Le Club Calumet Educational & Literary Foundation
- Assets
- $3.1m
- Revenue
- $693.2k
- Investments
- $3.0m
- Employees
- 0
- Location
- Augusta, ME
- Founding
- 03/1967
- Data as of
- 12/2021
- EIN
- 01-6023503
Organization Overview
Le Club Calumet Educational & Literary Foundation, operating under the name Calumet Education Foundation, is located in Augusta, ME. The organization was established in 1967. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, 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. Calumet Education 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 12/2021, Calumet Education Foundation generated $693.2k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 18.8% each year . All expenses for the organization totaled $214.9k during the year ending 12/2021. While expenses have increased by 26.0% per year over the past 6 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.
Since 2017, Calumet Education Foundation has awarded 105 individual grants totaling $397,450. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS AND SCHOLARSHIPS AWARDED TO DESERVING INDIVDUALS TO FURTHER THEIR EDUCATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Debbie Tondreau Secretary | 2 | $0 | |
Nicolas Patenaude Treasurer | 2 | $0 | |
Katherine Boucher President | 2 | $0 | |
Jeff Rancourt Grants Officer | 1 | $0 | |
Michael Mckenney 2nd Vice President | 1 | $0 | |
Patrick Paradis 1st Vice President | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $507,899 |
| Interest on Savings | $0 |
| Dividends & Interest | $88,024 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $97,295 |
| Capital Gain Net Income | $97,295 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $693,218 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $90 |
| Other expenses | $1,238 |
| Total operating and administrative expenses | $18,648 |
| Contributions, gifts, grants paid | $196,300 |
| Total expenses and disbursements | $214,948 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4 |
| Savings and temporary cash investments | $138,064 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $3,128,442 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $40,900 |
| Total liabilities | $40,900 |
Grants Awarded
Over the last fiscal year, Le Club Calumet Educational & Literary Foundation has awarded $196,300 in support to 38 organizations.
| Grant Recipient | Amount |
|---|---|
ABIGAIL PELLETIER UNIVERSITY OF MAINE FARMINGTON PURPOSE: EDUCATIONAL SCHOLARSHIP | $20,000 |
ERIN RICHARDSON GORDON COLLEGE PURPOSE: EDUCATIONAL SCHOLARSHIP | $20,000 |
ANDREW GOODALL SAINT JOSEPH'S COLLEGE PURPOSE: EDUCATIONAL SCHOLARSHIP | $20,000 |
OLIVIA TAMBORINI ROCHESTER INSTITUTE OF TECHNOLOGY PURPOSE: EDUCATIONAL SCHOLARSHIP | $20,000 |
EMILY DOUGLAS HUSSON UNIVERSITY PURPOSE: EDUCATIONAL SCHOLARSHIP | $7,800 |
OLIVIA HALLEE SCAD PURPOSE: EDUCATIONAL SCHOLARSHIP | $5,150 |
Endowment Analysis
| Beg. Balance | $1,024,197 |
| Earnings | $36,777 |
| Net Contributions | $659,492 |
| Grants | $29,900 |
| Ending Balance | $1,690,566 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
N H Higher Education Loan Corporation Concord, NH | $928,313,847 | $60,034,018 |
Alfond Scholarship Foundation Portland, ME | $2,013,971 | $7,474,819 |
Island Institute Rockland, ME | $34,942,404 | $7,827,911 |
Senator George J Mitchell Scholarship Research Institute Portland, ME | $52,911,391 | $4,164,591 |
Dartmouth Educational Loan Corp Hanover, NH | $0 | $769,004 |
Maine Huts & Trails Kingfield, ME | $4,908,401 | $661,493 |
Donato J Tramuto Foundation Ogunquit, ME | $1,147,543 | $792,023 |
Lakes Region Scholarship Foundation Gilford, NH | $13,202,377 | $2,617,531 |
Harambe Endeavor Alliance Concord, NH | $2,789,573 | $314,506 |
Robert B Bunker Medical School Scholarship Trust Laconia, NH | $10,035,402 | $504,867 |
The Sukeforth Family Foundation South China, ME | $12,098,841 | $1,239,260 |
Service Credit Union Impact Foundation Portsmouth, NH | $153,778 | $370,899 |