Southern Maine Community College Foundation

Analysis

Southern Maine Community College Foundation is a registered charity in United States, based in S Portland, ME. It received its IRS tax-exemption ruling in November 2001, 25 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a organisation supporting a government-owned college or university under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Southern Maine Community College Foundation reported income of $2.1m and spending of $530k, leaving 74% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $341k to $2.1m (+507%), an average of +57% a year. The sharpest change came in the year to June 2020, when income rose by 94%. Over the whole period it spent 33% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Southern Maine Community College Foundation sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 85th percentile within ME. Charities of a similar size with the same main cause include Southside Family Charter School ($2.1m), The Institute for Educational Advancement ($2.1m) and Village Improvement Assoc of West Haven ($2.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 95% of the total. At year end it held assets of $5.4m against liabilities of $58k, net assets of $5.3m.