Northern New England Center for Financial Training

Nonprofit profile at a glance

EIN
010511583
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
Springvale, ME, USA
Phone
2076886226
Rating
60
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Adult, Continuing Education

Official website

Reported finances

Revenue
$420,877
Expenses
$400,543
Assets
$329,357
Liabilities
$598

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

Leadership & pay

18 people listed

Executive titles in this filing

  • JULIE STEVENS (VICE PRESIDENT)
  • NANCY HINES (PRESIDENT)
  • ANDREW LEDERER (EXECUTIVE DIRECTOR)

People named in this filing

  • ARIELLE DARLING (DIRECTOR)
  • BREA HATCH (VP FINANCE)
  • TERRI COOK (DIRECTOR)

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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

We strive to empower students to achieve their goals, suppot organizations to realize success and strenghen communities to create positive change by delivering specialized, relevant and affordable educational programs.

What it reported doing in 2024

Educational programs developed and provided to give bank employees industry specific background, knowledge and education about the financial services industry as well as a general business knowledge required to participate in and compete in the careers. Expenses included textbooks and other materials, instructor salaries, facilities, meals and miscellaneous expenses.

Operating model

Revenue model
Other-operating. 94% of the money available for current operations came from other operating revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - 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: 36
  • Transparency & Controls: 90
  • Accountability: 76
  • Sustainability: 49
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 39.6%; rating input score 40
  • Program expense ratio: 40.5%; rating input score 41
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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; 63rd percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • 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: 4.8%; rating input score 50; 50th percentile among comparable filings
  • Total-asset coverage ratio: 0.82; rating input score 36; 36th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 54; 54th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -11% per year; rating input score 0; 10th percentile among comparable filings
  • Revenue growth: -4.8% per year; rating input score 0; 11th percentile among comparable filings
  • Asset growth: 0.8% per year; rating input score 100; 28th percentile among comparable filings

Details

  • Where the money goes: 39.6% of revenue deployed · 40.5% of spending went to programs
  • Governance: 17 of 17 board members independent · 3 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $162K in reported program spending
  • Leadership: top reported pay $0 · 18 people listed
  • Consistency: 25 of 25 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 5 filing years from 2019 to 2024
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 40/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 41/100.
  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Sustainability: Operating margin scored 50/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 36/100.
  • Review — Sustainability: Liabilities to assets ratio scored 54/100.