Maine Media College

Analysis

Maine Media College is a registered charity in United States, based in Rockport, ME. It received its IRS tax-exemption ruling in July 2007, 19 years ago. 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 December 2023, Maine Media College reported income of $3.4m and spending of $4.0m, spending 117% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $4.1m to $3.4m (-17%), an average of -4.4% a year. The sharpest change came in the year to December 2020, when income dropped by 19%. Over the whole period it spent 97% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Maine Media College sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 89th percentile within ME. Charities of a similar size with the same main cause include New Bedford Economic Development Council Inc ($3.4m), Habitat for Humanity International Inc ($3.4m) and The Pace School Endowment ($3.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 16% and program service revenue 85% of the total. Compensation of current officers, directors and key employees was $150k (3.8% of expenses). Other salaries and wages came to $1.4m. At year end it held assets of $6.8m against liabilities of $2.3m, net assets of $4.5m. It reported 61 employees.