University of Maine Foundation
Two Alumni Place, Orono, ME · IRS data through FY2024
Revenue, expenses and net assets
Revenue Expenses Net assets
| Tax year | Revenue | Expenses | Net assets |
|---|---|---|---|
| FY2024 | $60,444,315 | $31,070,426 | $447,093,141 |
| FY2023 | $64,724,867 | $32,864,307 | $378,505,490 |
| FY2022 | $40,999,640 | $44,550,845 | $316,872,718 |
| FY2021 | $22,127,345 | $11,985,982 | $381,933,990 |
| FY2020 | $29,959,058 | $21,628,075 | $275,804,187 |
| FY2019 | $29,245,131 | $19,584,409 | $266,673,216 |
| FY2018 | $40,850,778 | $17,883,907 | $256,211,867 |
| FY2017 | $19,762,322 | $15,271,430 | $226,999,051 |
| FY2016 | $13,693,961 | $13,343,356 | $202,692,291 |
| FY2015 | $19,531,661 | $11,993,701 | $209,910,575 |
| FY2014 | $28,274,505 | $13,268,681 | $213,073,618 |
| FY2013 | $18,544,142 | $8,420,035 | $187,133,874 |
| FY2012 | $17,588,124 | $10,249,805 | $173,056,044 |
| FY2011 | $16,562,339 | $8,906,371 | $175,940,293 |
Form 990 filings
The returns filed by University of Maine Foundation (EIN 01-6011501), including Form 990 PDFs and e-file data by year, are available in ProPublica's Nonprofit Explorer. The figures on this page come from IRS data files built from those returns.
Where the revenue came from
| Source | Amount | % of revenue |
|---|---|---|
| Contributions & grants | $48,090,132 | 80% |
| Program service revenue | $3,906,105 | 6% |
| Other revenue | $8,448,078 | 14% |
Where the money was spent
| Category | Amount | % of expenses |
|---|---|---|
| Program services | $24,296,130 | 78% |
| Management & general | $2,643,847 | 9% |
| Fundraising | $4,130,449 | 13% |
What the numbers show
- Contributions & grants made up 80% of total revenue in FY2024.
- Program services accounted for 78% of functional expenses, management & general 9%, and fundraising 13%.
- 78% of functional expenses went to program services in FY2024. That is higher than 34.5% of 29 Education organizations in ME.
- Net assets covered about 172.7 months of expenses at the end of the reporting year. That puts it in the 87th percentile among 349 Education organizations in ME.
- Total revenue was higher than 98.3% of 351 Education organizations in ME.
- Total revenue rose from $16,562,339 in FY2011 to $60,444,315 in FY2024. Revenue increased in 8 and decreased in 5 of 13 year-over-year comparisons.
- Expenses exceeded revenue in 1 of 14 reported years (FY2022).
- The highest revenue on record here is $64,724,867 in FY2023.
- Net assets grew from $175,940,293 to $447,093,141 between FY2011 and FY2024.
- Contributions and grants made up 40% of revenue in FY2011 and 80% in FY2024.
- Listed in the IRS Publication 78 data as eligible to receive tax-deductible contributions (public charity).
Figures compared against other organizations of the same NTEE program area in the same state. See the methodology page for how these are calculated and the guide to reading nonprofit financials for their limits.
About this organization
Fundraising and endowment management for the benefit of the University of Maine.
IRS status
| Ruling year | 1940 |
| Subsection | 501(c)(3) |
| Classification | Public charity |
| Program area (NTEE) | B110 — Education (in ME) |
| Donations | Listed in the IRS Publication 78 data as eligible to receive tax-deductible contributions (public charity). |
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Source: Internal Revenue Service — Exempt Organizations Business Master File (downloaded November 4, 2026), Statistics of Income extracts, Form 990 e-file data, Publication 78 and the Automatic Revocation list. Figures are as reported by the organization; IRS processing may adjust them. This is not a charity rating and not tax advice. Confirm deductibility in IRS Tax Exempt Organization Search.
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