Educare Central Maine

Nonprofit profile at a glance

EIN
264176872
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Waterville, ME, USA
Phone
2078591500
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Education N.E.C.

Official website

Reported finances

Revenue
$625,055
Expenses
$560,865
Assets
$10,199,939
Liabilities
$176,622

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

11 people listed

Executive titles in this filing

  • SUZANNE WALSH (SECRETARY/TREASURER & KVCAP CEO)

Highest reported compensation

  • SUZANNE WALSH (SECRETARY/TREASURER & KVCAP CEO): $192,903 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Educare central Maine will provide, model and extend high quality early care and education practices to young children, their families and communities to improve school readiness and close the achievement gap.

What it reported doing in 2024

Lab school & learning hub - the educare central Maine lab school provides a model early childhood program for developing professional through field placement, research and training, observation and reflection, to aspiring associate, bachelor, and master's degree students enrolled in Maine's higher education partnership institutions. The educare central Maine learning hub is a model demonstration site providing increased access to high-quality, research-based professional development to build professional capacity for the early childhood workforce.

Operating model

Revenue model
Donor-supported. 82% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 65% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 95
  • Transparency & Controls: 71
  • Accountability: 62
  • Sustainability: 71
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 95.3%; rating input score 95
  • Fundraising efficiency: $29.59 raised per $1 spent on fundraising; rating input score 68; 68th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 88.9%; rating input score 89; 22nd percentile among comparable filings
  • Governance controls: 2 of 8 controls in place; rating input score 25
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 10.3%; rating input score 62; 62nd percentile among comparable filings
  • Total-asset coverage ratio: 18.19; rating input score 96; 96th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 64; 64th percentile among comparable filings
  • Officer compensation ratio: 5.9%; rating input score 50; 50th percentile among comparable filings

Growth

  • Program expense growth: 1.1% per year; rating input score 100; 22nd percentile among comparable filings
  • Revenue growth: 7.7% per year; rating input score 100; 58th percentile among comparable filings
  • Asset growth: -6.9% per year; rating input score 0; 5th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 95.3% of spending went to programs
  • Governance: 8 of 9 board members independent · 2 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $534K in reported program spending
  • Leadership: top reported pay $193K · 11 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 27 of 27 current checks pass
  • Schedules: 9 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 12 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 2 filed related-organization links
  • 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Accountability: Governance controls: 5 of 7 not reported.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Officer compensation ratio scored 50/100.