Overview
What is The Foundation For Maine's Community Colleges?
The Foundation for Maine's Community Colleges is a nonprofit organization situated in South Portland, Maine. With a small team of five dedicated individuals, this organization supports Maine's community college system, which includes seven colleges. Its primary mission is to secure philanthropic funds, promote the system's public purpose, and prioritize student success and workforce development. The foundation's activities are geared towards providing the necessary resources for the colleges to offer an affordable, high-quality, and accessible education to Maine residents.
Official website here: www.maineccfoundation.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96%, Four-Star out of Four Star rating.
The Foundation For Maine's Community Colleges has achieved an impressive rating of 96% from Charity Navigator, reflecting a strong commitment to accountability and financial health. This score indicates that the organization adheres to high standards in financial management, with specific attention to oversight, transparency, and ethical governance practices.
The organization boasts a fully independent board, with 91% of its members meeting this criterion. It has robust policies in place, including conflict of interest and whistleblower policies, and maintains strict practices regarding document retention and the availability of board meeting minutes. Additionally, the low liabilities to assets ratio of 7.37% and a high program expense ratio of 92.90% further illustrate its effective use of resources towards its mission.
No significant limitations were noted in the data, suggesting that The Foundation For Maine's Community Colleges operates efficiently and responsibly, making it a trustworthy choice for potential donors and supporters.
This AI summary has been generated from information found on Charity Navigator.
Is The Foundation For Maine's Community Colleges legitimate?
The Foundation For Maine's Community Colleges is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Foundation For Maine's Community Colleges submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $121,586
Professional Fundraising Fees: $0
Other Salaries and Wages: $122,147
For more financial information, click here
Official website here: www.maineccfoundation.org
What is the mission statement of The Foundation For Maine's Community Colleges?
The Foundation For Maine's Community Colleges is committed to ensuring that Maine's seven community colleges have the necessary resources to deliver a top-notch, affordable, and accessible higher education experience. This mission is accomplished through various means, including developing reliable sources of philanthropic funding, advocating for the System's public purpose, and supporting its key priorities, such as student success and workforce development. In essence, the foundation's objective is to bolster the capabilities of Maine's community colleges to meet the educational needs of their local community.
Official website here: www.maineccfoundation.org
Who is the CEO of The Foundation For Maine's Community Colleges?
Dr John Fitzsimmons is the President of The Foundation For Maine's Community Colleges.
Official website here: www.maineccfoundation.org
What is the revenue of The Foundation For Maine's Community Colleges?
The Foundation For Maine's Community Colleges's revenue in 2023 was $1,406,703.
Official website here: www.maineccfoundation.org
Who are the executives of The Foundation For Maine's Community Colleges and what are their salaries?
The average compensation at The Foundation For Maine's Community Colleges during 2023 was $48,747. There are 5 employees and 10 volunteers at The Foundation For Maine's Community Colleges.
Here are 14 key members and their salaries:
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Official website here: www.maineccfoundation.org
Where can I find the form 990 for The Foundation For Maine's Community Colleges?
The Foundation For Maine's Community Colleges's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.maineccfoundation.org
Learn more at the official website: www.maineccfoundation.org
Mission Statement of The Foundation For Maine's Community Colleges
The Foundation for Maine's Community Colleges is committed to ensuring that Maine's seven community colleges have the necessary resources to deliver a top-notch, affordable, and accessible education to their students. This nonprofit organization, dedicated to supporting the State's community colleges, aims to develop sustainable sources of philanthropic funds for the system, thereby advancing its public purpose. Furthermore, the Foundation actively supports the system's top priorities, which include student success and workforce development. By undertaking these activities, it helps the Maine Community College System to provide a high-quality education that caters to the needs of its students and contributes to the state's workforce.
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Impact
October, 2024
The Foundation for Maine's Community Colleges plays a crucial role in enhancing the educational landscape in Maine by ensuring that the state's seven community colleges have the necessary resources to deliver high-quality, affordable, and accessible education. By developing sustainable sources of philanthropic funding, the Foundation supports the Maine Community College System in advancing its public mission and addressing pressing priorities such as student success and workforce development.
This impact is evident in the ability of community colleges to provide critical support to students, helping them achieve their educational goals and prepare for the workforce. The Foundation’s efforts also contribute to strengthening the local economy by equipping residents with skills that are in demand, thereby fostering a more educated and skilled populace. Overall, the Foundation is instrumental in driving forward the mission of accessible education for all Maine residents, enhancing both individual opportunities and community well-being.
This information is meant to be a general summary of The Foundation For Maine's Community Colleges. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $211,531
- Program Service Revenue: $352,361
- Gross Receipts: $1,406,703
Assets and Liabilities:
- Total Assets: $14,060,481
- Total Liabilities: $1,036,265
- Net Assets: $13,024,216
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Fundraising Svc. Fees
Revenue
$352,361
Organization Details
Founding Year
2009
Phone
(207) 321-6153Principal Officer
Dr John Fitzsimmons
Main Address
54 Lighthouse Circle, South Portland, ME, 04106
Website
www.maineccfoundation.orgNTEE Category
Code: B12 - Education
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