Mission
TO ASSIST COUNTY BUSINESSES AND LOCAL GOVERNMENTS IN ACCESSING ECONOMIC ASSISTANCE, GRANTS AND LOANS FOR JOB GROWTH AND RETENTION. PROMOTE ECNOMIC DEVELOPMENT TO 400 +/- CLIENTS.
Public Charity
SOMERSET ECONOMIC DEVELOPMENT CORPORATION
SOMERSET ECONOMIC DEVELOPMENT CORPORATION is a nonprofit organization categorized as Public Charity based in SKOWHEGAN, ME. Its most recent IRS filing (2024) reports revenue of $440K, expenses of $530K, total assets of $6.1M. Imperigo tracks 5 reported grant relationships connected to this organization totaling approximately $3.2M.
EIN: 010535534
SKOWHEGAN, ME
Government & Public Administration
NTEE: W20
Latest filing: 2024
Total Revenue$440K
Total Expenses$530K
Total Assets$6.1M
Grant Records5
Funding Total$3.2M
Filing Years2019–2024
Where $100 goes at Somerset Economic Development Corporation
How Somerset Economic Development Corporation divides every $100 it spends, from its own Form 990 filings, averaged across 7 years.
$52
Programs
the work itself
$48
Management
running the organization
$0
Fundraising
none reported
No fundraising costs are reported. That often means fundraising runs through a separate affiliated organization that files its own return.
Inside the $52 for programs
$52
To assist county businesses and local governments in accessing economic assistance, grants and loans for job growth and retention
Source: Form 990 filings with the IRS, latest fiscal year 2024. Shares are from the organization's reported expenses. Data by Imperigo; not affiliated with the IRS.
Sample Grants Received
Somerset Forest Recovery Program.
$3,000,000
Economic Development Administration
$13,530
Economic Development
$7,300
Government & Public Administration
$60,000
Unrestricted General Support
$100,000
Showing up to 5 of 5 total records — full history available with membership.
Officers & Directors
EXECUTIVE DIRECTOR
Christian Savage
DIRECTOR
David Dorr
PRESIDENT
Destiny Demo
DIRECTOR
Dick Willett
VICE PRESIDENT
Don Skillings
DIRECTOR
Ernie Hilton
Officer compensation and complete director data available with membership.
Top Grant Purposes
Financial Trends
| Year | Revenue | Expenses | Assets |
|---|---|---|---|
| 2024 | $440K | $530K | $6.1M |
| 2023 | $551K | $557K | $3.2M |
| 2022 | $1.2M | $130K | $3.1M |
| 2020 | $172K | $165K | $1.1M |
| 2019 | $230K | $206K | $1.1M |
Between 2019 and 2024, reported annual revenue grew from $230K to $440K (+91%), with total assets most recently reported at $6.1M.
Interactive year-over-year charts and full filing details available with membership.