The Business of Mainspring: 2022-23 Fiscal Year

Mainspring turns 81 years old next month. To be one of the oldest nonprofits in Texas, it requires a community to prioritize this mission and encourage the work, year after year. That community is you.

Part of running a community institution is transparency, so as we have done in the past, we want to share how we operate as a business. Below is a summary of our 2022-23 fiscal year budget, which began on September 1, 2022.

INCOME

Mainspring works hard to diversify its income to ensure that if any one source goes away — our in-person fundraising event was canceled when the pandemic began, for example — our work can continue. That means welcoming some full tuition families to attend Mainspring, developing a pre-K partnership with Austin ISD, adding Early Head Start funding and building out a robust fundraising program.

EXPENSES

As always, we are a people organization, and attracting and retaining good teachers, social workers and other team members is critical to the high-impact work that we do with our children and families. As a result, we prioritize taking care of our team as much as possible, which is why 80.9% of our expenses go toward compensation.

THE INVESTMENT IN HIGH QUALITY

With an overall budget of $2,713,245, Mainspring invests $2,232 in each child every month, or $114 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.

Our community supporters provide funds 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. Unlike many corporations, we view spending more (on the right things) as an accomplishment.

And as a testament to that approach, here is another accomplishment: In 2022, 100% 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 (Managing Director). We are always looking for ways to improve!