The Business of Mainspring
Mainspring is a community institution, and it’s important to us that we are transparent about the work that we do and the financials that go into it. To that end, we’d like to share a high-level overview of the projected income and expenses in our 2021-22 fiscal year, which began on September 1, 2021.
INCOME
Decades ago, the pie chart below would have shown that the vast majority of Mainspring’s revenue was made up of child tuition subsidies from the Texas Workforce Commission. We have worked hard to diversify our income to both increase available funds and mitigate the loss of any single source. That includes allowing some full tuition families to attend Mainspring, developing a pre-K partnership with Austin ISD, adding Early Head Start funding and building out a proper fundraising program.
EXPENSES
We are a people organization, and attracting and retaining good teachers, social workers and other staff members is critical to the respected work that we do with our children, families, partners and community supporters. As a result, we prioritize taking care of our staff as much as possible, which is why 83.2% of our expenses go toward compensation.
THE INVESTMENT IN HIGH QUALITY
With an overall budget of $2,257,849, Mainspring invests $1,946 in each child every month, or $101 per day per child.
More than 75% of our students receive need-based tuition subsidies or scholarships, but state and federal reimbursements through programs like Early Head Start and the Texas Workforce Commission cover less than half of that amount.
We raise more and spend more so that we can deliver high-quality teaching, trauma-informed care, child nutrition and wrap-around family services because we know that those build a truly solid foundation for success in school and life. And the numbers don't lie: In 2021, 94% of Mainspring's graduating 5-year-olds entered kindergarten at or above Texas' school readiness standards. The statewide average hovers at just 30-45% for low-income children.
If you ever have questions or ideas about how Mainspring operates financially, please don’t hesitate to reach out to Jason Gindele (Executive Director) or Colin Swanson (Business Manager). We are always looking for ways to improve!
