Maine Central Institute
- Assets
- $27.6m
- Revenue
- $10.7m
- Investments
- $0.0
- Employees
- 131
- Location
- Pittsfield, ME
- Founding
- 12/1972
- Data as of
- 06/2021
- EIN
- 01-0212438
Organization Overview
Maine Central Institute is located in Pittsfield, ME. The organization was established in 1972. According to its NTEE Classification (B25) the organization is classified as: Secondary & High Schools, under the broad grouping of Education and related organizations. As of 06/2021, Maine Central Institute employed 131 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Maine Central Institute 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 06/2021, Maine Central Institute generated $10.7m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (2.9%) each year. All expenses for the organization totaled $9.8m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (1.8%) per year over the past 6 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
SECONDARY SCHOOL EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MAINE CENTRAL INSTITUTE OFFERS HIGH SCHOOL AND POSTGRADUATE PROGRAMS IN PITTSFIELD, MAINE TO MAINE SCHOOL ADMINISTRATIVE DISTRICT #53 (SAD #53), STUDENTS ATTENDING FROM TOWNS WITH SCHOOL CHOICE, STUDENTS TRANSFERRING FROM OTHER DISTRICTS AND BOARDING STUDENTS. EDUCATION AND MEALS PROVIDED FOR APPROXIMATELY 400 STUDENTS; HOUSING IS PROVIDED FOR APPROXIMATELY 73 STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christopher Mcdonald Headmaster | Officer | 40 | $176,498 |
Karla Edney Cfo/director Of Operations | Officer | 40 | $100,366 |
Norbert Young President | OfficerTrustee | 2 | $0 |
Tania Carnrick Vice President | OfficerTrustee | 1 | $0 |
Dan Tilton Treasurer | OfficerTrustee | 1 | $0 |
Daniel Welch Business Manager | Officer | 40 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Abm Mechancial Mechanical Services | 6/29/21 | $141,065 |
Cunningham Security Systems Security System | 6/29/21 | $100,100 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $931,250 |
| All other contributions, gifts, grants, and similar amounts not included above | $515,573 |
| Noncash contributions included in lines 1a–1f | $6,210 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,446,823 |
| Total Program Service Revenue | $8,195,425 |
| Investment income | $408,464 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $642,567 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,693,279 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,641,870 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $326,807 |
| Compensation of current officers, directors, key employees. | $239,166 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,277,475 |
| Pension plan accruals and contributions | $85,670 |
| Other employee benefits | $319,911 |
| Payroll taxes | $312,527 |
| Fees for services: Management | $99,059 |
| Fees for services: Legal | $4,681 |
| Fees for services: Accounting | $52,518 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $39,035 |
| Fees for services: Other | $78,032 |
| Advertising and promotion | $14,147 |
| Office expenses | $143,989 |
| Information technology | $17,310 |
| Royalties | $0 |
| Occupancy | $855,539 |
| Travel | $24,267 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,722 |
| Interest | $92,355 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $540,065 |
| Insurance | $130,026 |
| All other expenses | $0 |
| Total functional expenses | $9,794,275 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,802,742 |
| Savings and temporary cash investments | $2,521,871 |
| Pledges and grants receivable | $882,840 |
| Accounts receivable, net | $27,496 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $27,088 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $8,703,512 |
| Investments—publicly traded securities | $10,990,887 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $41,250 |
| Other assets | $2,594,559 |
| Total assets | $27,592,245 |
| Accounts payable and accrued expenses | $796,909 |
| Grants payable | $0 |
| Deferred revenue | $88,380 |
| Tax-exempt bond liabilities | $2,995,774 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $152,656 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $654,319 |
| Total liabilities | $4,688,038 |
| Net assets without donor restrictions | $15,393,313 |
| Net assets with donor restrictions | $7,510,894 |
| 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 | $27,592,245 |
Grants Recieved
Over the last fiscal year, we have identified 10 grants that Maine Central Institute has recieved totaling $150,727.
| Awarding Organization | Amount |
|---|---|
Savage Family Foundation Needham, MA PURPOSE: GENERAL CHARITABLE | $50,000 |
Albert L & Olive D Partridge Doners Decl Trust Ddt 10-20-59 Dallas, TX PURPOSE: UNRESTRICTED GENERAL | $37,363 |
John W Manson Trust Key Trust Co Trustee Brooklyn, OH PURPOSE: GENERAL OPERATING | $21,253 |
The Masonic Charitable Foundation Of The Grand Lodge Of Maine Holden, ME PURPOSE: EDUCATION FACILITIES | $20,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $10,000 |
Cianbro Charitable Foundation Pittsfield, ME PURPOSE: EDUCATION | $6,000 |
Endowment Analysis
| Beg. Balance | $8,788,321 |
| Ending Balance | $8,788,321 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Derryfield School Manchester, NH | $44,949,554 | $20,323,202 |
Tilton School Tilton, NH | $51,782,047 | $28,426,192 |
Gould Academy Bethel, ME | $51,802,466 | $16,747,864 |
Kents Hill School Kents Hill, ME | $53,732,644 | $12,333,982 |
The Trustees Of Fryeburg Academy Fryeburg, ME | $79,323,577 | $20,722,502 |
Coe-Brown Northwood Academy Northwood, NH | $14,207,279 | $13,826,653 |
North Yarmouth Academy Yarmouth, ME | $20,098,579 | $17,214,127 |
Dublin School Inc Dublin, NH | $31,365,781 | $17,498,470 |
Lincoln Academy New Castle, ME | $30,176,614 | $16,577,404 |
The White Mountain School Bethlehem, NH | $18,684,439 | $10,223,577 |
Maine Central Institute Pittsfield, ME | $27,592,245 | $10,693,279 |
Hyde School Bath, ME | $46,617,199 | $8,609,134 |