Breakwater Learning
- Assets
- $5.3m
- Revenue
- $4.2m
- Investments
- $0.0
- Employees
- 117
- Location
- Portland, ME
- Founding
- 10/1977
- Data as of
- 06/2022
- EIN
- 01-0249577
Organization Overview
Breakwater Learning is located in Portland, ME. The organization was established in 1977. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. As of 06/2022, Breakwater Learning employed 117 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Breakwater Learning 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, Breakwater Learning generated $4.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.1% each year. All expenses for the organization totaled $3.9m during the year ending 06/2022. While expenses have increased by 2.7% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
SCHOOL WITH PROGRAMS FOR TODDLER THROUGH GRADE EIGHT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BREAKWATER LEARNING IS A NOT-FOR-PROFIT LEARNING CENTER THAT RUNS AN INDEPENDENT DAY SCHOOL OFFERING TODDLER, PRESCHOOL, GRADE KINDERGARDEN THROUGH EIGHT, AFTER SCHOOL PROGRAMMING AND SUMMER CAMP OPPORTUNITIES TO THE COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bill Melcher President | OfficerTrustee | 1 | $0 |
Chad Snow Vice President | OfficerTrustee | 1 | $0 |
Whit Ford Treasurer | OfficerTrustee | 1 | $0 |
Erik Calhoun Trustee | Trustee | 1 | $0 |
Meredith Coolidge Trustee | Trustee | 1 | $0 |
Josh Edwards Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $171,558 |
| All other contributions, gifts, grants, and similar amounts not included above | $433,682 |
| Noncash contributions included in lines 1a–1f | $71,672 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $605,240 |
| Total Program Service Revenue | $3,590,490 |
| Investment income | $2,667 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $3,112 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,201,509 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $532,358 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $130,669 |
| Compensation of current officers, directors, key employees. | $130,669 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,938,694 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $235,558 |
| Payroll taxes | $150,574 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $138,770 |
| Advertising and promotion | $18,924 |
| Office expenses | $32,973 |
| Information technology | $17,771 |
| Royalties | $0 |
| Occupancy | $177,628 |
| Travel | $18,571 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $47,003 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $210,904 |
| Insurance | $50,543 |
| All other expenses | $0 |
| Total functional expenses | $3,918,911 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,175,872 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $74,601 |
| 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 | $24,449 |
| Net Land, buildings, and equipment | $2,821,498 |
| Investments—publicly traded securities | $202,768 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $30,029 |
| Other assets | $0 |
| Total assets | $5,329,217 |
| Accounts payable and accrued expenses | $281,867 |
| Grants payable | $0 |
| Deferred revenue | $1,260,772 |
| 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 | $1,611,545 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $3,154,184 |
| Net assets without donor restrictions | $1,703,937 |
| Net assets with donor restrictions | $471,096 |
| 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 | $5,329,217 |