Is Maine Coast Fishermens Association…

Quick charity verification for Maine Coast Fishermens Association (EIN: 134337702)

Strengths

Exceptional revenue growth over the past decade, from $200,730 in 2014 to $2,922,167 in 2023.
Strong asset accumulation, with assets growing from $221,801 in 2014 to $3,521,349 in 2023.
Consistent reporting of 0% officer compensation, suggesting a high dedication of funds to programmatic activities.
Healthy financial surpluses, with revenue consistently exceeding expenses (e.g., $2,922,167 revenue vs. $1,820,024 expenses in 2023).
Low liabilities relative to assets, indicating strong financial health and low debt burden.

Spending Breakdown

How Maine Coast Fishermens Association allocates its funds across programs, administration, and fundraising.

85%

Program Spending

Healthy — majority goes to mission

10%

Admin Costs

Reasonable — admin costs in check

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 Coast Fishermens Association

Is Maine Coast Fishermens Association a legitimate charity?

Based on AI analysis of IRS 990 filings, Maine Coast Fishermens Association (EIN: 134337702) appears trustworthy. Mission Score: 95/100. 1 red flag identified, 5 strengths noted.

Is Maine Coast Fishermens Association a good charity to donate to?

Maine Coast Fishermens Association has a Mission Score of 95/100. Revenue: $3.5M. Assets: $4.5M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.

What is the EIN for Maine Coast Fishermens Association?

The Employer Identification Number (EIN) for Maine Coast Fishermens Association is 134337702. 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 Coast Fishermens Association spend its money?

Maine Coast Fishermens Association allocates 85% to programs, 10% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.

How can I verify Maine Coast Fishermens Association's tax-exempt status?

You can verify Maine Coast Fishermens Association's tax-exempt status using EIN 134337702 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 Coast Fishermens Association demonstrates strong financial health and growth, with its latest reported revenue at $3,510,251 and assets at $4,473,218. Over the past decade, the organization has shown consistent revenue growth, notably increasing from $200,730 in 2014 to $2,922,167 in 2023. This growth is accompanied by a healthy asset base that has expanded significantly, indicating effective financial management and capacity building. The organization's liabilities remain relatively low compared to its assets, suggesting a stable financial position.

The organization appears to be highly efficient in its spending, with expenses consistently lower than revenue, allowing for asset accumulation. For instance, in 2023, revenue was $2,922,167 against expenses of $1,820,024, resulting in a substantial surplus. The consistent reporting of 0% officer compensation across all available filings suggests a commitment to directing funds towards its mission rather than executive salaries, which is a strong indicator of financial transparency and good governance. This practice enhances donor confidence and reflects a mission-first approach.

Overall, the Maine Coast Fishermens Association exhibits robust financial management, impressive growth, and a clear dedication to its mission through efficient resource allocation and transparent compensation practices. The consistent surpluses and asset growth position it well for sustained impact in the future.

Is Maine Coast Fishermens Association Legit?

Verdict: Maine Coast Fishermens Association appears trustworthy

Red Flags