Maine Arts Academy

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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

2016

Legal Domicile

Principal Officer

Mary Heather King

Phone

2074807917

Tax Period

2024-07-01 to 2025-06-30

Maine Arts Academy, founded in 2016, is a community nonprofit in the Education sector that reported $3.3M in total revenue in fiscal year 2024.

Mission

The Academy is dedicated to academic excellence, commitment to the performing arts, leadership, integrity, and a virtuous code of conduct, all of which prepare students to meet the demands of a contemporary world through thoughtful attention to curriculum, culture, and civic responsibilities.

Program Service Accomplishments

Program 1

Expenses: $1,648,366

The performing arts curriculum in music, theatre and dance will include lessons, technique classes, small and large group ensembles, comprehensive courses in theory, history, and more.

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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 (2024)

Revenue Breakdown

Contributions & Grants $3,075,762

Program Service Revenue $144,986

Investment Income $0

Other Revenue $122,579

TOTAL REVENUE $3,343,327

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,983,323

Fundraising Expenses $0

Program Expenses $1,648,366

Other Expenses $1,457,566

TOTAL EXPENSES $3,440,889

Year-over-Year Comparison

	2024	2023	Change
Revenue	$3,343,327	$3,148,038	+0.1%
Expenses	$3,440,889	$3,253,221	+0.1%
Net Income	$-97,562	$-105,183	-0.1%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Jonas Maines	Director	002.00	Director	$0	$0	$0
Linda Warner	President	002.00	Officer Director	$0	$0	$0
Andrew Landry	Vice President	002.00	Officer Director	$0	$0	$0
Timothy Rector	Treasurer	002.00	Officer Director	$0	$0	$0
Mitchell Thomas	Director	002.00	Director	$0	$0	$0
April Hughes	Secretary	002.00	Director	$0	$0	$0
Rachel White	Director	002.00	Director	$0	$0	$0
Michael Fortin	Director	002.00	Director	$0	$0	$0
Kelly Clark	Director	002.00	Director	$0	$0	$0
John Neal	Director	002.00	Director	$0	$0	$0
Mary Heather King	Superintendent	037.50	Officer	$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	$3,343,327	$3,440,889	$4,250,863	$-97,562
2024	$3,148,038	$3,253,221	$4,101,593	$-105,183
2023	$2,748,824	$2,873,188	$4,317,490	$-124,364
2022	$2,603,235	$2,576,734	$1,212,302	$26,501
2021	$3,238,498	$2,690,453	$822,323	$548,045
2020	$2,463,647	$2,399,933	$642,460	$63,714
2019	$2,521,577	$2,133,087	$495,565	$388,490
2018	$1,540,958	$1,449,356	$132,721	$91,602