Northern New England Center for Financial Training

Analysis

Northern New England Center for Financial Training is a registered charity in United States, based in Springvale, ME. It received its IRS tax-exemption ruling in September 1997, 29 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Northern New England Center for Financial Training reported income of $405k and spending of $409k, spending 101% of its income. Across the 5 years on record, from June 2020 to June 2024, income fell from $583k to $405k (-30%), an average of -8.7% a year. The sharpest change came in the year to June 2021, when income dropped by 33%. Over the whole period it spent 92% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Northern New England Center for Financial Training sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 62nd percentile within ME. Charities of a similar size with the same main cause include Hampton School Inc ($405k), Alpha Chi Rho Educational Foundation Inc ($406k) and Howells-Dodge Educational Facilities Leasing Corporation ($405k).

On its Form 990 for the period ending June 2024, revenue came from program service revenue 97% of the total. Compensation of current officers, directors and key employees was $104k (25% of expenses). Other salaries and wages came to $86k. At year end it held assets of $311k against liabilities of $2,340, net assets of $308k. It reported 2 employees.