Form 990 for tax year 2022
Filed by SENATOR GEORGE J MITCHELL SCHOLARSHIP RESEARCH INSTITUTE.
Totals
- Total revenue
- $3,294,225
- Total expenses
- $2,882,565
- Contributions and grants received
- $1,740,706
- Grants paid
- $1,460,894
- Program service revenue
- $0
- Investment income
- $1,536,050
- Other revenue
- $17,469
- Total assets, end of year
- $45,833,785
- Total liabilities, end of year
- $4,886,910
- Net assets or fund balances, end of year
- $40,946,875
- Program services expenses (Part IX)
- $2,399,301
- Management and general expenses
- $344,147
- Fundraising expenses
- $139,117
- Program service expenses (Part III)
- $2,399,301
Program services were 83.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1c · Fundraising events
$199,269
-
1f · All other contributions, gifts and grants
$1,541,437
-
1g · Noncash contributions included above
$138,975
-
3 · Investment income
total $877,452 · excluded $877,452
-
7a · Gross sales of assets other than inventory
securities $4,632,976
-
7b · Less cost or other basis and sales expenses
securities $3,974,378
-
7c · Gain or loss
securities $658,598
-
7d · Net gain or loss
total $658,598 · excluded $658,598
-
8a · Fundraising events: gross income
$63,086
-
8a · Fundraising events: contributions included on line 1c
$199,269
-
8b · Fundraising events: direct expenses
$71,817
-
8c · Net income from fundraising events
total -$8,731 · excluded -$8,731
-
9a · Gaming: gross income
$36,000
-
9b · Gaming: direct expenses
$9,800
-
9c · Net income from gaming
total $26,200 · excluded $26,200
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $1,460,894 · program services $1,460,894
-
5 · Compensation of officers, directors and key employees
total $169,008 · program services $140,673 · management and general $20,178 · fundraising $8,157
-
7 · Other salaries and wages
total $543,694 · program services $430,279 · management and general $30,780 · fundraising $82,635
-
8 · Pension plan contributions
total $18,576 · program services $14,120 · management and general $3,173 · fundraising $1,283
-
9 · Other employee benefits
total $69,763 · program services $59,409 · management and general $7,374 · fundraising $2,980
-
10 · Payroll taxes
total $52,568 · program services $43,755 · management and general $6,276 · fundraising $2,537
-
11c · Fees: accounting
total $22,450 · management and general $22,450
-
11f · Fees: investment management
total $235,945 · management and general $235,945
-
11g · Fees: other
total $2,625 · program services $2,185 · management and general $313 · fundraising $127
-
12 · Advertising and promotion
total $10,998 · program services $6,079 · management and general $2,180 · fundraising $2,739
-
13 · Office expenses
total $79,749 · program services $50,634 · management and general $3,204 · fundraising $25,911
-
14 · Information technology
total $25,070 · program services $18,671 · management and general $1,225 · fundraising $5,174
-
16 · Occupancy
total $87,038 · program services $73,837 · management and general $8,619 · fundraising $4,582
-
17 · Travel
total $6,940 · program services $6,819 · management and general $30 · fundraising $91
-
19 · Conferences, conventions and meetings
total $72,208 · program services $71,340 · management and general $291 · fundraising $577
-
22 · Depreciation, depletion and amortization
total $13,419 · program services $10,729 · management and general $947 · fundraising $1,743
-
23 · Insurance
total $11,620 · program services $9,877 · management and general $1,162 · fundraising $581
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $100 · end of year $100
-
2 · Savings and temporary cash investments
beginning of year $3,173,951 · end of year $4,094,897
-
3 · Pledges and grants receivable
beginning of year $127,500 · end of year $261,091
-
4 · Accounts receivable
beginning of year $11,007 · end of year $12,250
-
9 · Prepaid expenses and deferred charges
beginning of year $23,255 · end of year $26,835
-
10a · Land, buildings and equipment: cost or other basis
$106,183
-
10b · Land, buildings and equipment: accumulated depreciation
$70,652
-
10c · Land, buildings and equipment, net
beginning of year $25,432 · end of year $35,531
-
11 · Investments: publicly traded securities
beginning of year $20,039,834 · end of year $11,546,955
-
12 · Investments: other securities
beginning of year $29,371,451 · end of year $29,617,873
-
15 · Other assets
beginning of year $138,861 · end of year $238,253
-
17 · Accounts payable and accrued expenses
beginning of year $102,097 · end of year $108,073
-
18 · Grants payable
beginning of year $3,852,597 · end of year $3,892,430
-
19 · Deferred revenue
beginning of year $167,876 · end of year $648,154
-
21 · Escrow or custodial account liability
beginning of year $138,861 · end of year $120,710
-
25 · Other liabilities
beginning of year $0 · end of year $117,543
-
27 · Net assets without donor restrictions
beginning of year -$416,369 · end of year -$361,392
-
28 · Net assets with donor restrictions
beginning of year $49,066,329 · end of year $41,308,267
Mission and programs · 2022
Mission
The principal purpose of the Mitchell Institute is to provide scholarships and other support to Maine students pursuing higher education. Because of our organization's desire to understand and remove obstacles to achieving a college degree, a related purpose is to engage in research on these issues.
Activities or mission (Part I)
Provide scholarships and other support to Maine students pursuing higher education
-
Providing scholarship support to Maine students attending college or university and conducting research on ways to advance the higher education aspirations of Maine students.
Expenses $2,399,301 · Grants $1,460,894
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Gena Canning
Director
- Total calculated
- $0
- Hours/week
- 1
-
Charles de Sieyes
Director
- Total calculated
- $0
- Hours/week
- 1
-
Abigail Diaz
Director
- Total calculated
- $0
- Hours/week
- 1
-
Bruce Epstein
Director
- Total calculated
- $0
- Hours/week
- 1
-
Peter Fendler
Director
- Total calculated
- $0
- Hours/week
- 1
-
Mark Fernandez
Director
- Total calculated
- $0
- Hours/week
- 1
-
Joan Fischer
Director
- Total calculated
- $0
- Hours/week
- 1
-
Mark Haley
Director
- Total calculated
- $0
- Hours/week
- 1
-
Nathan Kinney
Director
- Total calculated
- $0
- Hours/week
- 1
-
Scott Maker
Director
- Total calculated
- $0
- Hours/week
- 1
-
Camita McCoy
Director
- Total calculated
- $0
- Hours/week
- 1
-
Heather Mitchell
Director
- Total calculated
- $0
- Hours/week
- 1
-
James Morris
Director
- Total calculated
- $0
- Hours/week
- 1
-
Alison Nathanson
Director
- Total calculated
- $0
- Hours/week
- 1
-
Christopher Pierce
Director
- Total calculated
- $0
- Hours/week
- 1
-
Elyse Pratt-Ronco
Director
- Total calculated
- $0
- Hours/week
- 1
-
Lauren Segal
Director
- Total calculated
- $0
- Hours/week
- 1
-
Paul Suitter
Director
- Total calculated
- $0
- Hours/week
- 1
-
Virginia Swain
Director
- Total calculated
- $0
- Hours/week
- 1
-
Nicole Witherbee
Director
- Total calculated
- $0
- Hours/week
- 1
-
Sara Burns
Chair
- Total calculated
- $0
- Hours/week
- 1
-
Najila Frayha
Vice Chair
- Total calculated
- $0
- Hours/week
- 1
-
Joseph Foley
Treasurer
- Total calculated
- $0
- Hours/week
- 1
-
Jared Cash
President/Secretary
- Total calculated
- $169,008
- From this org
- $151,676
- From related orgs
- $0
- Other
- $17,332
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $151,676
- Bonus
- $0
- Other
- $0
- Deferred
- $8,000
- Nontaxable benefits
- $9,332
- Filer's total
- $169,008
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 3 · Compensation committee
- 3 · Approval by the board or compensation committee
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 31 July 2023
- IRS schema version
- 2022v5.0
- Source object
- 202302169349300445
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