NORTH HAVEN FOUNDATION

EIN: 016022839 501(c)(3)

ROCKLAND, ME

Total Revenue
$422,086
Total Expenses
$314,816
Total Assets
$5,770,081
Net Assets
$5,770,081
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1965
Legal Domicile
ME
Principal Officer
JESSE RUTTER
Phone
2075944421
Tax Period
2023-07-01 to 2024-06-30

NORTH HAVEN FOUNDATION, founded in 1965, is a small nonprofit that reported $422K in total revenue in fiscal year 2023. Revenue fell 25% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $107K, a strong 25% operating margin.

Mission

THE MISSION OF THE FOUNDATION IS TO ASSIST GRADUATES OF THE NORTH HAVEN COMMUNITY SCHOOL AND ADULT RESIDENTS OF THE ISLAND IN THEIR PURSUIT OF A POST SECONDARY EDUCATION, AND TO SUPPORT THE NORTH HAVEN COMMUNITY SCHOOL IN SUPPORT OF ITS EXTRA CURRICULAR AND TUITION PROGRAMS AND COLLEGE COUNSELING.

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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 $119,736
Program Service Revenue $0
Investment Income $302,350
Other Revenue $0
TOTAL REVENUE $422,086

Expense Breakdown

Grants Paid $253,949
Salaries & Benefits $0
Fundraising Expenses $48,382
Program Expenses $253,949
Other Expenses $60,867
TOTAL EXPENSES $314,816

Year-over-Year Comparison

2023 2022 Change
Revenue $422,086 $559,197 -0.2%
Expenses $314,816 $253,455 +0.2%
Net Income $107,270 $305,742 -0.6%
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

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Liquidity & Cash Position

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Governance

Voting Members
11
Independent Members
11
Employees
N/A
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
$0
Total Directors
12
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
LINDA N CABOT TRUSTEE N/A
Director
$0 $0 $0
PATRICIA CURTIS CO-VICE PRES N/A
Officer Director
$0 $0 $0
JANICE HOPKINS PRESIDENT N/A
Officer Director
$0 $0 $0
CHALRES CUNNINGHAM JR CO-VICE PRES N/A
Officer Director
$0 $0 $0
ELIZABETH LOVELL TRUSTEE N/A
Director
$0 $0 $0
KATHLEEN MACY TRUSTEE N/A
Director
$0 $0 $0
BRYNE MURPHY TURSTEE N/A
Director
$0 $0 $0
CHARLES F PINGREE TRUSTEE N/A
Director
$0 $0 $0
JESSE RUTTER TREASURER AN N/A
Officer Director
$0 $0 $0
HAVEN HOPKINS STONE EXECUTIVE DI N/A
Officer Director
$0 $0 $0
DAVID TESTA TRUSTEE N/A
Director
$0 $0 $0
LAURIE WARREN TRUSTEE N/A
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 No data No data No data No data
2024 $422,086 $314,816 $5,770,081 $107,270
2023 $559,197 $253,455 $5,292,378 $305,742
2022 $621,495 $230,658 $4,860,567 $390,837
2021 $536,925 $139,264 $5,504,744 $397,661
2020 $344,758 $155,368 $4,279,436 $189,390
2019 $538,515 $150,651 $4,167,060 $387,864
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