2015-08-11T08:38:53-05:00 2014-12-31 010494526 BAKER NEWMAN & NOYES PO BOX 507 PORTLAND ME 04112 990 2014-01-01 010523390 Senator George J Mitchell Scholarship Research Institute SENA 2077737700 75 Washington Avenue No 2E Portland ME 04101 Meg Baxter President/CEO 2077737700 2015-07-31 1 Nicholas E Porto P01310283 2078792100 2015-07-31 2014 2016-02-25 16:41:14Z X David Johnson 75 Washington Avenue No 2E Portland ME 04101 58957730 0 X www.mitchellinstitute.org X 1999 ME Provide scholarships and other support to Maine students pursuing higher education 24 24 9 70 0 0 4084918 2873672 55024 35125 1250505 888258 58476 51717 5448923 3848772 738603 923549 0 0 551060 559468 330000 330000 425121 347304 388677 1966967 2201694 3481956 1647078 31695095 33753595 2706746 2915150 28988349 30838445 X 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 barriers to college for Maine students, a related purpose is to engage in research on these issues. 0 0 1584945 923549 35125 Providing scholarship support to Maine students attending college or university and conducting research on ways to advance the higher education aspirations of Maine students. 1584945 1 1 0 0 0 0 0 0 1 1 1 1 0 0 0 1 1 0 0 0 1 0 0 1 1 1 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 60 0 1 9 1 0 0 0 0 0 1 1 0 0 0 0 X 24 24 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X Lisa Sirois 2077737700 75 Washington Avenue Suite 2E Portland ME 04101 Sara Burns Director 2.00 X 0 0 0 Edward Demetriou Director 2.00 X 0 0 0 Charles de Sieyes Director 2.00 X 0 0 0 Roger Deitz Director 2.00 X 0 0 0 Charles Dibner Director 2.00 X 0 0 0 Mary Mitchell Friedman Director 2.00 X 0 0 0 Keith Jones Director 2.00 X 0 0 0 Sterling Kozlowski Director 2.00 X 0 0 0 Estelle Lavoie Director 2.00 X 0 0 0 Catherine Lee Director 2.00 X 0 0 0 Jason Long Director 2.00 X 0 0 0 Mary McAleney Director 2.00 X 0 0 0 Heather Mitchell Director 2.00 X 0 0 0 Jeffrey Nathanson Director 2.00 X 0 0 0 Linda Mitchell Price Director 2.00 X 0 0 0 Melissa Roy Director 2.00 X 0 0 0 Andrew Sawyer Director 2.00 X 0 0 0 Virginia Swain Director 2.00 X 0 0 0 Anne Swift-Kayatta Director 2.00 X 0 0 0 Daniel Tishman Director 2.00 X 0 0 0 Tom Walsh Director 2.00 X 0 0 0 David Johnson Chair 2.00 X X 0 0 0 Joseph Foley Vice Chair 2.00 X X 0 0 0 Christopher Pierce Treasurer 2.00 X X 0 0 0 Meg Baxter President/Secretary 40.00 X 133508 0 16998 133508 0 16998 1 0 1 0 Community Counselling Service Co LLC 10 High Street Suite 503 Boston MA 02110 Campaign management services 330000 1 123010 12606 2738056 589651 2873672 Other income 611710 20265 20265 Contract income 611710 14860 14860 35125 575554 575554 55345129 55032425 312704 312704 312704 102500 123010 66533 35967 35967 25750 10000 15750 15750 3848772 35125 0 939975 1000 1000 922549 922549 150506 112879 15051 22576 316617 250967 31661 33989 58045 45786 5804 6455 34300 26754 3430 4116 8383 1800 6583 22600 22600 330000 330000 90721 90721 19138 11579 1185 6374 2268 2268 153553 137414 10664 5475 20463 16969 1996 1498 46052 39144 4605 2303 4277 2310 43 1924 5022 1843 144 3035 337 337 5746 4884 575 287 10117 8599 1012 506 2201694 1584945 191628 425121 100 100 2077327 2404107 1546303 1440193 10878 12392 6207 4187 447920 24734 10857 423186 27934048 27469393 1886495 109375 113542 31695095 33753595 67816 80865 2098240 2348309 418000 364915 109375 113542 13315 7519 2706746 2915150 X -880365 -739715 7346783 7599260 22521931 23978900 28988349 30838445 31695095 33753595 1647078 203018 0 X X 0 1 X 1 0 X 1717054 1813141 897870 4084918 2873672 11386655 1717054 1813141 897870 4084918 2873672 11386655 2701785 8684870 619763 598719 683043 1047287 575554 3524366 14911021 970624 0.58240 0.50710 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 29648679 1456969 1090609 595750 279000 90721 31230786 24735028 2988498 2853047 577750 262387 87757 29648679 22306770 322369 2762682 576045 80748 24735028 22931774 1149634 -1161325 535000 78313 22306770 19858930 1198816 2447385 482500 90857 22931774 0.00000 0.76780 0.23220 0 0 380000 380000 3430 29 3401 64490 24705 39785 423186 Pooled Investment Fund 1886495 F 1886495 X 4150142 203018 21819 76533 301370 3848772 0 3848772 2300046 21819 76533 98352 2201694 0 2201694 Part IV, Line 2b: Senator George J. Mitchell Scholarship Research Institute holds funds on behalf of another entity. Under the agreement with this entity, Mitchell Institute acts as an administrator for this scholarship fund. Part V, Line 4: Used for grants for tuition assistance/scholarships or other such purposes. Part X, Line 2: Mitchell Institute is exempt from federal and state income taxes under Section 501(c)(3) of the Internal Revenue Code. Accordingly, there is no provision for income taxes within the financial statements. Tax-exempt organizations could be required to record an obligation for income taxes as the result of a tax position they have historically taken on various tax exposure items including unrelated business income or tax status. Under guidance issued by the Financial Accounting Standards Board, assets and liabilities are established for uncertain tax positions taken or positions expected to be taken in income tax returns when such positions are judged to not meet the "more-likely-than-not" threshold, based upon the technical merits of the position. Estimated interest and penalties, if applicable, related to uncertain tax positions are included as a component of income tax expense. Mitchell Institute has evaluated the position taken on its filed tax returns. Mitchell Institute has not taken, nor does it expect to take any uncertain tax positions in any income tax return. The tax years from 2011 through 2014 are open to Internal Revenue Service or state examination. Part XI, Line 2d - Other Adjustments: Special Events Expenses 76,533. Part XII, Line 2d - Other Adjustments: Special Events Expenses 76,533. Europe (Including Iceland & Greenland) 0 0 Investments 1886495 0 0 0 0 0 0 1886495 0 1886495 1 0 0 0 0 0 X X X X 1 Community Counselling Service Co LLC 10 High Street Suite 503 Boston MA 02110 Capital Campaign Services 0 2325949 330000 1995949 2325949 330000 1995949 ME GALA 225510 123010 102500 50010 16194 225510 123010 102500 50010 16194 66204 36296 25750 10000 0 0.00000 25750 10000 10000 15750 ME 0 As a bona fide nonprofit, charitable organization in the State of Maine, the Institute is allowed to sponsor, operate, and conduct such a raffle without a license if the raffle revenue is used only for the exclusive benefit of the organization. The Institute has complied with this State provision and a license is therefore not required. 0 0 0 1.00000 Lisa Sirois 75 Washington Avenue Suite 2E Portland ME 04101 0 NA 0 The raffle is a closed raffle done at, and only at, the Institute's Gala event. For an additional donation or pledge of $250, one can complete an entry card and enter to win the raffle prize. A manager of this raffle activity is therefore not required. 0 Schedule G, Part I, Line 2b, Column (v) The Institute extended its contract with a professional fundraising firm, Community Counselling Service Co., LLC, to carry out a capital campaign. 1 Scholarships to one graduating senior from every public high school in Maine who will be attending a post-secondary degree program 140 922549 Part I, Line 2: Each year, the Institute awards a scholarship to a graduating senior from every public high school in Maine who will be attending a two-year or four-year post-secondary degree program. Scholarship funds are sent directly to the respective schools and credited to the student's tuition account after endorsement by both the school and the student. An agreement is signed by the student in the year awarded and verification is obtained from the school annually. X X 0 0 0 0 0 0 0 1 0 Meg Baxter President/Secretary 116008 0 17500 0 0 0 0 0 16998 0 150506 0 0 0 Part I, Line 7 The Organization provides performance-based variable compensation for certain officers which is subject to review annually. X 1 149058 Stock exchange price X Land 1 380000 Qualified Appraisal 0 0 1 Part I, Line 32b: The Institute sells donated publicly traded securities through its investment broker. Donations of these securities are sold as soon as administratively possible. The Institute has appointed a real estate broker/agent to assist in the sale of the donated land received in FYE 2014. Form 990, Part VI, Section B, line 11 Form 990 is reviewed by the staff accountant and President/CEO in conjunction with the audited financials. A copy of the final draft reviewed by the finance committee is distributed to the board of directors for review prior to filing. Form 990, Part VI, Section B, line 12c All officers, directors and key employees of Mitchell Institute are required to sign a disclosure statement annually. Form 990, Part VI, Section B, line 15 A report on employee compensation in 501(c) organizations in northern New England is obtained as available for comparability purposes. The executive committee reviews the President/CEO compensation. The President/CEO reviews the compensation of other employees. All compensation recommendations are approved by the board of directors. Form 990, Part VI, Section C, line 19 Mitchell Institute provides copies of its governing documents, conflict of interest statement, and financial statements upon request. Form 990, Part XII, Line 2c: The audit process has not changed from the prior year.