Maine Central Institute

EIN: 010212438 501(c)(3) Education

Pittsfield, ME

Total Revenue
$9,616,649
Total Expenses
$10,251,140
Total Assets
$30,456,955
Net Assets
$25,294,538
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Tuckman-Chang Vulnerability Assessment

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Financial Trends

Organization Details

Formation Year
1866
Legal Domicile
ME
Principal Officer
David Pearson
Phone
2074874454
Tax Period
2024-07-01 to 2025-06-30

Maine Central Institute, founded in 1866, is a mid-sized nonprofit in the Education sector that reported $10.1M in total revenue in fiscal year 2017. Revenue decreased 18% compared to the prior year. Net assets of $20.7M represent 24 months of operating reserves.

Mission

Secondary school education.

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Trantor Score

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

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $931,911
Program Service Revenue $8,279,111
Investment Income $405,627
Other Revenue $0
TOTAL REVENUE $9,616,649

Expense Breakdown

Grants Paid $870,838
Salaries & Benefits $5,083,366
Fundraising Expenses $342,101
Program Expenses $6,724,317
Other Expenses $4,296,936
TOTAL EXPENSES $10,251,140

Year-over-Year Comparison

2024 2023 Change
Revenue $9,616,649 $11,984,432 -0.2%
Expenses $10,251,140 $11,419,757 -0.1%
Net Income $-634,491 $564,675 -2.1%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
23
Independent Members
23
Employees
158
Volunteers
100

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
4
$289,932
Total Directors
25
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Michael Dow Board President 5.00
Officer Director
$0 $0 $0
Kyle Holmstrom Treasurer 1.00
Officer Director
$0 $0 $0
Timothy Archibald Trustee 1.00
Director
$0 $0 $0
Robert Bryant Trustee 1.00
Director
$0 $0 $0
Corey Dionne Trustee 1.00
Director
$0 $0 $0
Allen Dyer Trustee 1.00
Director
$0 $0 $0
Lewis Fitts III Trustee 1.00
Director
$0 $0 $0
Natalia Hall Trustee 1.00
Director
$0 $0 $0
Mitchell Hallee Trustee 1.00
Director
$0 $0 $0
Kristy Hapworth Trustee 1.00
Director
$0 $0 $0
Frank Haseltine Trustee 1.00
Director
$0 $0 $0
Charles Jaffers Trustee 1.00
Director
$0 $0 $0
Peg Peat Trustee 1.00
Director
$0 $0 $0
Paul Pietranico Trustee 1.00
Director
$0 $0 $0
Debra Pronovost Trustee 1.00
Director
$0 $0 $0
Elizabeth Ross Trustee 1.00
Director
$0 $0 $0
Deborah Rozeboom Trustee 1.00
Director
$0 $0 $0
Matthew Stein Trustee 1.00
Director
$0 $0 $0
Dan Tilton Trustee 1.00
Director
$0 $0 $0
Eric Thompson Trustee 1.00
Director
$0 $0 $0
Erik Updyke Trustee 1.00
Director
$0 $0 $0
Craig Weaver Trustee 1.00
Director
$0 $0 $0
Joo Ohk Yi Trustee 1.00
Director
$0 $0 $0
Margaret Peat Past Trustee 1.00
Director
$0 $0 $0
Aaron Rosen Past Trustee 1.00
Director
$0 $0 $0
David Pearson Head of School 40.00
Officer
$218,417 $59,186 $277,603
Jerilyn Underhill Chief Financial Officer 40.00
Officer
$12,329 $0 $12,329
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 $9,616,649 $10,251,140 $30,456,955 $-634,491
2024 No data No data No data No data
2023 $14,107,482 $11,080,993 $27,313,644 $3,026,489
2022 $11,684,764 $10,054,000 $28,801,582 $1,630,764
2021 $10,693,279 $9,794,275 $27,592,245 $899,004
2020 $8,938,297 $9,298,819 $25,292,037 $-360,522
2019 $9,398,686 $9,815,393 $24,965,716 $-416,707
2018 $10,144,135 $10,476,692 $25,909,953 $-332,557
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