Is Maine Genealogical Society Legit?

The Maine Genealogical Society demonstrates consistent financial stability and a strong commitment to its mission. Over the past five years (2019-2023), the organization has maintained a healthy asset base, growing from $160,202 in 2019 to $199,741 in 2023. Revenue has also shown positive trends, with the latest reported revenue at $57,105 in 2023, up from $32,049 in 2020. The organization consistently reports 0% officer compensation, indicating that its leadership is likely volunteer-based, which is a positive sign for donor confidence and efficient use of funds. Spending efficiency appears to be very high, as evidenced by the lack of reported officer compensation and the relatively low liabilities across all filing periods. For instance, in 2023, liabilities were only $80, a negligible amount compared to assets of $199,741. This suggests sound financial management and a focus on direct program delivery rather than administrative overhead or executive salaries. The organization's consistent net positive revenue in recent years (e.g., $57,105 revenue vs. $51,795 expenses in 2023) allows for asset growth and sustained operations. Transparency is excellent, particularly regarding executive compensation, which is clearly stated as 0% across all available filings. The consistent filing of IRS Form 990s over 13 periods further underscores their commitment to public accountability. While a detailed breakdown of program vs. administrative expenses isn't explicitly provided in the summary data, the absence of paid officers strongly implies that the vast majority of expenses are directed towards their genealogical programs and services.