Maine Central Institute

Analysis

Maine Central Institute is a registered charity in United States, based in Pittsfield, ME. It received its IRS tax-exemption ruling in December 1972, 54 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 June 2023, Maine Central Institute reported income of $14.1m and spending of $11.1m, leaving 21% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $9.4m to $14.1m (+50%), an average of +11% a year. The sharpest change came in the year to June 2023, when income rose by 21%. Over the whole period it spent 91% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Maine Central Institute sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within ME. Charities of a similar size with the same main cause include Monte Vista Christian School Inc ($14.1m), Umatilla-Morrow County Head Start Inc ($14.1m) and Envision Xpress Inc ($14.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 34% and program service revenue 65% of the total. Compensation of current officers, directors and key employees was $311k (2.8% of expenses). Other salaries and wages came to $4.0m. At year end it held assets of $27.3m against liabilities of $4.9m, net assets of $22.5m. It reported 157 employees.