Bangor Childrens Home
- Assets
- $1.9m
- Revenue
- $922.6k
- Investments
- $0.0
- Employees
- 42
- Location
- Bangor, ME
- Founding
- 08/1942
- Data as of
- 08/2023
- EIN
- 01-0211481
Organization Overview
Bangor Childrens Home is located in Bangor, ME. The organization was established in 1942. According to its NTEE Classification (B21) the organization is classified as: Preschools, under the broad grouping of Education and related organizations. As of 08/2023, Bangor Childrens Home employed 42 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bangor Childrens Home is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 08/2023, Bangor Childrens Home generated $922.6k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.1% each year. All expenses for the organization totaled $971.8k during the year ending 08/2023. While expenses have increased by 5.6% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVISION OF SCHOOL SERVICES
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE PRESCHOOL, ELEMENTARY SCHOOL AND DAYCARE SERVICES TO FAMILIES IN THE GREATER BANGOR, MAINE AREA. AVERAGE ENROLLMENT FOR THE YEAR WAS 58 CHILDREN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tracy Garrow Executive Director | Officer | 40 | $68,000 |
Jody Bourassa Member | Trustee | 0.2 | $0 |
Angela Butler Member | Trustee | 0.2 | $0 |
Ali Worster Member | Trustee | 0.2 | $0 |
Elisabeth Maberry Member | Trustee | 0.2 | $0 |
Kate Foley Member | Trustee | 0.2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $14,400 |
| All other contributions, gifts, grants, and similar amounts not included above | $16,331 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $30,731 |
| Total Program Service Revenue | $711,454 |
| Investment income | $43,639 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $136,748 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $922,572 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $68,000 |
| Compensation of current officers, directors, key employees. | $68,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $596,559 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $41,035 |
| Payroll taxes | $51,908 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $185 |
| Fees for services: Accounting | $6,465 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $8,724 |
| Fees for services: Other | $100 |
| Advertising and promotion | $3,601 |
| Office expenses | $2,984 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $124,450 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,124 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $21,261 |
| All other expenses | $0 |
| Total functional expenses | $971,807 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $12,742 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,840,995 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,853,737 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $1,853,737 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,853,737 |