Rsu #1 Education Foundation

Nonprofit profile at a glance

EIN
273987602
IRS 990 coverage
2019–2024
Forms available
Form 990 2024, Form 990-N 2016
Location
Bath, ME, USA
Phone
2074435716
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Single Organization Support

Reported finances

Revenue
$27,226
Expenses
$26,813
Assets
$60,006
Liabilities
$0

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

Leadership & pay

4 people listed

Executive titles in this filing

  • WILLIAM RACINE (PRESIDENT)

People named in this filing

  • WILLIAM RACINE (PRESIDENT)
  • LOUIS ENSEL (TRUSTEE)
  • KARA ZECH THELAN (TRUSTEE)

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

Support and enhance the educational mission of Maine rsu #1

What it reported doing in 2024

Support of the educational mission of rsu #1, it's teachers and it's students in areas such as the arts, technology, vocational education and other areas.

Operating model

Revenue model
Donor-supported. 91% of the money available for current operations came from contributions and gifts.
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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Program spending has declined or grown slowly and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 90
  • Accountability: 88
  • Sustainability: 53
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 98.4%; rating input score 98
  • Program expense ratio: 99.8%; rating input score 100
  • 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: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: 1.5%; rating input score 57; 57th percentile among comparable filings
  • Total-asset coverage ratio: 2.24; rating input score 36; 36th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: -66.9% per year; rating input score 0; 4th percentile among comparable filings
  • Revenue growth: -38.5% per year; rating input score 0; 11th percentile among comparable filings
  • Asset growth: -0.6% per year; rating input score 0; 37th percentile among comparable filings

Details

  • Where the money goes: 98.4% of revenue deployed · 99.8% of spending went to programs
  • Governance: 4 of 4 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $27K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 11 of 11 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 6 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.

  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Review — Sustainability: Operating margin scored 57/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 36/100.