Quick charity verification for Biotechnology Association Of Maine (EIN: 10500056)
Verdict: Biotechnology Association Of Maine appears trustworthy
90/100Mission Score
$1.2MRevenue
$1.7MAssets
0Red Flags
5Strengths
No red flags identified.
Strengths
Consistent revenue growth, from $100,242 in 2017 to $677,614 in 2024.
Significant asset accumulation, reaching $1,590,602 in 2024.
No reported officer compensation across all filings, indicating high efficiency.
Low liabilities relative to assets, demonstrating strong financial health.
Consistent operation with a surplus, with expenses generally lower than revenue.
Spending Breakdown
How Biotechnology Association Of Maine allocates its funds across programs, administration, and fundraising.
85%
Program Spending
Healthy — majority goes to mission
10%
Admin Costs
Reasonable — admin costs in check
5%
Fundraising
Within typical range
How to read this: Well-run charities typically spend 75% or more on programs, keep admin under 25%, and fundraising under 15%. A high program ratio means more of every dollar goes directly to the mission.
How to Interpret This Report
What Red Flags Mean
Red flags are potential warning signs identified by AI analysis of IRS 990 filings. They may indicate issues like declining revenue, high executive pay relative to program spending, lack of transparency, or governance concerns. A single red flag does not necessarily mean an organization is untrustworthy, but multiple flags warrant further investigation before donating.
What Mission Score Measures
The Mission Score (0-100) evaluates how effectively a nonprofit fulfills its stated purpose. It combines multiple factors: program spending efficiency (how much goes to programs vs. overhead), financial health and sustainability, governance quality, transparency in reporting, and consistency of operations over time. A score of 70+ indicates strong alignment with the organization’s mission.
Using This Data for Donation Decisions
Use this report as one input in your decision. Look at the overall Mission Score for a quick assessment, review red flags and strengths for specific concerns, check the spending breakdown to see where money goes, and compare executive compensation to the organization’s size. Consider viewing the full transparency report for deeper analysis, and always verify tax-exempt status with the IRS before making large donations.
Frequently Asked Questions about Biotechnology Association Of Maine
Is Biotechnology Association Of Maine a legitimate charity?
Based on AI analysis of IRS 990 filings, Biotechnology Association Of Maine (EIN: 10500056) appears trustworthy. Mission Score: 90/100. 0 red flags identified, 5 strengths noted.
Is Biotechnology Association Of Maine a good charity to donate to?
Biotechnology Association Of Maine has a Mission Score of 90/100. Revenue: $1.2M. Assets: $1.7M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Biotechnology Association Of Maine?
The Employer Identification Number (EIN) for Biotechnology Association Of Maine is 10500056. This is the unique tax ID assigned by the IRS.
What is a Mission Score?
The Mission Score is a 0-100 rating that measures how effectively a nonprofit fulfills its stated mission. It factors in program spending efficiency, financial transparency, governance practices, and outcome reporting. Scores above 70 indicate strong mission alignment, 40-69 suggest mixed performance, and below 40 signals potential concerns.
How does Biotechnology Association Of Maine spend its money?
Biotechnology Association Of Maine allocates 85% to programs, 10% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Biotechnology Association Of Maine's tax-exempt status?
You can verify Biotechnology Association Of Maine's tax-exempt status using EIN 10500056 on the IRS Tax Exempt Organization Search (TEOS) at apps.irs.gov/app/eos. You can also request copies of their Form 990 directly from the organization, as they are required by law to provide them upon request.
AI Transparency Report
The Biotechnology Association Of Maine demonstrates a consistent pattern of financial growth and strong asset accumulation over the past several years. Revenue has steadily increased from $100,242 in 2017 to $677,614 in 2024, with total assets growing from $115,309 to $1,590,602 in the same period. This indicates effective fundraising and financial management. The organization consistently operates with a surplus, as seen by expenses being significantly lower than revenue in most periods, for example, $606,228 in expenses against $677,614 in revenue in 2024.
The organization's spending efficiency appears robust, with no officer compensation reported across all filings, suggesting that leadership is either volunteer-based or compensated through other means not categorized as officer compensation on the 990, which is a positive indicator for donor confidence. Liabilities remain very low relative to assets, peaking at $60,143 in 2024 against $1,590,602 in assets, indicating strong financial stability and minimal debt burden. The consistent growth in assets also suggests a healthy reserve fund.
While specific program spending percentages are not detailed in the provided data, the overall financial health, consistent growth, and lack of reported officer compensation point towards a well-managed and potentially efficient organization. The consistent filing of IRS Form 990s over eight periods also demonstrates a commitment to transparency.