Quick charity verification for Gulf Of Maine Lobster Foundation Inc (EIN: 10535494)
Verdict: Gulf Of Maine Lobster Foundation Inc appears trustworthy
88/100Mission Score
$1.3MRevenue
$262KAssets
1Red Flags
4Strengths
Red Flags
Consistent 0% officer compensation reported, which is unusual for an organization of this size and could indicate compensation is reported under other categories or a heavy reliance on unpaid leadership, warranting further inquiry.
Strengths
Consistent revenue growth, from $315,417 in 2015 to $972,485 in 2023, indicating increasing support and activity.
Tight operating margins, with expenses closely matching revenue (e.g., $960,199 expenses vs. $972,485 revenue in 2023), suggesting efficient use of funds.
No reported officer compensation across all filings, indicating a strong commitment to directing funds towards the mission.
Healthy asset growth, from $82,398 in 2015 to $151,891 in 2023, while maintaining relatively low liabilities.
Spending Breakdown
How Gulf Of Maine Lobster Foundation Inc 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 Gulf Of Maine Lobster Foundation Inc
Is Gulf Of Maine Lobster Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Gulf Of Maine Lobster Foundation Inc (EIN: 10535494) appears trustworthy. Mission Score: 88/100. 1 red flag identified, 4 strengths noted.
Is Gulf Of Maine Lobster Foundation Inc a good charity to donate to?
Gulf Of Maine Lobster Foundation Inc has a Mission Score of 88/100. Revenue: $1.3M. Assets: $262K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Gulf Of Maine Lobster Foundation Inc?
The Employer Identification Number (EIN) for Gulf Of Maine Lobster Foundation Inc is 10535494. 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 Gulf Of Maine Lobster Foundation Inc spend its money?
Gulf Of Maine Lobster Foundation Inc allocates 85% to programs, 10% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Gulf Of Maine Lobster Foundation Inc's tax-exempt status?
You can verify Gulf Of Maine Lobster Foundation Inc's tax-exempt status using EIN 10535494 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 Gulf Of Maine Lobster Foundation Inc demonstrates consistent growth in revenue and expenses over the past decade, with its latest reported revenue at $972,485 in 2023, a significant increase from $315,417 in 2015. The organization consistently operates with very tight margins, as evidenced by expenses closely tracking revenue in most years (e.g., $960,199 expenses against $972,485 revenue in 2023). This indicates efficient use of funds, with little left over, which can be a sign of effective program delivery but also limited capacity for building reserves. The organization's assets have also grown, reaching $151,891 in 2023, though liabilities remain relatively low, suggesting a healthy balance sheet.
The organization's financial health appears stable, with a clear upward trend in activity. The consistent reporting of 0% officer compensation across all filings is a strong indicator of transparency and a commitment to directing funds towards its mission rather than executive salaries. This practice, while commendable, could also suggest a reliance on volunteer leadership or that compensation is reported under other categories, which would warrant further investigation for complete transparency. Overall, the financial data suggests a well-managed organization focused on its programmatic goals.