College of the Atlantic

Analysis

College of the Atlantic is a registered charity in United States, based in Bar Harbor, ME. It received its IRS tax-exemption ruling in September 1969, 57 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 June 2023, College of the Atlantic reported income of $28.0m and spending of $30.2m, spending 108% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $37.4m to $28.0m (-25%), an average of -7.0% a year. The sharpest change came in the year to June 2020, when income dropped by 20%. Over the whole period it spent 90% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, College of the Atlantic sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within ME. Charities of a similar size with the same main cause include Child Development Centers Inc ($28.0m), Oshman Family Jewish Community Center ($28.0m) and Hope and Help Center of Central Florida Inc ($28.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 27% and program service revenue 67% of the total. Compensation of current officers, directors and key employees was $358k (1.2% of expenses). Other salaries and wages came to $7.7m. At year end it held assets of $141.9m against liabilities of $15.6m, net assets of $126.3m. It reported 616 employees.