Is Maine Lakes Society Legit?

Strengths

0% Officer Compensation: No executive compensation reported across all filings, indicating high efficiency and dedication of funds to mission.
Growing Assets: Assets have consistently grown, from $32,083 in 2016 to $213,113 in 2023, demonstrating financial stability and capacity.
Low Liabilities: Liabilities remain consistently low (e.g., $8,871 in 2023), indicating strong financial management and minimal debt.
Consistent Filing History: A long history of 13 IRS 990 filings shows transparency and compliance.
Stable Financial Operations: Revenues and expenses are generally in balance, indicating sustainable operations.

Spending Breakdown

How Maine Lakes Society 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 Lakes Society

Is Maine Lakes Society a legitimate charity?

Based on AI analysis of IRS 990 filings, Maine Lakes Society (EIN: 10322800) appears trustworthy. Mission Score: 90/100. 0 red flags identified, 5 strengths noted.

Is Maine Lakes Society a good charity to donate to?

Maine Lakes Society has a Mission Score of 90/100. Revenue: $336K. Assets: $264K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.

What is the EIN for Maine Lakes Society?

The Employer Identification Number (EIN) for Maine Lakes Society is 10322800. 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 Lakes Society spend its money?

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

How can I verify Maine Lakes Society's tax-exempt status?

You can verify Maine Lakes Society's tax-exempt status using EIN 10322800 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 Lakes Society demonstrates consistent financial activity, with revenues and expenses generally in balance over the past decade. In the most recent filing (202312), the organization reported revenues of $284,640 against expenses of $285,185, indicating a slight operational deficit. Assets have shown a positive trend, growing from $32,083 in 2016 to $213,113 in 2023, suggesting prudent financial management and accumulation of resources. The organization's liabilities remain low, at $8,871 in 2023, which is a positive indicator of financial stability.

The organization's spending efficiency appears strong, particularly given that 0% of its expenses are allocated to officer compensation across all reported periods. This suggests that resources are primarily directed towards programmatic activities and operational costs rather than executive salaries. While specific program spending ratios are not detailed in the provided data, the absence of executive compensation is a significant positive for efficiency.

Transparency is high, as evidenced by the consistent filing of IRS Form 990s and the clear reporting of financial metrics. The organization's commitment to its mission is further supported by its stable asset growth and low liabilities, which provide a solid foundation for future operations. Overall, the Maine Lakes Society appears to be a financially healthy and efficiently run nonprofit.

Verdict: Maine Lakes Society appears trustworthy