Northern Maine Community College Foundation
- Assets
- $4.2m
- Revenue
- $599.0k
- Investments
- $3.4m
- Employees
- 0
- Location
- Presque Isle, ME
- Founding
- 05/1988
- Data as of
- 06/2022
- EIN
- 01-0416939
Organization Overview
Northern Maine Community College Foundation is located in Presque Isle, ME. The organization was established in 1988. 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. Northern 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 06/2022, Northern Maine Community College Foundation generated $599.0k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.6% each year . All expenses for the organization totaled $1.4m during the year ending 06/2022. While expenses have increased by 20.1% 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
THE MISSION OF THE FOUNDATION IS TO HELP NORTHERN MAINE COMMUNITY COLLEGE MEET ITS COMMITMENT TO PROVIDE SUPERIOR EDUCATIONAL OPPORTUNITIES FOR ALL SEGMENTS OF THE COMMUNITY. FOUNDATION BOARD MEMBERS WILL ENHANCE COMMUNITY, ALUMNI AND STUDENT AWARENESS OF THE COLLEGE BY SERVING AS ADVOCATES IN BOTH THE PUBLIC AND PRIVATE SECTORS. FOUNDATION BOARD MEMBERS WILL SECURE CONTRIBUTIONS, PLANNED GIFTS AND DONATIONS; WILL SUPPORT SPECIAL PROJECTS; AND WILL EXERCISE PRUDENT JUDGMENT IN ACCOUNTING FOR, MANAGING AND APPRECIATING MONIES OR PROPERTIES ACQUIRED BY THE FOUNDATION. THE LEADERSHIP OF THE COLLEGE WILL GUIDE FOUNDATION BOARD MEMBERS BY COMMUNICATING PRIORITIES FOR THE DISTRIBUTION OF FUNDS FOR STUDENT SCHOLARSHIPS, INCENTIVE GRANTS, FACULTY AND STAFF PROFESSIONAL DEVELOPMENT AND EDUCATIONAL EQUIPMENT OR FACILITIES. IT IS THE RESPONSIBILITY OF THE FOUNDATION BOARD MEMBERS TO SUPPORT AND FOSTER THE HIGH QUALITY OF THOSE STANDARDS WHICH ARE THE GOAL OF NORTHERN MAINE COMMUNITY COLLEGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS AND GRANTS PAID
GRANTS PAID TO NMCC
EXPENSES INCURRED IN THE ACCOMPLISHMENT OF FIRST AND SECOND ACHIEVEMENTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Timothy Crowley President Nm | OfficerTrustee | 40 | $0 |
Ryan Bushey Chair | OfficerTrustee | 1 | $0 |
Michael Williams Treasurer | OfficerTrustee | 40 | $0 |
Richard Engels Secretary | OfficerTrustee | 1 | $0 |
Mark Bouchard Director | Trustee | 1 | $0 |
Gina Leblanc-Eggert Vice Chair | Trustee | 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 | $516,267 |
| Noncash contributions included in lines 1a–1f | $34,445 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $516,267 |
| Total Program Service Revenue | $0 |
| Investment income | $80,062 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $2,700 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $599,029 |
| 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. | $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 | $3,950 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $34,445 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| 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 | $0 |
| All other expenses | $4,366 |
| Total functional expenses | $1,429,073 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $48,172 |
| Savings and temporary cash investments | $732,119 |
| Pledges and grants receivable | $3,754 |
| 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 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $3,425,621 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,209,666 |
| Accounts payable and accrued expenses | $41,942 |
| Grants payable | $0 |
| Deferred revenue | $2,050 |
| 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 | $43,992 |
| Net assets without donor restrictions | $210,371 |
| Net assets with donor restrictions | $3,955,303 |
| 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 | $4,209,666 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Northern Maine Community College Foundation has recieved totaling $7,500.
| Awarding Organization | Amount |
|---|---|
Worthington Scholarship Foundation Naples, FL PURPOSE: SCHOLARSHIPS - E BITAR, I CRONE, C HARVEY | $7,500 |
Endowment Analysis
| Beg. Balance | $3,917,791 |
| Earnings | -$474,790 |
| Admin Expense | -$15,455 |
| Net Contributions | $107,676 |
| Other Expense | -$1,925 |
| Grants | -$107,676 |
| Ending Balance | $3,425,621 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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 |
Friends Of Portland Adult Education Portland, ME | $462,146 | $328,136 |