2023-11-02T11:56:16-05:00 2022-12-31 010494526 Baker Newman & Noyes Box 507 Portland ME 04112 990 2022-01-01 010473137 Edward H Daveis Benevolent Fund EDWA 2076679735 245 Main Street Ellsworth ME 04605 Michele Camarco Treasurer/CFO 2076679735 2023-10-31 1 Michele Camarco 999009999 0 Connor Smart P02285543 2078792100 2023-10-31 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z Deborah Ellwood 245 Main Street Ellsworth ME 04605 100182 0 X www.mainecf.org X 1946 ME Support the Maine Community Foundation (MCF) and its charitable and educational purposes. 3 3 0 3 0 0 0 0 0 0 0 0 159530 100182 159530 100182 85500 93500 0 0 0 0 0 0 0 66606 56307 152106 149807 7424 -49625 2719591 2252826 0 0 2719591 2252826 Support the Maine Community Foundation (MCF) and its charitable and educational purposes. 0 0 93649 93500 0 The Edward H. Daveis Benevolent Fund benefits nonprofit organizations serving the greater Portland area. The Fund currently focuses grantmaking efforts on organizations in the geographic area that work with: (1) young children aged birth to eight, their families and teachers, and (2) youth leadership programs for students through high school. Collaboration between and among organizations is encouraged. Requests for discrete projects are preferred over those for general operations. 93649 1 0 0 0 0 0 0 0 0 1 0 1 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 3 3 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X X Michele Camarco 2076679735 245 Main Street Ellsworth ME 04605 Erik C Jorgensen Trustee 0.10 0.00 X 0 0 0 Nicole Witherbee Trustee 0.10 0.00 X 0 0 0 Katharine Fullam Harris Chair/Trustee 0.10 0.00 X X 0 0 0 Sterling Speirn MCF President & CEO (end 6/2022) 0.10 50.20 X 0 82707 7269 Deborah Elwood MCF President & CEO (start 7/2022) 0.10 50.20 X 0 171577 13009 Michele Camarco Treasurer/MCF CFO 0.10 50.20 X 0 180419 28259 0 434703 48537 0 0 1 0 0 Share-MCF Invest. Inc. 523000 92637 92637 Share-MCF Cap. Gains 523000 7545 7545 100182 100182 0 0 100182 93500 93500 34461 34461 Share-MCF Invest. Fees 21697 21697 Share-MCF Program Exp. 149 149 149807 93649 56158 0 2719591 2252826 2719591 2252826 0 0 X 2719591 2252826 2719591 2252826 2719591 2252826 -49625 -417140 0 X X 0 1 X 1 0 X X 1 Maine Community Foundation 010391479 8 1 34461 0 1 34461 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 Part IV, Section A, Line 1: The Edward H. Daveis Benevolent Fund's organizational documents identify its supported organization as the Maine Community Foundation (listed by name in Part I) and also a class of organizations designated as "charitable organizations in the Greater Portland Maine area". The Edward H. Daveis Benevolent Fund supports these charitable organizations through the administration of grants. The Supporting Organization's more narrow focus allows for it to better coordinate these grant awards that, but for the existence of the Daveis Fund, would otherwise be administered through the Maine Community Foundation. Part IV, Section B, Line 2: Please refer to explanation for Schedule A, Part IV, Section A, Line 1. 2719591 -338654 93500 150 34461 2252826 2376955 463536 85500 35400 2719591 2166589 327697 88000 29331 2376955 2003416 278410 85700 29537 2166589 2170896 -48651 86370 2000 30459 2003416 1.00000 0.00000 0.00000 0 1 1 0 Allocable share of MCF (supported organization) investment portfolio 2252826 F 2252826 X Part V, Line 4: The intended use of the endowment funds is for charitable grant making to non-profit organizations in the greater Portland, ME area. Part X, Line 2: MaineCF and its supporting organization, Maine Community Supporting Foundation, are tax-exempt organizations as described in Section 501(c)(3) of the Internal Revenue Code (the Code) and are generally exempt from income taxes pursuant to Section 501(a) of the Code and qualify as public charities under Section 170(b)(1)(A)(vi) of the Code. The Edward H. Daveis Benevolent Fund and the Vincent B. and Barbara G. Welch Supporting Organization are exempt from federal income taxes under Section 501(a) of the Code. MaineCF pays unrelated business income taxes on income from certain types of transactions within investment partnerships. Under Maine State law, the Foundation is not exempt from state sales tax on taxable purchases. In certain circumstances, tax-exempt organizations may 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. 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 consolidated financial statements. 1 Olympia Snowe Womens Leadership Institute One Canal Plaza Portland ME 04101 461398374 501(c)(3) 6000 0 Women's Leadership Maine Boys to Men PO Box 8325 Portland ME 04104 201117811 501(c)(3) 7500 0 Youth Development Programs Mayo Street Arts 10 Mayo Street Portland ME 04101 271461543 501(c)(3) 7500 0 Arts & Culture Palaver Strings Incorporated 45 Exchange Street 300E Portland ME 04101 474914834 501(c)(3) 7500 0 Music Education The Telling Room 225 Commercial Street Suite 201 Portland ME 04101 743136956 501(c)(3) 7500 0 Arts Education Youth Led Justice 175 Lancaster Street Portland ME 04101 873958747 501(c)(3) 7500 0 Family Services League of Women Voters of Maine Education Fund Inc PO Box 18187 Portland ME 04112 043386477 501(c)(3) 10000 0 Voter Education & Registration Peaks Island Childrens Workshop 71 Herman Avenue Peaks Island ME 04108 010482767 501(c)(3) 10000 0 Youth Development Rippleffect Inc PO Box 441 Portland ME 04112 010521260 501(c)(3) 10000 0 Youth Development 9 0 Part I, Line 2: Grant payments to organizations are initiated by recommendation from the review committee which consists of the board and directors. Grants are authorized by a vote at an annual committee meeting and then documented in the minutes of the committee meeting. Prior to awarding a grant, determination is made that the organization is a 501(c)(3) or a public organization in good standing. For grants to organizations, an award letter is sent with each grant check. The award letter clearly states the purpose of the grant and the terms of the award, which include a requirement that the organization will use the grant only for the purpose stated in the letter. The award letter also states that by depositing the grant check, the organization agrees to and accepts the terms of the award. Organizations receiving solicited grants are required to submit a project progress report approximately 10 months after receiving payment of the grant. Organizations that fail to file a progress report are not eligible for future funding for one year or until the missing report is filed. 0 0 0 0 0 0 0 0 0 Michele Camarco Treasurer/MCF CFO 0 178410 0 0 0 2009 0 16416 0 11843 0 208678 0 0 Deborah Elwood MCF President & CEO (start 7/2022) 0 144782 0 0 0 26795 0 11895 0 1114 0 184586 0 0 Part I, Line 3 The Edward H. Daveis Benevolent Fund does not have any employees. However, the Vice President/CFO of Maine Community Foundation (MCF), the supported organization, oversees the finances of the Edward H. Daveis Benevolent Fund, and the MCF President & CEO has been named as the Organization's Principal Officer. MCF uses a compensation committee, an independent compensation consultant, the Form 990 of other organizations, compensation surveys or studies, and approval by the board or a compensation committee to assist in establishing the compensation for this position. Form 990, Part VI, Section B, line 11b A copy of Form 990 is sent electronically to all trustees for review and comment. Once the allotted period of time has passed for trustee review, any additional corrections are made and Form 990 is filed with the IRS. Form 990, Part VI, Section B, line 12c Annually, all directors and officers are required to read the conflict of interest policy and sign a disclosure form on which each individual acknowledges their obligation to disclose any conflict of interest and comply with the conflict of interest policy. Directors also abstain from voting to approve grants to any organization for which they have an interest. Form 990, Part VI, Section B, line 15 The Edward H. Daveis Benevolent Fund has no employees. However, the CEO and other officers of the supported organization, Maine Community Foundation (MCF), oversee the Edward H. Daveis Benevolent Fund. The process for determining compensation for the CEO of MCF includes use of an independent compensation consultant, compensation survey, and approval by the MCF Board Executive Committee, which acts as the compensation committee for the MCF Board. Periodic surveys and use of independent compensation consultants are employed to assist in determining compensation for officers and key employees. MCF also maintains salary ranges by position grades, which are reviewed and updated annually. Form 990, Part VI, Section C, line 19 The governing documents, Form 990 and audited consolidated financial statements are available upon request. In addition, Form 990 and the audited consolidated financial statements are posted on the website of the supported organization, Maine Community Foundation, at www.mainecf.org. Form 990, Part XII, Line 2c: The audit process has not changed from the prior year. Maine Community Foundation 245 Main Street Ellsworth ME 04605 010391479 Statewide community foundation ME 501(c)(3) Line 8 N/A 0 Vincent B and Barbara G Welch Supporting Organization 245 Main Street Ellsworth ME 04605 270676659 Support MCF through grant making activities ME 501(c)(3) Line 12a, I Maine Community Foundation 0 Maine Community Supporting Foundation 245 Main Street Ellsworth ME 04605 010517228 Support MCF by receiving real estate and other unique charitable gifts ME 501(c)(3) Line 12a, I Maine Community Foundation 0 Andrew Marshall Charitable Remainder Unitrust C/O Vanguard National Trust PO Box Valley Forge PA 194820709 Charitable Remainder Trust ME N/A T 0 David K Silverman Charitable Remainder Unitrust C/O Bank of America PO Box 830269 Dallas TX 75283 Charitable Remainder Trust ME N/A T 0 Mary S Marshal Charitable Remainder Unitrust C/O Vanguard National Trust PO Box Valley Forge PA 194820709 Charitable Remainder Trust ME N/A T 0 Rachel Samsel Charitable Remainder Unitrust C/O Vanguard National Trust PO Box Valley Forge PA 194820709 Charitable Remainder Trust ME N/A T 0 Richard J McGoldrick Charitable Remainder Annuity Trust 2019 C/O Spinnaker Trust 123 Free Street Portland ME 04101 Charitable Remainder Trust ME N/A T 0 Roger A Fessaguet 2013 Charitable Remainder Trust No 1 C/O Law Offices of JJ Lynch PO Box Damariscotta ME 04543 Charitable Remainder Trust ME N/A T 0 Roger A Fessaguet 2013 Charitable Remainder Trust No 2 C/O Law Offices of JJ Lynch PO Box Damariscotta ME 04543 Charitable Remainder Trust ME N/A T 0 Sedgwick Charitable Remainder Trust C/O Multop Financial 2210 Rimland D Bellingham WA 98226 Charitable Remainder Trust ME N/A T 0 Stanley N Marshall III Charitable Remainder Unitrust C/O Vanguard National Trust PO Box Valley Forge PA 194820709 Charitable Remainder Trust ME N/A T 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0