Quick charity verification for Maine Development Foundation (EIN: 10355563)
Verdict: Maine Development Foundation appears trustworthy
75/100Mission Score
$3.0MRevenue
$970KAssets
2Red Flags
3Strengths
Red Flags
Frequent annual expenses exceeding revenue, as seen in 202312 ($3,361,150 expenses vs. $3,160,300 revenue).
Consistent 0% officer compensation reported, which is atypical for an organization of this size and warrants further investigation into how leadership is compensated.
Strengths
Consistent revenue growth over the past decade, from $1,085,481 in 201512 to $3,160,300 in 202312.
Long history of operations with 13 IRS 990 filings, indicating stability and compliance.
Strong asset base, with assets reaching $1,176,862 in the latest period, providing some financial cushion.
Spending Breakdown
How Maine Development Foundation allocates its funds across programs, administration, and fundraising.
80%
Program Spending
Healthy — majority goes to mission
15%
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 Maine Development Foundation
Is Maine Development Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Maine Development Foundation (EIN: 10355563) appears trustworthy. Mission Score: 75/100. 2 red flags identified, 3 strengths noted.
Is Maine Development Foundation a good charity to donate to?
Maine Development Foundation has a Mission Score of 75/100. Revenue: $3.0M. Assets: $970K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Maine Development Foundation?
The Employer Identification Number (EIN) for Maine Development Foundation is 10355563. 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 Development Foundation spend its money?
Maine Development Foundation allocates 80% to programs, 15% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Maine Development Foundation's tax-exempt status?
You can verify Maine Development Foundation's tax-exempt status using EIN 10355563 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 Development Foundation demonstrates a consistent operational history with revenues generally increasing over the past decade, reaching $3,160,300 in the latest filing period (202312). While the organization reported expenses exceeding revenue in several periods, including the most recent ($3,361,150 in expenses vs. $3,160,300 in revenue for 202312), this is not uncommon for organizations managing grants or project-based funding cycles. The organization's assets have fluctuated, with a notable increase to $1,919,051 in 202212 before decreasing to $1,176,862 in 202312, while liabilities have also seen significant changes. A key aspect of its financial health is the consistent reporting of 0% officer compensation across all available filings, which suggests either a volunteer leadership structure or that compensation is reported under other expense categories, warranting further investigation for full transparency. The organization's NTEE code S30Z (Economic Development) aligns with its mission, and the consistent filing of IRS Form 990s indicates a commitment to regulatory compliance.