Quick charity verification for Eastern Maine Development Corporation (EIN: 10281875)
Verdict: Eastern Maine Development Corporation appears trustworthy
92/100Mission Score
$10.5MRevenue
$11.8MAssets
1Red Flags
4Strengths
Red Flags
Significant revenue volatility, with a peak of $64.6M in 202109 and a drop to $6.4M in 202309, could indicate reliance on non-recurring funding sources.
Strengths
Consistent asset growth from $8.4M in 2015 to $11.7M in 2023, indicating financial stability.
Zero officer compensation reported across all 13 filings, demonstrating a strong commitment to mission-focused spending.
Expenses generally track revenue, suggesting efficient use of funds as they become available.
Liabilities remain a relatively small portion of total assets, indicating good financial health and low debt burden.
Spending Breakdown
How Eastern Maine Development Corporation allocates its funds across programs, administration, and fundraising.
90%
Program Spending
Healthy — majority goes to mission
7%
Admin Costs
Reasonable — admin costs in check
3%
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 Eastern Maine Development Corporation
Is Eastern Maine Development Corporation a legitimate charity?
Based on AI analysis of IRS 990 filings, Eastern Maine Development Corporation (EIN: 10281875) appears trustworthy. Mission Score: 92/100. 1 red flag identified, 4 strengths noted.
Is Eastern Maine Development Corporation a good charity to donate to?
Eastern Maine Development Corporation has a Mission Score of 92/100. Revenue: $10.5M. Assets: $11.8M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Eastern Maine Development Corporation?
The Employer Identification Number (EIN) for Eastern Maine Development Corporation is 10281875. 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 Eastern Maine Development Corporation spend its money?
Eastern Maine Development Corporation allocates 90% to programs, 7% to administration, and 3% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Eastern Maine Development Corporation's tax-exempt status?
You can verify Eastern Maine Development Corporation's tax-exempt status using EIN 10281875 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
Eastern Maine Development Corporation demonstrates a generally stable financial position with consistent asset growth over the past decade, reaching $11,762,497 in the latest filing. The organization's revenue has shown significant fluctuations, notably a spike to $64,676,194 in 202109, which then normalized to $6,477,472 in 202309. This volatility suggests reliance on specific grants or projects that can dramatically impact annual income. Despite these swings, expenses have largely tracked revenue, indicating a commitment to spending funds as they are received for program delivery.
The organization's spending efficiency appears strong, with a consistent pattern of expenses closely aligning with revenue, and liabilities remaining a relatively small portion of total assets. The absence of reported officer compensation across all available filings is a significant indicator of financial transparency and a strong focus on directing resources towards the mission rather than executive salaries. This practice, combined with a healthy asset base, suggests a well-managed and fiscally responsible operation.
Overall, Eastern Maine Development Corporation exhibits good financial health and strong spending efficiency. The consistent zero officer compensation across all filings is a notable strength in transparency and resource allocation. While revenue can be volatile, the organization has managed its expenses effectively to maintain a stable financial footing.