Eastern Maine Community College Foundation
- Assets
- $1.9m
- Revenue
- $251.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Bangor, ME
- Founding
- 04/1994
- Data as of
- 06/2021
- EIN
- 01-0385303
Organization Overview
Eastern Maine Community College Foundation is located in Bangor, ME. The organization was established in 1994. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Eastern Maine Community College Foundation 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, Eastern Maine Community College Foundation generated $251.9k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.9% each year. All expenses for the organization totaled $128.8k during the year ending 06/2021. 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
TO MOBILIZE, ENGAGE AND NURTURE BROAD INVESTMENT FROM OUR DIVERSE COMMUNITY TO ENHANCE THE PROGRAMS, EQUIPMENT AND FACILITIES OF EASTERN MAINE COMMUNITY COLLEGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS HELPED 174 STUDENTS PURSUE DEGREES AT EASTERN MAINE COMMUNITY COLLEGE.
GENERAL ASSISTANCE TO SUPPORT COLLEGE PROGRAMS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kerrie Tripp Chair | OfficerTrustee | 0.6 | $0 |
Mymy Ngyen Treasurer | OfficerTrustee | 0.6 | $0 |
Erica Whitten Vice Chair | OfficerTrustee | 0.6 | $0 |
Lisa Larson Emcc President | OfficerTrustee | 0.6 | $0 |
John Tilton Director | Trustee | 0.6 | $0 |
Edward Marsh Director | Trustee | 0.6 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $109,111 |
| Investment income | $35,370 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $107,403 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $251,884 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $85,075 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $11,293 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $13,151 |
| Fees for services: Other | $628 |
| Advertising and promotion | $0 |
| Office expenses | $246 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,126 |
| All other expenses | $0 |
| Total functional expenses | $128,814 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $119,811 |
| 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 |
| Investments—publicly traded securities | $1,761,943 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,881,754 |
| Accounts payable and accrued expenses | $12 |
| Grants payable | $105,347 |
| 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 | $105,359 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $1,776,395 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Eastern Maine Community College Foundation has recieved totaling $103,386.
| Awarding Organization | Amount |
|---|---|
Worthington Scholarship Foundation Naples, FL PURPOSE: SCHOLARSHIPS - J AGUIRRE, Z ARMSTRONG-HOPKINS, O BARTER, B BATCHELDER, C BEATTIE, A BLAND, A BOULEY, H BROWN, O BUNKER, R CANONOY, E CARTER, L CARTER, B CHASSE, L CHRISTIANSEN,G DEBECK, J DOW, A DRISKEL, D FOSTER, R FRASER, J FUCHS, L GOUGHNOUR, M GRAY, C GRIERSON, J HANSON, A HIGGINS, G HOOPER, E HUBBARD, A KELLEY, A LUPO, A MERITHEW, K MERRILL, R MICKLICH, D MOON, A MOORE, D NABARRETE, C NEILL, K PAUL, J PETROS, M POMEROY, H PRICKETT, S RICHESON, , N ROBINSON, A SCHINER, A SECORD, P SEELEY, D SHARPER, E SKINNER, N SPROUL, E SYMONDS, T TURNER, J VIANI, C WARD, K WELTS, M WILSON, M WOODWARD, C WRIGHT | $102,186 |
William Searls Scholarship Foundation Damariscotta, ME PURPOSE: SCHOLARSHIP | $1,200 |
Endowment Analysis
| Beg. Balance | $1,439,556 |
| Earnings | $367,324 |
| Admin Expense | $13,151 |
| Net Contributions | $33,397 |
| Grants | $65,182 |
| Ending Balance | $1,761,944 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Of New Hampshire Foundation Incorporated Durham, NH | $251,217,834 | $34,299,189 |
University Of Maine Foundation Orono, ME | $392,570,813 | $22,127,345 |
Maine Center Ventures Orono, ME | $2,948,482 | $3,531,786 |
Northern Maine Community College Foundation Presque Isle, ME | $4,209,666 | $599,029 |
Wells Public Library Foundation Inc Wells, ME | $16,968 | $76,245 |
University Of Maine School Of Law Foundation Portland, ME | $6,829,939 | $929,272 |
Founders Academy Foundation Manchester, NH | $5,624,673 | $768,570 |
Southern Maine Community College Foundation South Portland, ME | $3,768,050 | $1,245,786 |
Camden Public Library Fund Camden, ME | $1,679,359 | $603,187 |
Friends Of The Weeks Public Library Greenland, NH | $101,158 | $27,678 |
Kennebec Valley Community College Foundation Fairfield, ME | $5,554,302 | $699,650 |
Concord Christain Academy Giving & Going Alliance Concord, NH | $291,148 | $254,410 |