Nonprofit · EIN 04-3350930
UNIVERSITY OF SOUTHERN MAINE FOUNDATION
Tax-exempt · PORTLAND, ME 04103
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $14,278,860 | $7,366,949 | $6,911,911 | $58,582,559 | $46,913 | $58,535,646 |
| June 30, 2024 | 990 | $8,925,589 | $20,232,872 | -$11,307,283 | $49,556,091 | $40,370 | $49,515,721 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $10,519,342
- Program service revenue
- $2,103,141
- Investment income
- $1,656,377
- Net gain from sales of assets
- -$58,979
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $4,522,355
- Compensation of officers, directors and key employees
- $243,958
- Other salaries and wages
- $1,483,262
- Salaries, compensation and benefits (total)
- $2,226,027
- Professional fundraising fees
- $70,000
- Legal fees
- $17,611
- Accounting fees
- $22,455
- Travel
- $6,891
- Program services (functional)
- $5,161,692
- Management and general (functional)
- $1,029,573
- Fundraising (functional)
- $1,175,684
Balance sheet and other
- Total assets, start of year
- $49,556,091
- Total assets, end of year
- $58,582,559
- Total liabilities, end of year
- $46,913
- Net assets, end of year
- $58,535,646
- Publicly traded securities
- $44,872,700
- Net assets without donor restrictions
- $1,021,741
- Net assets with donor restrictions
- $57,513,905
- Gross receipts
- $27,849,035
- Employees
- 27
- Volunteers
- 60
- Year formed
- 1996
- 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 June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Ainsley Newman Wallace | President & CEO (Thru 9/30/24) Officer | 40 | $164,024 | $38,476 |
| Corey Hascall | President & CEO Officer | 40 | $160,089 | $23,555 |
| Erin Macey | Executive Director Highest-paid employee | 40 | $120,904 | $37,899 |
| Stephen deCastro | Chair Trustee or director, Officer | 1 | $0 | $0 |
| Dean Murray '87 | Vice Chair Trustee or director, Officer | 1 | $0 | $0 |
| Stephen Irish '81 | Treasurer Trustee or director, Officer | 1 | $0 | $0 |
| Todd Chamberlain | Secretary Trustee or director, Officer | 1 | $0 | $0 |
| Daniel Crewe '22H | Director Trustee or director | 1 | $0 | $0 |
| Justin Alfond | Director Trustee or director | 1 | $0 | $0 |
| Kelly Barden | Director Trustee or director | 1 | $0 | $0 |
| Kenneth Blaschke | Director Trustee or director | 1 | $0 | $0 |
| Kelly Brewer '11 | Director Trustee or director | 1 | $0 | $0 |
| Robert H Dodge | Director Trustee or director | 1 | $0 | $0 |
| Dajaun Eubanks | Director Trustee or director | 1 | $0 | $0 |
| Timothy Griffin '05 '12G | Director Trustee or director | 1 | $0 | $0 |
13 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Mo Ibourk '03 '05G | Director Trustee or director | 1 | $0 |
| Daniel Kleban '04 | Director Trustee or director | 1 | $0 |
| Mike Marocco '81 | Director Trustee or director | 1 | $0 |
| Rebecca McKinnell '06 | Director Trustee or director | 1 | $0 |
| Casey Prentice | Director Trustee or director | 1 | $0 |
| John Ryan | Director Trustee or director | 1 | $0 |
| Lois Skillings '91G | Director Trustee or director | 1 | $0 |
| Ian Slaymaker '07 PhD | Director Trustee or director | 1 | $0 |
| Ray Stevens PhD '86 14H | Director Trustee or director | 1 | $0 |
| Linda Varrell '00 | Director Trustee or director | 1 | $0 |
| Dr Jacqueline Edmondson | Executive Officio Trustee or director | 1 | $0 |
| Rebecca Swanson Conrad | Affliliated Representative Trustee or director | 1 | $0 |
| Jana Magnuson | Volunteer Finance Committe Trustee or director | 1 | $0 |
990 for the year ended June 30, 2024: 28 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Ainsley Newman Wallace | President Officer | 40 | $192,740 | $47,793 |
| Corey Hascall | Vice President Officer | 40 | $143,988 | $24,821 |
| Erin Macey | Executive Director Highest-paid employee | 40 | $119,750 | $42,170 |
| Stephen deCastro | Chair Trustee or director, Officer | 0 | $0 | $0 |
| Dean Murray '87 | Vice Chair Trustee or director, Officer | 0 | $0 | $0 |
| Timothy Griffin '05 '12G | Treasurer Trustee or director, Officer | 0 | $0 | $0 |
| Todd Chamberlain | Secretary Trustee or director, Officer | 0 | $0 | $0 |
| Daniel Crewe | Director Trustee or director | 0 | $0 | $0 |
| Justin Alfond | Director Trustee or director | 0 | $0 | $0 |
| Kelly Barden | Director Trustee or director | 0 | $0 | $0 |
| Kenneth Blaschke | Director Trustee or director | 0 | $0 | $0 |
| Kelly Brewer '11 | Director Trustee or director | 0 | $0 | $0 |
| Robert H Dodge | Director Trustee or director | 0 | $0 | $0 |
| Dajaun Eubanks | Director Trustee or director | 0 | $0 | $0 |
| Mo Ibourk '03 '05G | Director Trustee or director | 0 | $0 | $0 |
| Stephen Irish '81 | Director Trustee or director | 0 | $0 | $0 |
| Daniel Kleban '04 | Director Trustee or director | 0 | $0 | $0 |
| Mike Marocco '81 | Director Trustee or director | 0 | $0 | $0 |
| Rebecca McKinnell '06 | Director Trustee or director | 0 | $0 | $0 |
| Casey Prentice | Director Trustee or director | 0 | $0 | $0 |
| John Ryan | Director Trustee or director | 0 | $0 | $0 |
| Lois Skillings '91G | Director Trustee or director | 0 | $0 | $0 |
| Ian Slaymaker '07 PhD | Director Trustee or director | 0 | $0 | $0 |
| Ray Stevens PhD '86 14H | Director Trustee or director | 0 | $0 | $0 |
| Linda Varrell '00 | Director Trustee or director | 0 | $0 | $0 |
| Dr Jacqueline Edmondson | Executive Officio Trustee or director | 1 | $0 | $0 |
| Rebecca Swanson Conrad | Affliliated Representative Trustee or director | 1 | $0 | $0 |
| Jana Magnuson | Volunteer Finance Committee Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 96 FALMOUTH ST, PORTLAND, ME 04103-4864
- In care of
- % COREY HASCALL
- Principal officer (990 for 2024)
- Corey Hascall, PO Box 9300, Portland, ME 041049300
- Signed the 990
- Corey Hascall, President & CEO
- Phone
- (207) 780-4708
- Return prepared by
- Wipfli LLP
Mission
To actively build and steward resources in support of the University of Southern Maine's mission of education, research, and public service and to educate the public about the activities and programs of the University of Southern Maine.
Program accomplishments
- Continuing to build its fundraising capacity, the USM Foundation had a record-breaking fundraising year (outside of a comprehensive campaign), having raised more than $10M in philanthropic support for USM programs, people and facilities.Highlights include completing the fundraising for the MEMIC John T. Leonard Endowed Chair in Risk Management & Insurance and adding $6M to the Promise Scholarship Endowed Fund. The Foundation hosted a stewardship event to honor and recognize members of the 1878 Legacy Society which includes individuals who are providing philanthropic support to USM through their estate plans.The Foundation continued efforts to deepen its engagement with USM graduates over the past year, having completed an alumni survey for the first time, while also more than doubling the number of first-time alumni donors to the USM Foundation. Participation in the Foundation's Golden Graduates program, honoring USM graduates from more than 50 years ago, reached an all-time high.Expenses $5,161,692 · grants $4,522,355 · revenue $2,103,141
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 June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 04-3350930
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Organization supporting a government college or university
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2000
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Philanthropy, voluntarism and grantmaking foundations (T50)
- Assets (IRS master file)
- $58,582,559
- Income (IRS master file)
- $27,849,035
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $14,278,860 | $7,366,949 | $58,582,559 | XML |
| 990 | June 2024 | $8,925,589 | $20,232,872 | $49,556,091 | XML |
| 990 | June 2023 | $9,872,134 | $8,194,087 | $57,792,646 | IRS |
| 990 | June 2022 | – | – | – | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
| 990 | June 2019 | – | – | – | 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 04-3350930).
Questions about UNIVERSITY OF SOUTHERN MAINE FOUNDATION
- What is the EIN of UNIVERSITY OF SOUTHERN MAINE FOUNDATION?
- The employer identification number (EIN) of UNIVERSITY OF SOUTHERN MAINE FOUNDATION is 04-3350930.
- Is UNIVERSITY OF SOUTHERN MAINE FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2000.
- Are donations to UNIVERSITY OF SOUTHERN MAINE FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does UNIVERSITY OF SOUTHERN 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 SOUTHERN MAINE FOUNDATION due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did UNIVERSITY OF SOUTHERN MAINE FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of UNIVERSITY OF SOUTHERN MAINE FOUNDATION?
- The 990 for the year ended June 30, 2025 names Corey Hascall.
- Who are the officers and directors of UNIVERSITY OF SOUTHERN MAINE FOUNDATION?
- The 990 for the year ended June 30, 2025 lists 28 people; 3 received compensation from the organization, the highest $164,024 (Ainsley Newman Wallace, President & CEO (Thru 9/30/24)).
- How much revenue does UNIVERSITY OF SOUTHERN MAINE FOUNDATION have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $14,278,860, expenses of $7,366,949 and total assets of $58,582,559 at year end.
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All nonprofits in PORTLAND · Maine · Philanthropy, voluntarism and grantmaking foundations