Overview
What is Baxter Academy Real Estate Corporation?
Baxter Academy Real Estate Corporation, based in Portland, Maine, primarily focuses on managing and maintaining the real estate properties used for the operation of Baxter Academies of Maine. Their primary objective is to lease and hold these properties, as well as borrow funds for their upkeep. In addition, they have the authority to convey, lease, or sublease these properties, all in service of the charitable purposes of the academies. The corporation's mission is to support the activities of Baxter Academies of Maine, ensuring their smooth operation and continued growth.
Official website here: www.baxter-academy.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 55%, One-Star out of Four Star Rating
Baxter Academy Real Estate Corporation has received a low rating of 55%, indicating significant concerns regarding its accountability and financial practices. The organization has a notably low percentage of independent board members, with only 33% being independent. Additionally, it lacks a comprehensive document retention and destruction policy and has not made its tax forms publicly available on its website, which are critical elements of transparency.
On the positive side, Baxter Academy has demonstrated strong program expense management, with an impressive program expense ratio of nearly 100%. They have also implemented essential policies, including conflict of interest and whistleblower protections, contributing positively to their governance practices. However, the high liabilities to assets ratio of over 116% raises red flags about their financial health and sustainability.
Overall, while Baxter Academy has certain strengths in its programmatic focus and policies, the critical limitations in board independence and financial transparency underscore the need for improvements to enhance its accountability and trustworthiness.
This AI summary has been generated from information found on Charity Navigator.
Is Baxter Academy Real Estate Corporation legitimate?
Baxter Academy Real Estate Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Baxter Academy Real Estate Corporation 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.baxter-academy.org
What is the mission statement of Baxter Academy Real Estate Corporation?
The Baxter Academy Real Estate Corporation's mission is centered around supporting the activities of Baxter Academies of Maine. More specifically, this corporation leases, holds, and maintains the real property and improvements used in relation to the academy's operation. In addition, it has the authority to borrow money for these leasing and maintenance purposes, and it can convey, lease, or sublease the property as necessary, all in alignment with the charitable objectives of the academy.
Official website here: www.baxter-academy.org
Who is the CEO of Baxter Academy Real Estate Corporation?
Anna Klein-Smith is the President of Baxter Academy Real Estate Corporation.
Official website here: www.baxter-academy.org
What is the revenue of Baxter Academy Real Estate Corporation?
Baxter Academy Real Estate Corporation's revenue in 2022 was $0.
Official website here: www.baxter-academy.org
Who are the executives of Baxter Academy Real Estate Corporation and what are their salaries?
Here are 5 key members and their salaries:
- Compensation: $0
- Related: $146,574
- Other: $18,658
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.baxter-academy.org
Where can I find the form 990 for Baxter Academy Real Estate Corporation?
Baxter Academy Real Estate Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.baxter-academy.org
Learn more at the official website: www.baxter-academy.org
Mission Statement of Baxter Academy Real Estate Corporation
Baxter Academy Real Estate Corporation exists with the primary objective of supporting the activities of Baxter Academies of Maine. This corporation takes on the responsibility of leasing, holding, and maintaining the real property and improvements essential for the operation of the academy. Moreover, Baxter Academy Real Estate Corporation has the authority to borrow funds for the aforementioned leasing and maintenance purposes. In addition, the corporation can convey, lease, or sublease these properties, all in line with the charitable objectives of the academy. By undertaking these tasks, Baxter Academy Real Estate Corporation plays a significant role in ensuring the smooth operation and success of Baxter Academies of Maine.
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Impact
October, 2024
Baxter Academy Real Estate Corporation plays a crucial role in supporting the educational mission of Baxter Academies of Maine. By leasing, holding, and maintaining real property, it ensures that the academy has access to suitable facilities necessary for its operations. This organization enables the academy to focus on delivering quality education without the burden of managing real estate complexities. Additionally, by facilitating financial transactions for leasing and maintenance, the corporation contributes to the overall stability and growth of the educational environment. Its efforts not only enhance the infrastructure available to the academy but also support its long-term sustainability and effectiveness in delivering educational services.
This information is meant to be a general summary of Baxter Academy Real Estate Corporation. 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 2022.
Assets and Liabilities:
- Total Assets: $3,780,725
- Total Liabilities: $4,184,963
- Net Assets: -$404,238
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Organization Details
Founding Year
2016
Phone
(207) 699-5500Principal Officer
Anna Klein-Smith
Main Address
185 LANCASTER STREET, PORTLAND, ME, 04101
Website
www.baxter-academy.orgNTEE Category
Code: B90 - Education
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