Foundation Of The University At Presque Isle
- Assets
- $7.6m
- Revenue
- $188.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Presque Isle, ME
- Founding
- 09/1972
- Data as of
- 06/2021
- EIN
- 23-7211934
Organization Overview
Foundation Of The University At Presque Isle is located in Presque Isle, ME. The organization was established in 1972. According to its NTEE Classification (B43) the organization is classified as: Universities, 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. Foundation Of The University At Presque Isle 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 06/2021, Foundation Of The University At Presque Isle generated $188.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (11.4%) each year. All expenses for the organization totaled $179.1k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (2.9%) 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE SCHOLARSHIP FUNDS FOR STUDENTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING SCHOLARSHIP FUNDS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Martin Puckett President | Officer | $0 | |
Brian Sipe Secretary | Officer | $0 | |
Donald W Cassidy Jr Vise Preside | Officer | $0 | |
Deborah Roark Treasurer | Officer | $0 | |
Brett Varnum Exofficio | Officer | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $57,312 |
| Investment income | $119,897 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $11,463 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $188,672 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $129,329 |
| 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 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 | $3,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $42,633 |
| Fees for services: Other | $0 |
| 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 | $1,145 |
| All other expenses | $0 |
| Total functional expenses | $179,108 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $47,847 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 |
| Investments—publicly traded securities | $7,520,829 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,568,676 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $7,568,676 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Foundation Of The University At Presque Isle has recieved totaling $58,044.
| Awarding Organization | Amount |
|---|---|
Silicon Valley Community Foundation Mountain View, CA PURPOSE: Education | $58,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $44 |
Endowment Analysis
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Trustees Of St Josephs College Standish, ME | $70,736,447 | $58,358,813 |
Rivier University Nashua, NH | $135,744,912 | $55,240,683 |
Foundation Of The University At Presque Isle Presque Isle, ME | $7,568,676 | $188,672 |
Sky Haven Flying Club Inc Dover, NH | $93,814 | $0 |
Trustees Of Dartmouth College Hanover, NH | $123,817 | $0 |
Trustees Of Dartmouth College Hanover, NH | $121,207 | $0 |
York County Community College Foundation Wells, ME | $1,647,536 | $117,673 |
Trustees Of Dartmouth College Hanover, NH | $100,252 | $0 |
Trustees Of Dartmouth College Hanover, NH | $34,064 | $0 |