Thomas College
180 W River Rd, Waterville, ME · IRS data through FY2025
Revenue, expenses and net assets
Revenue Expenses Net assets
| Tax year | Revenue | Expenses | Net assets |
|---|---|---|---|
| FY2025 | $41,372,529 | $40,499,639 | $71,976,626 |
| FY2024 | $39,971,757 | $38,938,070 | $69,839,546 |
| FY2023 | $34,736,562 | $35,230,449 | $66,958,510 |
| FY2022 | $31,052,244 | $31,047,245 | $66,129,054 |
| FY2021 | $38,748,882 | $34,085,900 | $69,415,319 |
| FY2020 | $32,333,664 | $29,684,945 | $60,571,858 |
| FY2019 | $33,288,156 | $30,184,307 | $58,030,193 |
| FY2018 | $33,559,666 | $29,645,063 | $54,758,347 |
| FY2017 | $32,462,565 | $30,468,378 | $49,873,168 |
| FY2016 | $29,078,992 | $28,835,512 | $47,010,301 |
| FY2015 | $28,858,290 | $25,712,587 | $47,962,063 |
| FY2014 | $28,388,639 | $24,916,109 | $45,831,128 |
| FY2013 | $26,350,683 | $22,886,936 | $40,959,903 |
| FY2012 | $23,499,716 | $21,555,345 | $36,739,895 |
Form 990 filings
The returns filed by Thomas College (EIN 01-0263385), including Form 990 PDFs and e-file data by year, are available in ProPublica's Nonprofit Explorer. The figures on this page come from IRS data files built from those returns.
Where the revenue came from
| Source | Amount | % of revenue |
|---|---|---|
| Contributions & grants | $8,419,709 | 20% |
| Program service revenue | $29,784,924 | 72% |
| Other revenue | $3,167,896 | 8% |
Where the money was spent
| Category | Amount | % of expenses |
|---|---|---|
| Program services | $36,007,681 | 89% |
| Management & general | $3,551,009 | 9% |
| Fundraising | $940,949 | 2% |
What the numbers show
- Program service revenue made up 72% of total revenue in FY2025.
- Program services accounted for 89% of functional expenses, management & general 9%, and fundraising 2%.
- 89% of functional expenses went to program services in FY2025. That is higher than 79.3% of 29 Education organizations in ME.
- Net assets covered about 21.3 months of expenses at the end of the reporting year. That puts it in the 45th percentile among 349 Education organizations in ME.
- Total revenue was higher than 97.7% of 351 Education organizations in ME.
- Total revenue rose from $23,499,716 in FY2012 to $41,372,529 in FY2025. Revenue increased in 10 and decreased in 3 of 13 year-over-year comparisons.
- Expenses exceeded revenue in 1 of 14 reported years (FY2023).
- Net assets grew from $36,739,895 to $71,976,626 between FY2012 and FY2025.
- Contributions and grants made up 9% of revenue in FY2012 and 20% in FY2025.
- Listed in the IRS Publication 78 data as eligible to receive tax-deductible contributions (public charity).
Figures compared against other organizations of the same NTEE program area in the same state. See the methodology page for how these are calculated and the guide to reading nonprofit financials for their limits.
About this organization
THOMAS COLLEGE PREPARES STUDENTS FOR SUCCESS IN THEIR PERSONAL AND PROFESSIONAL LIVES, AND FOR LEADERSHIP AND SERVICE IN THEIR COMMUNITIES. THOMAS PROVIDES A SUPPORTIVE LEARNING ENVIRONMENT THAT VALUES THE NEEDS AND GOALS OF INDIVIDUAL STUDENTS.
IRS status
| Ruling year | 1960 |
| Subsection | 501(c)(3) |
| Classification | Public charity |
| Program area (NTEE) | B420 — Education (in ME) |
| Donations | Listed in the IRS Publication 78 data as eligible to receive tax-deductible contributions (public charity). |
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Source: Internal Revenue Service — Exempt Organizations Business Master File (downloaded November 4, 2026), Statistics of Income extracts, Form 990 e-file data, Publication 78 and the Automatic Revocation list. Figures are as reported by the organization; IRS processing may adjust them. This is not a charity rating and not tax advice. Confirm deductibility in IRS Tax Exempt Organization Search.
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