EDUCARE CENTRAL MAINE

EIN: 264176872 501(c)(3) Education

WATERVILLE, ME

Total Revenue
$296,987
Total Expenses
$519,033
Total Assets
$9,998,207
Net Assets
$9,939,107
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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
2009
Legal Domicile
ME
Principal Officer
SUZANNE WALSH
Phone
2078591500
Tax Period
2023-10-01 to 2024-09-30

EDUCARE CENTRAL MAINE, founded in 2009, is a small nonprofit in the Education sector that reported $297K in total revenue in fiscal year 2023. Revenue fell 78% from the prior year — a significant decline worth monitoring. Expenses of $519K exceeded revenue, resulting in a 75% operating deficit.

Mission

EDUCARE CENTRAL MAINE WILL PROVIDE, MODEL AND EXTEND HIGH QUALITY EARLY CARE AND EDUCATION PRACTICES TO YOUNG CHILDREN, THEIR FAMILIES AND COMMUNITIES TO IMPROVE SCHOOL READINESS AND CLOSE THE ACHIEVEMENT GAP.

Program Service Accomplishments

Program 1
Expenses: $459,927 Revenue: $0

OPERATION OF EDUCARE CENTRAL MAINE FACILITY AT 56 DRUMMOND AVENUE, WATERVILLE TO PROVIDE EARLY CHILDHOOD EDUCATION SERVICES CONSISTENT WITH THE ORGANIZATION'S MISSION.

Program 2
Expenses: $34,679 Revenue: $0

LAB SCHOOL & LEARNING HUB - THE EDUCARE CENTRAL MAINE LAB SCHOOL PROVIDES A MODEL EARLY CHILDHOOD PROGRAM FOR DEVELOPING PROFESSIONAL THROUGH FIELD PLACEMENT, RESEARCH AND TRAINING, OBSERVATION AND...

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LAB SCHOOL & LEARNING HUB - THE EDUCARE CENTRAL MAINE LAB SCHOOL PROVIDES A MODEL EARLY CHILDHOOD PROGRAM FOR DEVELOPING PROFESSIONAL THROUGH FIELD PLACEMENT, RESEARCH AND TRAINING, OBSERVATION AND REFLECTION, TO ASPIRING ASSOCIATE, BACHELOR, AND MASTER'S DEGREE STUDENTS ENROLLED IN MAINE'S HIGHER EDUCATION PARTNERSHIP INSTITUTIONS. THE EDUCARE CENTRAL MAINE LEARNING HUB IS A MODEL DEMONSTRATION SITE PROVIDING INCREASED ACCESS TO HIGH-QUALITY, RESEARCH-BASED PROFESSIONAL DEVELOPMENT TO BUILD PROFESSIONAL CAPACITY FOR THE EARLY CHILDHOOD WORKFORCE.

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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 $172,187
Program Service Revenue $0
Investment Income $75,907
Other Revenue $48,893
TOTAL REVENUE $296,987

Expense Breakdown

Grants Paid $306,712
Salaries & Benefits $0
Fundraising Expenses $4,041
Program Expenses $494,606
Other Expenses $212,321
TOTAL EXPENSES $519,033

Year-over-Year Comparison

2023 2022 Change
Revenue $296,987 $1,375,014 -0.8%
Expenses $519,033 $543,754 0.0%
Net Income $-222,046 $831,260 -1.3%
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
10
Independent Members
9
Employees
N/A
Volunteers
10

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
3
$178,448
Total Directors
10
$178,448
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JIM CLAIR CHAIRPERSON 2.00
Officer Director
$0 $0 $0
PETER HALLEN VICE CHAIRPERSON 1.00
Officer Director
$0 $0 $0
SUZANNE WALSH SECRETARY/TREASURER 2.00
Officer Director
$0 $29,486 $178,448
BILL ALFOND DIRECTOR 1.00
Director
$0 $0 $0
MICHAEL BURKE DIRECTOR 1.00
Director
$0 $0 $0
JEREMY FISCHER DIRECTOR 1.00
Director
$0 $0 $0
ERIC HALEY DIRECTOR 1.00
Director
$0 $0 $0
SAM HIGHT DIRECTOR 1.00
Director
$0 $0 $0
RACHEL ISAACS DIRECTOR 1.00
Director
$0 $0 $0
MICHAEL MITCHELL DIRECTOR 1.00
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
2024 $296,987 $519,033 $9,998,207 $-222,046
2023 $1,375,014 $543,754 $9,957,884 $831,260
2022 $409,236 $526,616 $9,050,689 $-117,380
2021 $403,943 $489,005 $9,472,369 $-85,062
2020 $186,271 $374,116 $9,461,876 $-187,845
2019 $1,064,934 $520,384 $9,561,225 $544,550
2018 $403,946 $515,646 $9,074,047 $-111,700
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