Maine Central Institute

EIN: 010212438 501(c)(3)

Pittsfield, ME

Total Revenue
$14,107,482
Total Expenses
$11,080,993
Total Assets
$27,313,644
Net Assets
$22,450,343
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Financial Trends

Organization Details

Formation Year
1866
Legal Domicile
ME
Principal Officer
David Pearson
Phone
2074874454
Tax Period
2022-07-01 to 2023-06-30

Maine Central Institute is a 501(c)(3) with EIN 010212438, based in Pittsfield, ME. Founded in 1866, the organization files IRS Form 990 and reported its most recent data for fiscal year 2022. In that period, it reported $14,107,482 in total revenue and $11,080,993 in total expenses, with net assets of $22,450,343.

Mission

Secondary school education.

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

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Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $4,864,210
Program Service Revenue $9,228,801
Investment Income $14,471
Other Revenue $0
TOTAL REVENUE $14,107,482

Expense Breakdown

Grants Paid $2,241,323
Salaries & Benefits $5,299,754
Fundraising Expenses $245,388
Program Expenses $6,721,015
Other Expenses $3,539,916
TOTAL EXPENSES $11,080,993

Year-over-Year Comparison

2022 2021 Change
Revenue $14,107,482 $11,684,764 +0.2%
Expenses $11,080,993 $10,054,000 +0.1%
Net Income $3,026,489 $1,630,764 +0.9%
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
26
Independent Members
26
Employees
157
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
7
$311,475
Total Directors
28
$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
Allen Dyer Trustee 1.00
Director
$0 $0 $0
Jethro Ferguson 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
Gregg Newhouse Trustee 1.00
Director
$0 $0 $0
Peg Olson Trustee 1.00
Director
$0 $0 $0
Charmaine Patel 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
Aaron Rosen 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
Tina Tang 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
Norbert Young Trustee/Past President 5.00
Officer Director
$0 $0 $0
Tania Carnrick Past Vice President 1.00
Officer Director
$0 $0 $0
Jason Cummings Past Trustee 1.00
Director
$0 $0 $0
Daniel Welch Chief Financial Officer 40.00
Officer
$93,049 $10,461 $103,510
Winn Price Past Head of School 40.00
Officer
$85,000 $0 $85,000
David Pearson Head of School 40.00
Officer
$91,000 $31,965 $122,965
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
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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