GOULD ACADEMY

EIN: 010211509 501(c)(3) Education

BETHEL, ME

Total Revenue
$16,585,515
Total Expenses
$19,854,359
Total Assets
$43,512,055
Net Assets
$37,171,354
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1836
Legal Domicile
ME
Principal Officer
TAO SMITH
Phone
2078247700
Tax Period
2023-07-01 to 2024-06-30

GOULD ACADEMY, founded in 1836, is a mid-sized nonprofit in the Education sector that reported $16.6M in total revenue in fiscal year 2023. Expenses of $19.9M exceeded revenue, resulting in a 20% operating deficit.

Mission

GOULD ACADEMY GUIDES STUDENTS TO BE CREATIVE, COURAGEOUS AND RESILIENT AND TO LEAD LIVES OF FULFILLMENT AND PURPOSE.

Program Service Accomplishments

Program 1
Expenses: $15,593,488 Revenue: $14,520,310

A GOULD EDUCATION IS TRANSFORMATIVE. STUDENTS BUILD MEANINGFUL RELATIONSHIPS IN OUR COMMUNITY, AND LEARN THROUGH A CHALLENGING INTERDISCIPLINARY CURRICULUM. OUR EXTRAORDINARY MOUNTAIN SETTING AND...

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A GOULD EDUCATION IS TRANSFORMATIVE. STUDENTS BUILD MEANINGFUL RELATIONSHIPS IN OUR COMMUNITY, AND LEARN THROUGH A CHALLENGING INTERDISCIPLINARY CURRICULUM. OUR EXTRAORDINARY MOUNTAIN SETTING AND INNOVATIVE EDUCATORS PROVIDE THE ENVIRONMENT, TIME, AND MENTORSHIP FOR YOUNG PEOPLE TO DISCOVER AND FULFILL THEIR POTENTIAL.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $1,158,320
Program Service Revenue $14,520,310
Investment Income $911,839
Other Revenue $-4,954
TOTAL REVENUE $16,585,515

Expense Breakdown

Grants Paid $4,444,119
Salaries & Benefits $9,065,644
Fundraising Expenses $715,816
Program Expenses $15,593,488
Other Expenses $6,344,596
TOTAL EXPENSES $19,854,359

Year-over-Year Comparison

2023 2022 Change
Revenue $16,585,515 $16,397,006 +0.0%
Expenses $19,854,359 $19,749,833 +0.0%
Net Income $-3,268,844 $-3,352,827 0.0%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
17
Independent Members
17
Employees
160
Volunteers
N/A

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
5
$502,471
Total Directors
17
$0
Key Employees
0
$0
Highest Compensated
2
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
SAMUEL W ADAMS PRESIDENT 1.00
Officer Director
$0 $0 $0
PHYLLIS GARDINER VICE PRESIDE 1.00
Officer Director
$0 $0 $0
CHRISTOPHER L BROOKS SECRETARY 1.00
Officer Director
$0 $0 $0
SARAH S TAYMORE MEMBER AT LA 1.00
Director
$0 $0 $0
LEO P MENARD MEMBER AT LA 1.00
Director
$0 $0 $0
JAMES CATLIN MEMBER AT LA 1.00
Director
$0 $0 $0
DONALD M CHRISTIE JR MEMBER AT LA 1.00
Director
$0 $0 $0
RICHARD E FOYSTON MEMBER AT LA 1.00
Director
$0 $0 $0
RICK MELVOIN MEMBER AT LA 1.00
Director
$0 $0 $0
LAURA HUNTER MEMBER AT LA 1.00
Director
$0 $0 $0
KELLY LIEBLEIN MEMBER AT LA 1.00
Director
$0 $0 $0
MAGGIE FURNEAUX MEMBER AT LA 1.00
Director
$0 $0 $0
DESIREE PLATA MEMBER AT LA 1.00
Director
$0 $0 $0
MONIQUE FERGUSON STEWART MEMBER AT LA 1.00
Director
$0 $0 $0
BARBIE ROBINSON MEMBER AT LA 1.00
Director
$0 $0 $0
KENNETH REMSEN MEMBER AT LA 1.00
Director
$0 $0 $0
GREGORY S YOUNG MEMBER AT LA 1.00
Director
$0 $0 $0
TAO SMITH HEAD OF SCHO 50.00
Officer
$266,503 $41,921 $308,424
DAVID F WILLIS JR ASST. H.O.S. 50.00
Officer
$168,882 $25,165 $194,047
BRAD CLARKE ASST. H.O.S. 50.00
Highest
$129,201 $7,609 $136,810
KAREN BURNS ASST. H.O.S. 50.00
Highest
$121,754 $22,410 $144,164
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 No data No data No data No data
2024 $16,585,515 $19,854,359 $43,512,055 $-3,268,844
2023 $16,397,006 $19,749,833 $43,894,371 $-3,352,827
2022 $14,917,371 $17,474,846 $45,203,618 $-2,557,475
2021 $16,747,864 $16,440,327 $51,802,466 $307,537
2020 $15,222,872 $15,086,723 $47,419,250 $136,149
2019 $15,923,503 $16,244,382 $47,770,944 $-320,879
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