Depreciation |
| Book Value | 10808 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 10808 | TotalOfBookValueLandBuildings |
Other Securities OtherSecurities (4 entries)
| DescriptionDescription | Book ValueBookValue | Method Of ValuationMethodOfValuation |
|---|---|---|
| U ME SYSTEM INVESTMENT POOL (PUBLICLY TRADED SECURITIES & OTHER INVESTMENTS) | 16066331 | F |
| NET INVESTMENT IN DIRECT FINANCING LEASE | 640833 | F |
| BEQUESTS | 363389 | F |
| BENEFICIAL INTEREST IN CRT | 102344 | F |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Securities | 17172897 | TotalOfBookValueSecurities |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | DUE TO UNIVERSITY OF SOUTHERN MAINE | Description |
| Amount | $539,305 | Amount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 539305 | TotalOfAmounts |
| Total Revenue | 1638651 | TotalRevenue |
| Total Expenses | 1425922 | TotalExpenses |
| Excess Or Deficit For Year | 212729 | ExcessOrDeficitForYear |
| Other | $2,343,540 | OtherAmount |
| Total Adjustments | 2343540 | TotalAdjustments |
| Excess Or Deficit Per FS | 2556269 | ExcessOrDeficitPerFS |
| Tot Revenue Etc Audited Fincl Stmt | 4218680 | TotRevenueEtcAuditedFinclStmt |
| Donated Srvc And Use Of Facilities | 236489 | DonatedSrvcAndUseOfFacilities |
| Other Revenues | 2343540 | OtherRevenues |
| Revenue Not Rptd F990 | 2580029 | RevenueNotRptdF990 |
| Revenue Subtotal | 1638651 | RevenueSubtotal |
| Revenue Not Rptd On Fin Stmt | 0 | RevenueNotRptdOnFinStmt |
| Total Revenue Per Form990 | 1638651 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 1662411 | TotExpensesEtcAuditedFinclStmt |
| Donated Services Use Of Facilities | 236489 | DonatedServicesUseOfFacilities |
| Expenses Not Rptd F990 | 236489 | ExpensesNotRptdF990 |
| Expenses Subtotal | 1425922 | ExpensesSubtotal |
| Expenses Not Rptd On Fin Stmt | 0 | ExpensesNotRptdOnFinStmt |
| Total Expenses Per Form990 | 1425922 | TotalExpensesPerForm990 |
Form990 Schedule D Part XIV Form990ScheduleDPartXIV (4 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: | PART V, LINE 4: | THE ENDOWMENT FUNDS ARE TO BE USED FOR SCHOLARSHIPS, PROFESSORSHIPS AND OPERATIONS. |
| DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: | PART X: | THE FINANCIAL ACCOUNTING STANDARDS BOARD ISSUED NEW GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES AND THIS NEW GUIDANCE WAS ADOPTED BY THE FOUNDATION EFFECTIVE JULY 1, 2009. ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE FOUNDATION MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE FOUNDATION AND RECOGNIZE A TAX LIABILITY (OR ASSET) IF THE FOUNDATION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION. MANAGEMENT EVALUATED THE FOUNDATION'S TAX POSITIONS AND CONCLUDED THAT THE FOUNDATION HAS MAINTAINED ITS TAX EXEMPT STATUS AND HAS TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS. THEREFORE, NO PROVISION OR LIABILITY FOR INCOME TAXES HAS BEEN INCLUDED IN THE FINANCIAL STATEMENTS. THE FOUNDATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. THE FOUNDATION BELIEVES IT IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY THE U.S. FEDERAL, STATE OR LOCAL TAX AUTHORITIES FOR YEARS BEFORE 2007. |
| PART XI, LINE 8 - OTHER ADJUSTMENTS: | NET UNREALIZED AND REALIZED GAINS (LOSSES) ON POOLED INVESTMENTS 2,343,540. | |
| PART XII, LINE 2D - OTHER ADJUSTMENTS: | NET UNREALIZED AND REALIZED GAINS (LOSSES) ON POOLED INVESTMENTS 2,343,540. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Records Maintained | 1 | RecordsMaintained |
Recipient Table RecipientTable (4 entries)
| Address Line1AddressUS/AddressLine1 | CityAddressUS/City | StateAddressUS/State | ZIP CodeAddressUS/ZIPCode | EIN Of RecipientEINOfRecipient | Amount Of Cash GrantAmountOfCashGrant | Purpose Of GrantPurposeOfGrant | Amount Of Non Cash AssistanceAmountOfNonCashAssistance | Method Of ValuationMethodOfValuation | Description Of Non Cash AssistanceDescriptionOfNonCashAssistance |
|---|---|---|---|---|---|---|---|---|---|
| UNIVERSITY OF SOUTHERN MAINE | |||||||||
| 14 CENTRAL ST | BANGOR | ME | 04401 | 016000769 | 605393 | DONOR FUNDS RELEASED TO FUND USM PROGRAMS AND CAPITAL PROJECT | |||
| UNIVERSITY OF SOUTHERN MAINE | |||||||||
| 14 CENTRAL ST | BANGOR | ME | 04401 | 016000769 | 438266 | ENDOWMENT INCOME GIFTED TO USM | |||
| UNIVERSITY OF SOUTHERN MAINE | |||||||||
| 14 CENTRAL ST | BANGOR | ME | 04401 | 016000769 | OSHER MAP LIBRARY COLLECTION | 173110 | VENDOR VALUATION AND INVOICES | DONOR'S GIFT FOR THE PURCHASE OF RARE BOOKS & MAPS | |
| UNIVERSITY OF SOUTHERN MAINE | |||||||||
| 14 CENTRAL ST | BANGOR | ME | 04401 | 016000769 | 39896 | CHANGE IN DISCOUNT ACTIVITY DUE TO PAYMENTS FOR CONSTRUCTION COSTS | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Nbr Of501 C3 And Govt Grants | 1 | TotalNbrOf501C3AndGovtGrants |
Form990 Schedule I Part IV Form990ScheduleIPartIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | PROCEDURE FOR MONITORING GRANTS IN THE U.S.: | Identifier |
| Return Reference | PART I, LINE 2: | ReturnReference |
| Explanation | SCHEDULE I, PART I, LINE 2: FOR TEMPORARILY RESTRICTED FUNDS - AN INVOICING SYSTEM IS USED IN ACCORDANCE WITH AN OPERATING AGREEMENT ESTABLISHED WITH UNIVERSITY OF MAINE SYSTEM, AND CONSISTENT WITH THE DONOR'S GIFT INTENTIONS. FOR ENDOWMENT INCOME GIFTED - THE FUNDS ARE REMITTED TO UNIVERSITY OF MAINE SYSTEM TO BE USED IN ACCORDANCE WITH DONOR AGREEMENTS. | Explanation |
Schedule M IRS990ScheduleM
Securities Publicly Traded SecuritiesPubliclyTraded
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | X | NonCashCheckbox |
| Number Of Contributions | 1 | NumberOfContributions |
| Noncash Contribs Rptd F990 | 211648 | NoncashContribsRptdF990 |
| Method Of Determining Revenues | MEAN STOCK VALUE | MethodOfDeterminingRevenues |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of8283 Received | 0 | NumberOf8283Received |
| Any Property That Must Be Held | 0 | AnyPropertyThatMustBeHeld |
| Review Process Unusual NC Gifts | 1 | ReviewProcessUnusualNCGifts |
| Third Parties Used | 0 | ThirdPartiesUsed |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (7 entries)
| IdentifierIdentifier | ExplanationExplanation | Return ReferenceReturnReference |
|---|---|---|
| FORM 990, PART VI, SECTION A, LINE 3 | THE FOUNDATION PAYS A MANAGEMENT FEE TO THE UNIVERSITY OF MAINE SYSTEM FOR STAFF SUPPORT. STAFF SUPPORT INCLUDES THE CEO, AN OFFICER OF THE FOUNDATION. | |
| FORM 990, PART VI, SECTION B, LINE 11 | THE RETURN IS PREPARED BY OUR OUTSIDE AUDITORS IN CONJUNCTION WITH INFORMATION PROVIDED BY THE FOUNDATION'S ACCOUNTANT. THE DRAFT RETURN IS PROVIDED TO THE FOUNDATION'S FINANCE & AUDIT COMMITTEE FOR REVIEW AND DISCUSSION. THE FINAL DRAFT RETURN IS REVIEWED BY THE FOUNDATION'S FINANCE DIRECTOR AND THEN PROVIDED TO THE FOUNDATION'S BOARD OF DIRECTORS FOR FINAL APPROVAL. ONCE APPROVED THE FINAL RETURN IS FILED WITH THE FOUNDATION PRESIDENT'S SIGNATURE. | |
| ALL OFFICERS AND DIRECTORS WITH VOTING AUTHORITY ANNUALLY COMPLETE USM FOUNDATION'S CODE OF ETHICS AND CONFLICT OF INTEREST AGREEMENTS. A CHECKLIST IS MAINTAINED TRACKING ALL FORMS RECEIVED AND REVIEWED FOR COMPLIANCE. | FORM 990, PART VI, SECTION B, LINE 12C | |
| THE UNIVERSITY OF MAINE SYSTEM REVIEWS AND APPROVES THE COMPENSATION FOR MARGARET WESTON, THE PRESIDENT/CEO. | FORM 990, PART VI, SECTION B, LINE 15A | |
| THE FOUNDATION DOES MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. | FORM 990, PART VI, SECTION C, LINE 19 | |
| CHANGES IN NET ASSETS OR FUND BALANCES: | NET UNREALIZED AND REALIZED GAINS (LOSSES) ON POOLED INVESTMENTS 2,343,540. TOTAL TO FORM 990, PART XI, LINE 5: 2,343,540. | FORM 990, PART XI, LINE 5: |
| THE FINANCE AND AUDIT COMMITTEE IS RESPONSIBLE FOR OVERSEEING THE AUDIT. THE BOARD OF DIRECTORS IS RESPONSIBLE FOR SELECTING AN INDEPENDENT AUDITOR. THE PROCESS HAS NOT CHANGED FROM THE PREVIOUS YEAR. | FORM 990, PART XII, LINE 2C: |
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