Mainspring Schools
- Assets
- $2.4m
- Revenue
- $2.7m
- Investments
- $0.0
- Employees
- 60
- Location
- Austin, TX
- Founding
- 12/1950
- Data as of
- 08/2023
- EIN
- 74-1143055
Organization Overview
Mainspring Schools is located in Austin, TX. The organization was established in 1950. 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, Mainspring Schools employed 60 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mainspring Schools 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, Mainspring Schools generated $2.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 9.1% each year. All expenses for the organization totaled $2.5m during the year ending 08/2023. While expenses have increased by 9.9% 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
PROVIDE CHILD CARE SERVICES TO LOW INCOME FAMILIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MAINSPRING SCHOOLS PROVIDES CHILD CARE SERVICES TO CHILDREN FROM LOW INCOME FAMILIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tim Weston Chairman | OfficerTrustee | 2 | $0 |
Suba Vasudevan Board Member | Trustee | 2 | $0 |
Bill Pryor Board Member | Trustee | 2 | $0 |
Caroline Page Board Member | Trustee | 2 | $0 |
Marcella Maxwell Board Member | Trustee | 2 | $0 |
Ruben Martinez Board Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,148,055 |
| All other contributions, gifts, grants, and similar amounts not included above | $231,106 |
| Noncash contributions included in lines 1a–1f | $24,023 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,379,161 |
| Total Program Service Revenue | $1,254,651 |
| Investment income | $50,138 |
| 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 | $2,683,950 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $8,137 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $193,833 |
| Compensation of current officers, directors, key employees. | $32,058 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,455,774 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $144,893 |
| Payroll taxes | $122,186 |
| Fees for services: Management | $4,773 |
| Fees for services: Legal | $83,878 |
| Fees for services: Accounting | $14,350 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $18,438 |
| Office expenses | $43,104 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $98,446 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,412 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $46,258 |
| Insurance | $8,697 |
| All other expenses | $2,529 |
| Total functional expenses | $2,505,282 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $120,553 |
| Savings and temporary cash investments | $95,342 |
| Pledges and grants receivable | $199,207 |
| Accounts receivable, net | $103,294 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,220 |
| Prepaid expenses and deferred charges | $15,999 |
| Net Land, buildings, and equipment | $239,324 |
| Investments—publicly traded securities | $1,618,982 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $22,600 |
| Total assets | $2,417,521 |
| Accounts payable and accrued expenses | $204,895 |
| Grants payable | $0 |
| Deferred revenue | $1,395 |
| 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 | $206,290 |
| Net assets without donor restrictions | $2,143,459 |
| Net assets with donor restrictions | $67,772 |
| 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 | $2,417,521 |