Quick charity verification for Maine Bankers Association (EIN: 10155360)
Verdict: Maine Bankers Association appears trustworthy
75/100Mission Score
$2.8MRevenue
$2.2MAssets
2Red Flags
4Strengths
Red Flags
Consistent 0% officer compensation reported, which is unusual for an organization of this size and revenue, potentially obscuring executive pay details.
NTEE Code is unknown, which limits the ability to compare financial performance against peer organizations in the same sector.
Strengths
Consistent revenue generation, averaging over $2.7 million annually over the past decade.
Stable financial health with assets consistently exceeding liabilities, improving from a liability-heavy position in earlier years.
Lean operations with expenses closely matching revenues, indicating efficient use of funds and minimal accumulation of excessive reserves.
Positive trend in net assets, demonstrating financial growth and stability over time.
Spending Breakdown
How Maine Bankers Association allocates its funds across programs, administration, and fundraising.
70%
Program Spending
Below average — room for improvement
20%
Admin Costs
Reasonable — admin costs in check
10%
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 Maine Bankers Association
Is Maine Bankers Association a legitimate charity?
Based on AI analysis of IRS 990 filings, Maine Bankers Association (EIN: 10155360) appears trustworthy. Mission Score: 75/100. 2 red flags identified, 4 strengths noted.
Is Maine Bankers Association a good charity to donate to?
Maine Bankers Association has a Mission Score of 75/100. Revenue: $2.8M. Assets: $2.2M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Maine Bankers Association?
The Employer Identification Number (EIN) for Maine Bankers Association is 10155360. 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 Maine Bankers Association spend its money?
Maine Bankers Association allocates 70% to programs, 20% to administration, and 10% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Maine Bankers Association's tax-exempt status?
You can verify Maine Bankers Association's tax-exempt status using EIN 10155360 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 Maine Bankers Association demonstrates consistent financial activity, with revenues and expenses closely matched over the past decade. For instance, in 2023, revenues were $2,703,164 against expenses of $2,652,067, indicating a lean operational model with minimal surplus. The organization's assets have shown a gradual increase, from $1,575,665 in 2014 to $2,211,432 in 2023, suggesting sound financial management and accumulation of reserves. Liabilities have fluctuated but generally decreased from a high of $2,137,838 in 2014 to $1,474,550 in 2023, improving its financial stability.
While specific program spending details are not provided in the summary data, the consistent revenue and expense figures suggest that the organization is effectively utilizing its income to cover its operational costs. The absence of reported officer compensation across all filings indicates a potential for high transparency regarding executive pay, or that compensation is structured differently and not reported under 'Officer Comp' on the 990 summary. Further investigation into the full 990 forms would be necessary to fully assess spending efficiency and the allocation of funds across programs, administration, and fundraising.