AI Transparency Report
The Maine Aquaculture Association demonstrates consistent financial health and growth over the past decade. Revenue has steadily increased from $212,631 in 2014 to $759,753 in 2023, indicating strong fundraising or program support. The organization has also built up substantial assets, growing from $84,497 in 2014 to $1,364,150 in 2023, providing a solid financial foundation. Their liabilities remain very low, consistently under $30,000, which is a positive indicator of fiscal responsibility.
Spending efficiency appears strong, with expenses generally well below revenue, allowing for asset accumulation. For instance, in 2023, expenses were $676,815 against revenues of $759,753. The organization's commitment to transparency is high, as evidenced by 13 consistent IRS 990 filings and a clear record of no officer compensation reported across all available filings, suggesting that leadership is either volunteer-based or compensated through other means not classified as officer compensation, which is a notable point for a nonprofit of this size. This practice, if sustained, can free up more funds for programmatic activities.
Overall, the Maine Aquaculture Association appears to be a well-managed and financially stable organization with a clear growth trajectory and a strong commitment to transparency regarding executive compensation. Their consistent asset growth and low liabilities further reinforce their sound financial management.