Rural Aspirations Project

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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

2014

Legal Domicile

Principal Officer

Korah Soll

Phone

2078011595

Tax Period

2023-01-01 to 2023-12-31

Rural Aspirations Project, founded in 2014, is a small nonprofit in the Education sector that reported $364K in total revenue in fiscal year 2023. Revenue decreased 8% compared to the prior year.

Mission

To expand educational opportunities that develop and honor community while stimulating the innate curiosity of students and teachers.

Program Service Accomplishments

Program 1

Expenses: $124,440 Revenue: $250

Collaborative programs: Maine forest collaborative - Education coordination for statewide programming and curriculum. To develop project based learning programs tied to rural community development...

Collaborative programs: Maine forest collaborative - Education coordination for statewide programming and curriculum. To develop project based learning programs tied to rural community development needs. Services include development of the Maine forest collaborative, a program that served 6 schools, 6 teachers, and 79 students.

Program 2

Expenses: $102,588 Revenue: $119,363

Responsive professional development: Statewide services offering responsive professional development for rural teachers and administrators. Work with rural schools to provide professional development for teachers, administrators, and support staff based on the unique needs of the particular school or collection of schools within a region. Services range from cirriculum development with one teacher for one program to whole school re-design with community integration.

Program 3

Expenses: $60,164

WCYLC - Research and landscape analysis in preparation of launching a project based learning program focused on youth civic engagement in 2024.

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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 $228,800

Program Service Revenue $134,863

Investment Income $140

Other Revenue $0

TOTAL REVENUE $363,803

Expense Breakdown

Grants Paid $0

Salaries & Benefits $317,570

Fundraising Expenses $9,131

Program Expenses $350,680

Other Expenses $80,837

TOTAL EXPENSES $398,407

Year-over-Year Comparison

	2023	2022	Change
Revenue	$363,803	$395,006	-0.1%
Expenses	$398,407	$271,265	+0.5%
Net Income	$-34,604	$123,741	-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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Korah Soll	Executive Director	40.00		$83,428	$0	$83,428
Caitlin Hutt	Director	1.00	Director	$0	$0	$0
Todd West	Board Treasurer	1.00	Director	$0	$0	$0
Jessica Woods	Treasurer	1.00	Officer Director	$0	$0	$0
Linda Bowe	Director	1.00	Director	$0	$0	$0
John Van Dis	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	No data	No data	No data	No data
2023	$363,803	$398,407	$274,414	$-34,604
2022	$395,006	$271,265	$301,662	$123,741
2021	$224,824	$255,614	$177,921	$-30,790
2020	$244,032	$209,672	$208,711	$34,360