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.
Executive compensation
Form 990 · Part VII & Schedule J · 1 reported individual · Filing year 2024
Percentile bands compare each position's total pay with the same role at Public & Societal Benefit organizations nationwide.
| Position | Total |
|---|---|
Executive Director 25th percentile to median | $96k $104k |
Teal figures restate each filed amount in 2026 dollars.
Estimated with BLS CPI-U for the Northeast region, restating filed pay into May 2026 dollars. A restatement of past pay, not current or projected pay.
Plus 14 unpaid individuals.
Top pay as a share of expenses
In 2024, the highest total compensation at SOMERSET ECONOMIC DEVELOPMENT CORPORATION equaled 18% of the organization's total expenses. The median for public & societal benefit organizations is 10%.
Based on 2,608 public & societal benefit organizations, each measured at its most recent filing year with reported expenses and compensation.
Up 6%
from 2023
From $91k in 2023 to $96k in 2024.
Estimated with BLS CPI-U for the Northeast region, restating filed pay into May 2026 dollars. A restatement of past pay, not current or projected pay.
Chief Executive Officer pay rose 6% from 2023 to 2024, while revenue fell 20%.
Pay for the position itself, not any one person. The officeholder may have changed between 2023 and 2024.
Revenue and expenses over time
SOMERSET ECONOMIC DEVELOPMENT CORPORATION reported revenue and expenses across 2 filing years.
What Public & Societal Benefit executives earn
Comparable public & societal benefit organizations nationwide pay their highest-earning executive a median of $83,690.
These are public & societal benefit sector-wide figures, not this organization's reported pay. Based on 2,612 organizations across 2,612 filings (2021 – 2024).
See full Public & Societal Benefit compensation data →Similar Organizations
Portland, ME
Brunswick, ME
Common questions about SOMERSET ECONOMIC DEVELOPMENT CORPORATION
What does the Chief Executive Officer of SOMERSET ECONOMIC DEVELOPMENT CORPORATION earn?
In 2024, the Chief Executive Officer of SOMERSET ECONOMIC DEVELOPMENT CORPORATION received $95,865 in total compensation. This pay is below the median (the midpoint) for Chief Executive Officer roles among Public & Societal Benefit organizations nationwide, but above the bottom quarter of comparable filings. Based on IRS Form 990 data.
How does Chief Executive Officer pay at SOMERSET ECONOMIC DEVELOPMENT CORPORATION compare with similar nonprofits?
Compared with the same role at Public & Societal Benefit organizations nationwide, the 2024 pay of the Chief Executive Officer at SOMERSET ECONOMIC DEVELOPMENT CORPORATION falls between the 25th percentile and the median. In 2024, the highest total compensation at SOMERSET ECONOMIC DEVELOPMENT CORPORATION equaled 18% of the organization's total expenses. The median for public & societal benefit organizations is 10%.
What are SOMERSET ECONOMIC DEVELOPMENT CORPORATION's revenue and expenses?
In 2024, SOMERSET ECONOMIC DEVELOPMENT CORPORATION reported $440k in total revenue and $530k in total expenses on its IRS Form 990.
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