Maine Central Institute
- Assets
- $28.8m
- Revenue
- $11.7m
- Investments
- $0.0
- Employees
- 127
- Location
- Pittsfield, ME
- Founding
- 12/1972
- Data as of
- 06/2022
- 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 06/2022, Maine Central Institute employed 127 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 06/2022, Maine Central Institute generated $11.7m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.2%) each year. All expenses for the organization totaled $10.1m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (1.2%) 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
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 |
|---|---|---|---|
Norbert Young President | OfficerTrustee | 5 | $0 |
Tania Carnrick Vice President | OfficerTrustee | 5 | $0 |
Kyle Holmstrom Treasurer | OfficerTrustee | 5 | $0 |
Timothy Archibald Trustee | Trustee | 1 | $0 |
Robert Bryant Trustee | Trustee | 1 | $0 |
Robert Cianchette Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cianbro Corporation Construction Services | 6/29/22 | $1,491,817 |
Northcenter Food Service Food Services | 6/29/22 | $239,935 |
Lincoln International Development Corpor Recruitment Services | 6/29/22 | $186,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $374,189 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,663,851 |
| Noncash contributions included in lines 1a–1f | $31,633 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,038,040 |
| Total Program Service Revenue | $9,467,165 |
| Investment income | $71,158 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $108,401 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,684,764 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,596,331 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $265,221 |
| Compensation of current officers, directors, key employees. | $184,838 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,330,179 |
| Pension plan accruals and contributions | $89,496 |
| Other employee benefits | $403,787 |
| Payroll taxes | $322,034 |
| Fees for services: Management | $88,507 |
| Fees for services: Legal | $122,442 |
| Fees for services: Accounting | $37,338 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $34,153 |
| Fees for services: Other | $105,488 |
| Advertising and promotion | $36,979 |
| Office expenses | $378,154 |
| Information technology | $24,212 |
| Royalties | $0 |
| Occupancy | $1,013,409 |
| Travel | $54,855 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,359 |
| Interest | $80,495 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $175,152 |
| All other expenses | $0 |
| Total functional expenses | $10,054,000 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,834,907 |
| Savings and temporary cash investments | $1,935,574 |
| Pledges and grants receivable | $661,823 |
| 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 | $102,596 |
| Net Land, buildings, and equipment | $11,576,867 |
| Investments—publicly traded securities | $10,028,496 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $41,250 |
| Other assets | $2,620,069 |
| Total assets | $28,801,582 |
| Accounts payable and accrued expenses | $1,265,949 |
| Grants payable | $0 |
| Deferred revenue | $88,880 |
| Tax-exempt bond liabilities | $2,900,395 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $101,548 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $14,733 |
| Total liabilities | $4,371,505 |
| Net assets without donor restrictions | $15,883,237 |
| Net assets with donor restrictions | $8,546,840 |
| 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 | $28,801,582 |