Northern New England Center For Financial Training
- Assets
- $384.0k
- Revenue
- $502.3k
- Investments
- $0.0
- Employees
- 3
- Location
- Springvale, ME
- Founding
- 09/1997
- Data as of
- 06/2022
- EIN
- 01-0511583
Organization Overview
Northern New England Center For Financial Training is located in Springvale, ME. The organization was established in 1997. According to its NTEE Classification (B60) the organization is classified as: Adult Education, under the broad grouping of Education and related organizations. As of 06/2022, Northern New England Center For Financial Training employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Northern New England Center For Financial Training 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 06/2022, Northern New England Center For Financial Training generated $502.3k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.8%) each year. All expenses for the organization totaled $425.1k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (4.7%) per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
WE STRIVE TO EMPOWER STUDENTS TO ACHIEVE THEIR GOALS, SUPPOT ORGANIZATIONS TO REALIZE SUCCESS AND STRENGHEN COMMUNITIES TO CREATE POSITIVE CHANGE BY DELIVERING SPECIALIZED, RELEVANT AND AFFORDABLE EDUCATIONAL PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATIONAL PROGRAMS DEVELOPED AND PROVIDED TO GIVE BANK EMPLOYEES INDUSTRY SPECIFIC BACKGROUND, KNOWLEDGE AND EDUCATION ABOUT THE FINANCIAL SERVICES INDUSTRY AS WELL AS A GENERAL BUSINESS KNOWLEDGE REQUIRED TO PARTICIPATE IN AND COMPETE IN THE CAREERS. EXPENSES INCLUDED TEXTBOOKS AND OTHER MATERIALS, INSTRUCTOR SALARIES, FACILITIES, MEALS AND MISCELLANEOUS EXPENSES.
GUIDED LEARNING CORRESPONDENCE COURSES DEVELOPED AND PROVIDED TO GIVE BANK EMPLOYEES INDUSTRY SPECIFIC BACKGROUND, KNOWLEDGE AND EDUCATION ABOUT THE FINANCIAL SERVICES INDUSTRY AS WELL AS A GENERAL BUSINESS KNOWLEDGE REQUIRED TO PARTICIPATE IN AND COMPETE IN THE CAREERS.
INSTRUCTOR-LED OR SELF-PACED WEB COURSES DEVELOPED AND PROVIDED TO GIVE BANK EMPLOYEES INDUSTRY SPECIFIC BACKGROUND, KNOWLEDGE AND EDUCATION ABOUT THE FINANCIAL SERVICES INDUSTRY AS WELL AS A GENERAL BUSINESS KNOWLEDGE REQUIRED TO PARTICIPATE IN AND COMPETE IN THE CAREERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andrew Lederer Executive Director | Officer | 45 | $72,918 |
Brea Hatch Director | OfficerTrustee | 1 | $0 |
Lisa Engel Vice President | OfficerTrustee | 2 | $0 |
Judith Folsom Director | OfficerTrustee | 1 | $0 |
Arielle Darling Director | OfficerTrustee | 1 | $0 |
Pete Joslin Director | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $483,941 |
| Investment income | $87 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $502,348 |
| 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. | $84,964 |
| Compensation of current officers, directors, key employees. | $84,964 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $82,020 |
| Pension plan accruals and contributions | $2,559 |
| Other employee benefits | $7,663 |
| Payroll taxes | $9,364 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,220 |
| Fees for services: Accounting | $2,090 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,995 |
| Office expenses | $13,141 |
| Information technology | $16,091 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $476 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,026 |
| Interest | $33 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,889 |
| Insurance | $3,809 |
| All other expenses | $200 |
| Total functional expenses | $425,076 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $341,360 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $14,908 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $25,700 |
| Prepaid expenses and deferred charges | $1,990 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $383,958 |
| Accounts payable and accrued expenses | $5,899 |
| 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 | $150,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $155,899 |
| Net assets without donor restrictions | $228,059 |
| 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 | $383,958 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Northern New England Center For Financial Training has recieved totaling $74.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $74 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Nashua Adult Learning Center Inc Nashua, NH | $5,002,850 | $5,676,963 |
New Hampshire Assoc Of Special Education Administrators Inc Concord, NH | $597,509 | $614,462 |
Axiom Education & Training Center Machias, ME | $38,090 | $461,922 |
Northern New England Center For Financial Training Springvale, ME | $383,958 | $502,348 |
Womens Rural Entrepreneurial Network Bethlehem, NH | $244,430 | $329,541 |
Association Of Computer Technology Educators Of Maine Gorham, ME | $431,468 | $232,156 |
Monadnock Art X Tech Peterborough, NH | $88,260 | $264,707 |
Curran Homestead Orrington, ME | $2,707,987 | $129,060 |
Midcoast Literacy Bath, ME | $113,334 | $0 |
College Guild Brunswick, ME | $415,805 | $0 |
Taproot Farm & Environmental Education Center Lancaster, NH | $259,954 | $211,869 |
Midcoast Senior College Brunswick, ME | $284,453 | $0 |