Closing Maine girls’ school was in dire financial shape
PORTLAND, Maine (AP) — Federal financial forms show a soon-closing school for girls in Maine was in a dire financial situation.
Maine Girls’ Academy officials have said the school’s closing due to money woes and falling enrollment. Supporters have come forward to try to keep the school open, but school officials have repeated the school will close.
The Portland Press Herald reports a financial disclosure form covering July 2016 to July 2017 showed the school had about $1.6 million in assets while spending about $2.74 million. The forms say the school received about $2.69 million during that time, including tuition.
School officials didn’t respond to a request for comment from the Press Herald. They’ve said the school’s not currently in debt, but they expected a funding gap of $250,000 if they operated next year.