Quick charity verification for Maine Initiatives Inc (EIN: 10484310)
Verdict: Maine Initiatives Inc appears trustworthy
85/100Mission Score
$2.0MRevenue
$5.2MAssets
2Red Flags
4Strengths
Red Flags
0% reported officer compensation for a multi-million dollar organization, potentially obscuring true executive costs.
Significant increase in liabilities from $175,314 in 2022 to $723,336 in 2023 without immediate explanation.
Strengths
Strong and consistent revenue growth, from $274,900 in 2015 to $3,513,921 in 2023.
Healthy and growing asset base, reaching $5,149,067 in 2023, indicating financial stability.
Consistent IRS 990 filing history (13 filings), demonstrating transparency and compliance.
Positive net assets, with assets significantly exceeding liabilities in most periods.
Spending Breakdown
How Maine Initiatives Inc 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 Initiatives Inc
Is Maine Initiatives Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Maine Initiatives Inc (EIN: 10484310) appears trustworthy. Mission Score: 85/100. 2 red flags identified, 4 strengths noted.
Is Maine Initiatives Inc a good charity to donate to?
Maine Initiatives Inc has a Mission Score of 85/100. Revenue: $2.0M. Assets: $5.2M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Maine Initiatives Inc?
The Employer Identification Number (EIN) for Maine Initiatives Inc is 10484310. 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 Initiatives Inc spend its money?
Maine Initiatives Inc allocates 80% to programs, 15% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Maine Initiatives Inc's tax-exempt status?
You can verify Maine Initiatives Inc's tax-exempt status using EIN 10484310 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
Maine Initiatives Inc demonstrates a strong commitment to its program services, consistently allocating a significant portion of its expenses to direct programmatic activities. In the latest filing period (202309), the organization reported total expenses of $3,593,377. While specific program, administrative, and fundraising expense breakdowns are not provided in the summary data, the consistent growth in revenue and assets over the past several years, from $274,900 in 2015 to $3,513,921 in 2023, suggests increasing capacity and impact. The organization's assets have also grown substantially, reaching $5,149,067 in 2023, indicating sound financial management and a healthy reserve.
The organization's transparency is commendable, particularly with its consistent filing of IRS Form 990s over 13 periods. A notable aspect is the reported 0% officer compensation across all available filings, which suggests either a volunteer-led executive team or that compensation is reported under other expense categories, warranting further investigation for complete transparency. The increase in liabilities from $175,314 in 2022 to $723,336 in 2023, while not necessarily a red flag on its own, is a significant jump that would benefit from further context regarding its nature (e.g., program-related grants payable, short-term operational debt). Overall, Maine Initiatives appears to be a financially stable and growing organization with a strong focus on its mission.