Civic Intelligence

Maine Arts Academy

EIN 47-4890021 • 501(c)3 • Augusta, ME

Profile

The Academy is dedicated to academic excellence, commitment to the performing arts, leadership, integrity, and a virtuous code of conduct, all of which prepare students to meet the demands of a contemporary world through thoughtful attention to curriculum, culture, and civic responsibilities.

310 Cony RoadAugusta, ME 04330

www.maineartsacademy.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

74th percentile

0.30x

Higher debt load relative to assets than 74% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

60th percentile

0.14x

Higher debt load relative to revenue than 60% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

42nd percentile

1.0%

Higher net margin than 42% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

86th percentile

35%

Faster asset growth than 86% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2022

Revenue Growth

37th percentile

1.1%

Faster revenue growth than 37% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2022

Assets

Down

$4,101,593

Down $215,897 (-5.0%) from 2023

Liabilities

Down

$3,527,713

Down $66,315 (-1.8%) from 2023

Net Assets

Down

$573,880

Down $149,582 (-21%) from 2023

Revenue

Up

$3,148,038

Up $399,214 (+15%) from 2023

Expenses

Up

$3,253,221

Up $380,033 (+13%) from 2023

Net Income

Up

-$105,183

Up $19,181 (+15%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$6.0M$4.0M$2.0M$0-$2.0MAssets 2016: $13,471Liabilities 2016: $225,585Net Assets 2016: -$212,1142016Assets 2017: $111,851Liabilities 2017: $468,873Net Assets 2017: -$357,0222017Assets 2018: $132,721Liabilities 2018: $398,140Net Assets 2018: -$265,4192018Assets 2019: $495,565Liabilities 2019: $372,494Net Assets 2019: $123,0712019Assets 2020: $642,460Liabilities 2020: $455,675Net Assets 2020: $186,7852020Assets 2021: $822,323Liabilities 2021: $153,042Net Assets 2021: $669,2812021Assets 2022: $1,212,302Liabilities 2022: $366,851Net Assets 2022: $845,4512022Assets 2023: $4,317,490Liabilities 2023: $3,594,028Net Assets 2023: $723,4622023Assets 2024: $4,101,593Liabilities 2024: $3,527,713Net Assets 2024: $573,8802024

Highlighted filing

2024

Assets$4,101,593
Liabilities$3,527,713
Net Assets$573,880

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$4.0M$3.0M$2.0M$1.0M$0-$1.0MRevenue 2016: $11,178Expenses 2016: $223,292Net Income 2016: -$212,1142016Revenue 2017: $1,219,672Expenses 2017: $1,364,580Net Income 2017: -$144,9082017Revenue 2018: $1,540,958Expenses 2018: $1,449,356Net Income 2018: $91,6022018Revenue 2019: $2,521,577Expenses 2019: $2,133,087Net Income 2019: $388,4902019Revenue 2020: $2,463,647Expenses 2020: $2,399,933Net Income 2020: $63,7142020Revenue 2021: $3,238,498Expenses 2021: $2,690,453Net Income 2021: $548,0452021Revenue 2022: $2,603,235Expenses 2022: $2,576,734Net Income 2022: $26,5012022Revenue 2023: $2,748,824Expenses 2023: $2,873,188Net Income 2023: -$124,3642023Revenue 2024: $3,148,038Expenses 2024: $3,253,221Net Income 2024: -$105,1832024

Highlighted filing

2024

Revenue$3,148,038
Expenses$3,253,221
Net Income-$105,183

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 1, 2025
Return Version
2023v6.0
Gross Receipts
$3,148,038
Mission and Program Overview

Mission

The Academy is dedicated to academic excellence, commitment to the performing arts, leadership, integrity, and a virtuous code of conduct, all of which prepare students to meet the demands of a contemporary world through thoughtful attention to curriculum, culture, and civic responsibilities.

The Academy aims to transform students lives and contribute to the cultural capital of Maine by providing a high quality, comprehensive, college preparatory academic and arts education for high school students.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,337,891$3,183,643▼ $154,248
Savings and Temporary Cash Investments$171,354$233,764▲ $62,410
Prepaid Expenses and Deferred Charges$30,834$19,314▼ $11,520
Pledges and Grants Receivable$32,411$11,787▼ $20,624
Total Assets$4,317,490$4,101,593▼ $215,897
Other Assets Total$745,000$653,085▼ $91,915
Liabilities
Mortgage Notes Payable Secured by Investment Property$3,375,000$3,375,000→ $0
Accounts Payable and Accrued Expenses$219,028$152,713▼ $66,315
Total Liabilities$3,594,028$3,527,713▼ $66,315
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$705,964$564,331▼ $141,633
Net Assets With Donor Restrictions$17,498$9,549▼ $7,949
Total Net Assets Fund Balance$723,462$573,880▼ $149,582
Total Liabilities and Net Assets / Fund Balance$4,317,490$4,101,593▼ $215,897

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,873,095$151,687$3,024,782
Equipment$305,576$241,578$547,154
Land$4,972-$5,737
Other Assets Org$102,500--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Linda WarnerPresident
Andrew LandryVice President
April HughesDirector
Mitchell ThomasDirector
Sherry GilbertDirector
Janna TownsendSecretary
Mary Heather KingSuperintendent
Timothy RectorTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Poland Bus Service InBus ServicePO BOX 3116, Skowhegan, ME 04976-
Snow Pond Center for the ArtsRents and Professional8 Goldenrod Lane, Sidney, ME 04330-
Revenue and Support

Revenue Composition

Contributions and Grants
$2,963,525
Program Service Revenue
$14,754
Investment Income
$0
Other Revenue
$169,759
All Other Contributions
$10,644
Change in Net Assets
$-105,183

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,148,038
Total Revenue per Audited Statements
$3,148,038
Total Revenue per Form 990
$3,148,038
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,814,261
Other Expenses$1,438,960
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,040,611$431,504-$1,472,115
Other Employee Benefits$225,096$117,050-$342,146
Occupancy-$178,946-$178,946
Office Expenses$132,096$39,207-$171,303
Interest-$166,108-$166,108
Depreciation Depletion-$145,372-$145,372
Fees for Services Other$50,612$79,555-$130,167
All Other Expenses$27,257$89,156-$116,413
Insurance-$40,643-$40,643
Information Technology$12,509$4,562-$17,071
Fees for Services Accounting-$8,855-$8,855
Fees for Services Legal-$7,826-$7,826
Other Expenses$5,874$30,000-$5,874
Total Functional Expenses$1,500,788$1,752,433$0$3,253,221

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,253,221
Total Expenses per Audited Statements$3,253,221
Total Expenses per Form 990$3,253,221
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$5,729
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal income taxes-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section C, Line 19

Policies and meeting minutes are on the website. All other documents are available upon request.

Form 990, Part VI, Section B, Line 12C

They monitor and enforce compliance with the conflict of interest policy by putting in the policy manual that in the event that a Board member is employed by a business or has a secondary interest in a business which furnishes goods or services to the school, that Board member has to declare their secondary interest and refrain from debating or voting when it pertains to contracts with that business.

Form 990, Part VI, Section B, Line 15A

Board of Directors determines the compensation for the Executive Director.

Form 990, Part VI, Section B, Line 15B

Board of Directors and Executive Director determine compensation for everyone else.

Form 990, Part VI, Section B, Line 11B

The 990 is reviewed by the CFO and Treasurer after that, it is presented to the Board.

Filing and Contact Details

Filer

Filer Name
Maine Arts Academy
EIN
47-4890021
Phone
2074807917
Address
310 CONY ROAD, AUGUSTA, ME 04330

Signing Officer

Name
Mary Heather King
Title
Superintendent
Phone
2074807917
Signed
2025-05-01
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mary Heather King
Formed
2016
Legal Domicile
Me
Voting Board Members
7
Independent Board Members
7
Employees
73

Preparer

Firm
RHR Smith & Company CPA's
Address
3 Old Orchard Road, Buxton, ME 04093
Preparer
Danielle N O'Neill
Phone
2079294606
Supplemental Narrative

Financial Statement Notes

X 2

The School is exempt from federal income taxes under Section 501c3 of the Internal Revenue Code and applicable state law. The accounting standards on accounting for uncertainty in income taxes address the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under that guidance, the School may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities based on the technical merits of the position. Examples of tax positions include the tax-exempt status of the School and various positions related to the potential sources of unrelated business taxable income. The tax benefits recognized in the financial statements from a tax position are measured based on the largest benefit that has a greater than 50 likelihood of being realized upon ultimate settlement. Management believes that there were no potential sources of unrelated business taxable income subject to tax for the years ended June 30, 2024 and 2023. Accordingly, no provision for income taxes has been made. The School files its forms 990 in the U.S. federal jurisdiction and the office of the states attorney general for the State of Maine. The School is generally no longer subject to examination by the Internal Revenue Service for years before 2020.

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IRS990/OtherExpensesGrp/TotalAmt35874
IRS990/OtherOrganizationDsc0School
IRS990/OtherRevenueMiscGrp/Desc0Federal Reimb
IRS990/OtherRevenueMiscGrp/Desc1Technology Fees
IRS990/OtherRevenueMiscGrp/Desc2Payroll Services
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IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt211353
IRS990/OtherRevenueTotalAmt0164030
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0431504
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt01040611
IRS990/OtherSalariesAndWagesGrp/TotalAmt01472115
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IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt030834
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt019314
IRS990/PrincipalOfficerNm0Mary Heather King
IRS990/PriorPeriodAdjustmentsAmt0-44399
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0611710
IRS990/ProgramServiceRevenueGrp/BusinessCd1900099
IRS990/ProgramServiceRevenueGrp/Desc0Student Activity Accounts
IRS990/ProgramServiceRevenueGrp/Desc1Instrument Fees
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1373
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1373
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IRS990/PYOtherExpensesAmt01503756
IRS990/PYOtherRevenueAmt069259
IRS990/PYProgramServiceRevenueAmt011894
IRS990/PYRevenuesLessExpensesAmt0-124364
IRS990/PYSalariesCompEmpBnftPaidAmt01369432
IRS990/PYTotalExpensesAmt02873188
IRS990/PYTotalRevenueAmt02748824
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0-105183
IRS990/RegularMonitoringEnfrcInd0true
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IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
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IRS990ScheduleA/SchoolInd0X
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt0151687
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt03024782
IRS990ScheduleD/EquipmentGrp/BookValueAmt0305576
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0241578
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0547154
IRS990ScheduleD/ExpensesSubtotalAmt03253221
IRS990ScheduleD/FootnoteTextInd0X
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IRS990ScheduleD/LandGrp/BookValueAmt04972
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt05737
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0550585
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1102500
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0LOAN PROCEEDS RECEIVABLE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1CAPITAL ACCOUNT
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Federal income taxes
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Closely-held equity interests
IRS990ScheduleD/RevenueSubtotalAmt03148038
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The School is exempt from federal income taxes under Section 501c3 of the Internal Revenue Code and applicable state law. The accounting standards on accounting for uncertainty in income taxes address the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under that guidance, the School may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities based on the technical merits of the position. Examples of tax positions include the tax-exempt status of the School and various positions related to the potential sources of unrelated business taxable income. The tax benefits recognized in the financial statements from a tax position are measured based on the largest benefit that has a greater than 50 likelihood of being realized upon ultimate settlement. Management believes that there were no potential sources of unrelated business taxable income subject to tax for the years ended June 30, 2024 and 2023. Accordingly, no provision for income taxes has been made. The School files its forms 990 in the U.S. federal jurisdiction and the office of the states attorney general for the State of Maine. The School is generally no longer subject to examination by the Internal Revenue Service for years before 2020.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0X 2
IRS990ScheduleD/TotalBookValueLandBuildingsAmt03183643
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0653085
IRS990ScheduleD/TotalExpensesPerForm990Amt03253221
IRS990ScheduleD/TotalRevenuePerForm990Amt03148038
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt03148038
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt03253221
IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0true
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0The School receives a subsidy from the State of Maine Department of Education based on the number of students and their respective places of residence. The School also receives federal grant assistance that is passed through the State of Maine Department of Education.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc06a
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Policies and meeting minutes are on the website. All other documents are available upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1They monitor and enforce compliance with the conflict of interest policy by putting in the policy manual that in the event that a Board member is employed by a business or has a secondary interest in a business which furnishes goods or services to the school, that Board member has to declare their secondary interest and refrain from debating or voting when it pertains to contracts with that business.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Board of Directors determines the compensation for the Executive Director.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Board of Directors and Executive Director determine compensation for everyone else.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The 990 is reviewed by the CFO and Treasurer after that, it is presented to the Board.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section C, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, Line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section B, Line 11b
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0ME
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt04317490
IRS990/TotalAssetsEOYAmt04101593
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IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt02963525
IRS990/TotalEmployeeCnt073
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01500788
IRS990/TotalFunctionalExpensesGrp/TotalAmt03253221
IRS990/TotalGrossUBIAmt00
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IRS990/TotalLiabilitiesEOYAmt03527713
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IRS990/TotalProgramServiceRevenueAmt014754
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IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false

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