University of New England

Analysis

University of New England is a registered charity in United States, based in Biddeford, ME. It received its IRS tax-exemption ruling in August 1997, 29 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending May 2023, University of New England reported income of $282.1m and spending of $240.9m, spending 85% of its income. Across the 5 years on record, from May 2019 to May 2023, income grew from $274.4m to $282.1m (+2.8%), an average of +0.7% a year. Over the whole period it spent 85% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, University of New England sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within ME. Charities of a similar size with the same main cause include Gemological Institute of America Inc ($281.8m), Alliance College-Ready Public Schools ($283.3m) and Samford University ($281.6m).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 9.7% and program service revenue 84% of the total. Compensation of current officers, directors and key employees was $1.6m (0.7% of expenses). Other salaries and wages came to $87.1m. At year end it held assets of $727.1m against liabilities of $209.4m, net assets of $517.7m. It reported 3,000 employees.