2011-11-14T14:35:23-06:00 2011-06-30 Baker Newman & Noyes LLC Box 507 Portland ME 04112 990 2010-07-01 271363414 The Foundation for Maine's Community Colleges FOUN 2073216152 54 Lighthouse Circle South Portland ME 04106 Elizabeth Shorr 2073216152 2011-11-14 Nicholas E Porto 2078792100 2011-11-14 2010 2016-03-07 17:11:31Z Elizabeth Shorr 54 Lighthouse Circle South Portland ME 04106 7234619 0 X www.maineccfoundation.org X 2009 ME Provide support and resources for Maine's seven community colleges. 6 6 2 26 0 0 1397110 7232349 0 0 152 2270 0 0 1397262 7234619 0 240251 0 0 88247 232490 145282 149451 150606 19057 136525 252586 758717 1144676 6475902 1190161 7814381 45485 193803 1144676 7620578 The Foundation for Maine's Community Colleges is dedicated to ensuring that the State's seven community colleges have the resources they need to provide a high quality, affordable, and accessible college education for Maine people. 0 0 548798 240251 0 The Foundation for Maine's Community Colleges supported the Maine Community College System and its seven colleges (the System) by:- Developing sustainable sources of philanthropic funds for the System;- Advancing the public purpose of the System; and- Supporting the System's strategic plan. 548798 1 1 0 0 0 0 0 0 1 1 0 0 0 0 1 1 0 0 0 0 0 0 1 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 2 0 2 1 0 0 0 0 0 0 0 0 0 0 X 6 6 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 ME X Elizabeth Shorr 2073216152 54 Lighthouse Circle South Portland ME 04106 Elaine Rosen 5.00 X 0 0 0 S Donald Sussman 5.00 X 0 0 0 Hon John R McKernan Jr 5.00 X X 0 0 0 Lisa Gorman 5.00 X X 0 0 0 Dr John Fitzsimmons 5.00 X X 0 0 0 Hon Daniel Wathen 5.00 X X 0 0 0 Elizabeth Shorr 40.00 X 123567 0 32605 123567 0 32605 1 0 1 0 Community Counselling Service Co LLC 461 Fifth Avenue New York NY 10017 Fundraising Services 149451 1 7232349 22510 7232349 2270 2270 7234619 0 0 2270 240251 240251 156172 124938 31234 53063 42450 10613 9790 7832 1958 1845 1476 369 11620 9296 2324 210 168 42 7375 7375 149451 149451 12946 10357 2589 3567 2854 713 5838 4671 1167 1125 900 225 3521 2817 704 Uncollectible Pledges 100788 100788 1155 1155 758717 548798 59313 150606 191746 2864070 998415 4928926 22510 1125 0 21385 1190161 7814381 45485 193803 45485 193803 X 147676 1120334 997000 6292338 0 207906 1144676 7620578 1190161 7814381 6475902 0 X X 0 1 1 X 0 X 1397110 7232349 8629459 1397110 7232349 8629459 3848171 4781288 152 2270 2422 8631881 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 997000 5962295 459051 6500244 0 997000 997000 0.00000 0.03200 0.96800 0 0 22510 1125 21385 21385 7234619 758717 6475902 0 6475902 7290521 156690 156690 7133831 100788 100788 7234619 814619 156690 156690 657929 100788 100788 758717 Description of Intended Use of Endowment Funds: Part V, Line 4: The Organization uses its endowment funds to provide scholarships to students attending Maine's community colleges as well as provide funds to further its exempt purpose. Description of Uncertain Tax Positions Under FIN 48: Part X: The Foundation is a tax exempt organization under Section 501(c)(3) of the Internal Revenue Code, and accordingly, no provision for state or federal income taxes has been made in the audited financial statements. Management has evaluated the Foundation's tax positions and concluded that the Foundation 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 XII, Line 4b - Other Adjustments: Uncollectible Pledges 100,788. Part XIII, Line 4b - Other Adjustments: Uncollectible Pledges 100,788. X X 1 Community Counselling Service Co LLC 461 Fifth Avenue New York NY 10017 Assisting in fundraising campaign 0 3357740 149451 3208289 3357740 149451 3208289 ME Explanation of Fundraising Payments Schedule G, Part I, Line 2b, Column (v) Payments have been made as compensation for the planning, organizing, and initializing a major fund-raising campaign for the Organization. The purpose of the campaign is to raise funds and other support for capital, equipment and technology, and programmatic and student support. 1 Maine Community College System 323 State Street Augusta ME 04330 010416015 N/A 240251 General Support of Maine's community colleges. 1 Procedure for Monitoring Grants in the U.S.: Part I, Line 2: Schedule I, Part I, Line 2: The Foundation only awards grants to the Maine Community College System, which is an instrumentality of the State of Maine. Additional monitoring is not deemed necessary. X 1 1 X 0 0 0 0 0 0 0 0 0 Elizabeth Shorr 123138 0 0 0 429 0 4092 0 28513 0 156172 0 0 0 Part I, Line 1a Cumberland Club membership for Elizabeth Shorr, president & CEO. This is a business club, the membership to which is used exclusively for business purposes. Form 990, Part VI, Section A, line 3 The Maine Community College System, pursuant to a written agreement, provides certain management and other services to the Foundation. These services include financial, investment, human resources, and public relations services. Form 990, Part VI, Section B, line 11 The Form 990 was prepared by the Foundation's outside accounting firm, reviewed in detail by and with the Foundation's management team, and presented to the board of directors at a meeting. Form 990, Part VI, Section B, line 12c Annually, each board member must file a signed conflict of interest disclosure form with the foundation, as required by the conflict of interest policy. Form 990, Part VI, Section B, line 15a The president's compensation arrangement is determined by taking into account information about compensation paid by similarly-situated organizations for similar services. Currently, the Foundation has no paid officers or key employees other than the president; if and when such employees are hired, a similar process will be used to establish their compensation. Form 990, Part VI, Section C, line 19 The Foundation's governing documents, conflict of interest policy, and financial statements are all available to the public upon request. Oversight of Audit Form 990, Part XI, Line 2c: The audit process has not changed from the prior year.