TRUSTEES OF MONMOUTH ACADEMY

EIN: 010545125 501(c)(3)

FALMOUTH, ME

Total Revenue
$-12,124
Total Expenses
$94,656
Total Assets
$2,144,411
Net Assets
$2,144,411
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
1803
Legal Domicile
ME
Principal Officer
DAVID WALKER
Phone
2079334252
Tax Period
2024-03-01 to 2025-02-28

TRUSTEES OF MONMOUTH ACADEMY, founded in 1803, is a micro nonprofit that reported $12K in total revenue in fiscal year 2024. Revenue fell 136% from the prior year — a significant decline worth monitoring.

Mission

TO PROVIDE AWARDS AND SCHOLARSHIPS FOR STUDENTS.

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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 (2024)

Revenue Breakdown

Contributions & Grants $8,000
Program Service Revenue $0
Investment Income $-20,124
Other Revenue $0
TOTAL REVENUE $-12,124

Expense Breakdown

Grants Paid $66,965
Salaries & Benefits $500
Fundraising Expenses $0
Program Expenses $66,965
Other Expenses $27,191
TOTAL EXPENSES $94,656

Year-over-Year Comparison

2024 2023 Change
Revenue $-12,124 $33,547 -1.4%
Expenses $94,656 $46,846 +1.0%
Net Income $-106,780 $-13,299 +7.0%
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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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
20
Independent Members
20
Employees
N/A
Volunteers
19

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
$500
Total Directors
20
$500
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DAVID WALKER PRESIDENT 0.20
Officer Director
$0 $0 $0
HUGH LEMASTER VICE PRESIDE 0.10
Officer Director
$0 $0 $0
STEVE PALLESCHI TREASURER 1.00
Officer Director
$500 $0 $500
KRISTIN SANBORN SECRETARY 0.10
Officer Director
$0 $0 $0
LEANNE BURNHAM TRUSTEE 0.10
Director
$0 $0 $0
MICHAEL DAY TRUSTEE 0.10
Director
$0 $0 $0
BILL FAIRCHILD TRUSTEE 0.10
Director
$0 $0 $0
LAURI FROST TRUSTEE 0.10
Director
$0 $0 $0
RYAN FROST TRUSTEE 0.10
Director
$0 $0 $0
TRUDY PALLESCHI TRUSTEE 0.10
Director
$0 $0 $0
PATRICIA PRATTE TRUSTEE 0.10
Director
$0 $0 $0
JULIE SAWTELLE TRUSTEE 0.10
Director
$0 $0 $0
BRETT WITHERELL TRUSTEE 0.10
Director
$0 $0 $0
CHAD WRIGHT TRUSTEE 0.10
Director
$0 $0 $0
JULIE WRIGHT TRUSTEE 0.10
Director
$0 $0 $0
DR LARRY BUGGIA TRUSTEE EMER 0.10
Director
$0 $0 $0
GERALD HAM TRUSTEE EMER 0.10
Director
$0 $0 $0
DAVID HECKMAN TRUSTEE EMER 0.10
Director
$0 $0 $0
RONALD MOODY TRUSTEE EMER 0.10
Director
$0 $0 $0
RICHARD ROBERTSON TRUSTE EMERI 0.10
Director
$0 $0 $0
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 $-12,124 $94,656 $2,144,411 $-106,780
2024 $33,547 $46,846 $2,057,400 $-13,299
2023 $60,984 $73,020 $1,903,486 $-12,036
2022 $174,762 $49,634 $2,137,370 $125,128
2021 $181,641 $49,394 $2,160,465 $132,247
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