Quick charity verification for Eastern Maine Electric Cooperative Inc (EIN: 10056837)
Verdict: Eastern Maine Electric Cooperative Inc appears trustworthy
85/100Mission Score
$18.4MRevenue
$54.8MAssets
1Red Flags
3Strengths
Red Flags
Consistent 0% officer compensation reported, which is atypical for an organization of this revenue size and may obscure actual executive remuneration.
Strengths
Consistent break-even operations, indicating efficient cost management and a focus on member service rather than profit.
Steady growth in assets from $39,234,376 in 2014 to $53,940,615 in 2023, demonstrating financial stability and investment.
No reported fundraising expenses, suggesting that the cooperative model relies on member contributions or service fees rather than public donations.
AI Transparency Report
Eastern Maine Electric Cooperative Inc consistently reports revenue equal to expenses across all available filings, indicating a break-even operational model typical for a cooperative. This suggests that the organization is effectively managing its finances to cover its costs without accumulating significant surpluses or deficits. The organization's assets have shown steady growth, increasing from $39,234,376 in 2014 to $53,940,615 in 2023, demonstrating financial stability and likely investment in infrastructure or operational improvements. Liabilities have also increased proportionally, which is expected as assets grow, maintaining a consistent debt-to-asset ratio. The consistent reporting of 0% officer compensation across all periods is a notable aspect of its financial management, suggesting that executive leadership may be compensated through other means not captured in this specific line item, or that the cooperative structure minimizes traditional executive compensation.