Aroostook Aspirations Initiative

Nonprofit profile at a glance

EIN
461594917
IRS 990 coverage
2013–2023
Forms available
Form 990 2023
Location
Presque Isle, ME, USA
Phone
2077640876
Rating
46
Verdict
MIXED
Rating confidence
Moderate
Sector
Human Service Organizations

Reported finances

Revenue
$20,903
Expenses
$23,443
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

9 people listed

Executive titles in this filing

  • SANDRA GAUVIN (PRESIDENT)

People named in this filing

  • JENNIFER DESCHENE (DIRECTOR)
  • RAYNOLD GAUVIN (TREASURER)
  • SANDRA GAUVIN (PRESIDENT)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The company is organized exclusively to promote charitable, scientific, and educational purposes. The purpose of the company is to: (a)promote access and availability of higher education opportunities to Maine's high school graduates (b)provide financial assistance to academically deserving and/or financially needy high school graduates in Maine in the form of scholarship grants or award and (c)raise funds and accept contributions, grants, or gifts from any public or private agency, organization, or individual for the purpose of financing its activities and expending those monies for the purposes of the corporation.

What it reported doing in 2023

We will award a 1,000 scholarship for a senior in each of the 16 high schools in aroostook county. Our priority population is the first generation and/or economically disadvantaged aroostook county youth who selects one of the 3 colleges located in aroostook county or the 1 college in kennebec county.

Operating model

Revenue model
Investment-supported. 64% of the money available for current operations came from recurring investment income.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 90
  • Accountability: 82
  • Sustainability: 30
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -12.2%; rating input score 47; 47th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 3; 3rd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: -5.6% per year; rating input score 0; 37th percentile among comparable filings
  • Revenue growth: -12.6% per year; rating input score 0; 29th percentile among comparable filings
  • Asset growth: 2.7% per year; rating input score 100; 57th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 9 of 9 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $0 · 9 people listed
  • Consistency: 14 of 14 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 10 filing years from 2013 to 2023
  • Contacts: How to reach this organization
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • Review — Accountability: Governance controls: 2 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 3/100.
  • Moderate — Sustainability: Operating margin scored 47/100.