The Foundation for Maine's Community Colleges (EIN 271363414) - Form 990 Financial Analysis & Trantor Score

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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

Principal Officer

Dr John Fitzsimmons

Phone

2073216153

Tax Period

2023-07-01 to 2024-06-30

The Foundation for Maine's Community Colleges, founded in 2009, is a community nonprofit in the Education sector that reported $1.4M in total revenue in fiscal year 2023. Expenses of $6.9M exceeded revenue, resulting in a 402% operating deficit.

Mission

Provide support and resources for Maine's seven community colleges.

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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%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $739,671

Program Service Revenue $368,217

Investment Income $271,433

Other Revenue $0

TOTAL REVENUE $1,379,321

Expense Breakdown

Grants Paid $6,514,446

Salaries & Benefits $332,137

Fundraising Expenses $199,958

Program Expenses $6,514,446

Other Expenses $80,746

TOTAL EXPENSES $6,927,329

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,379,321	$1,406,703	0.0%
Expenses	$6,927,329	$8,256,473	-0.2%
Net Income	$-5,548,008	$-6,849,770	-0.2%

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

Governance

Voting Members

Independent Members

Employees

Volunteers

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

$150,123

Total Directors

$150,123

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Dr John Fitzsimmons	President	30.00	Officer Director	$119,395	$30,728	$150,123
Hon John R McKernan Jr	Chair	8.00	Officer Director	$0	$0	$0
Lisa M Gorman	Vice Chair	7.00	Officer Director	$0	$0	$0
Hon Daniel E Wathen	Secretary	5.00	Officer Director	$0	$0	$0
Lawrence A Wold	Treasurer	6.00	Officer Director	$0	$0	$0
Scott Ballard	Director	5.00	Director	$0	$0	$0
David Daigler	Director	5.00	Director	$0	$0	$0
Tony DiSotto	Director	5.00	Director	$0	$0	$0
Robert Montgomery-Rice	Director	5.00	Director	$0	$0	$0
Joseph Purington	Director	5.00	Director	$0	$0	$0
Elaine D Rosen	Director	7.00	Director	$0	$0	$0
Carol Epstein	Past Director	5.00	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
2025	No data	No data	No data	No data
2024	$1,379,321	$6,927,329	$9,433,902	$-5,548,008
2023	$1,406,703	$8,256,473	$14,060,481	$-6,849,770
2022	$16,834,487	$3,942,310	$20,354,624	$12,892,177
2021	$2,353,007	$2,642,418	$8,006,332	$-289,411
2020	$2,189,713	$2,844,514	$8,040,056	$-654,801
2019	$5,054,259	$2,781,500	$8,491,613	$2,272,759
2018	$2,116,793	$3,252,893	$6,014,846	$-1,136,100

The Foundation for Maine's Community Colleges