Financial Summary

Maine Humanities Council's financial position has strengthened since 1998, reflecting increased fundraising, the purchase of its Portland headquarters, and, most recently, success in exceeding the first two goals of its four-year National Endowment for the Humanities (NEH) challenge grant. Challenge grant funds (see report on page 3) are being applied to capital expenditures and to the start of a program endowment for the Maine Center for the Book.

During FY 2001, Maine Humanities Council had operating income of $1,506,387 and operating expenses of $1,147,279. The Council has never incurred an operating deficit.

Over the past several years MHC's income has become increasingly diversified. As recently as 1995, 93% of the Council's resources came from the federal government; today, that figure is less than 40%. NEH support has been supplemented by a wide variety of grants from other, mostly private, sources, as well as contributions from a growing base of individual donors. In addition, the Council received more than $297,000 in in-kind contributions of time, mileage and materials in 2001 (not included in this chart).

Seventy-nine percent of the Council's spending supported programs, grants and technical assistance in 2001. These activities are shown on the map on page 4.