Is Maine Life Care Retirement Community Inc Legit?
Quick charity verification for Maine Life Care Retirement Community Inc (EIN: 10496258)
Verdict: Maine Life Care Retirement Community Inc shows mixed signals
65/100Mission Score
$38.7MRevenue
$190.6MAssets
2Red Flags
3Strengths
Red Flags
Liabilities consistently exceed assets (e.g., $194.2M liabilities vs $178M assets in 2023), indicating potential financial risk or heavy reliance on debt.
0% officer compensation reported across all filings, which is highly unusual for an organization of this scale and may indicate a lack of transparency in executive pay disclosure.
Strengths
Consistent revenue generation, with latest revenue at $38.7 million, demonstrating operational stability.
Significant asset growth from $94.3 million in 2014 to $178 million in 2023, indicating expansion or strong investment.
Generally stable operations with expenses closely managed relative to revenue over the past decade.
Spending Breakdown
How Maine Life Care Retirement Community Inc allocates its funds across programs, administration, and fundraising.
85%
Program Spending
Healthy — majority goes to mission
10%
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 Life Care Retirement Community Inc
Is Maine Life Care Retirement Community Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Maine Life Care Retirement Community Inc (EIN: 10496258) shows mixed signals. Mission Score: 65/100. 2 red flags identified, 3 strengths noted.
Is Maine Life Care Retirement Community Inc a good charity to donate to?
Maine Life Care Retirement Community Inc has a Mission Score of 65/100. Revenue: $38.7M. Assets: $190.6M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Maine Life Care Retirement Community Inc?
The Employer Identification Number (EIN) for Maine Life Care Retirement Community Inc is 10496258. 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 Life Care Retirement Community Inc spend its money?
Maine Life Care Retirement Community Inc allocates 85% to programs, 10% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Maine Life Care Retirement Community Inc's tax-exempt status?
You can verify Maine Life Care Retirement Community Inc's tax-exempt status using EIN 10496258 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 Life Care Retirement Community Inc. demonstrates a consistent operational history, with revenues generally exceeding or closely matching expenses over the past decade. The organization's assets have shown substantial growth, increasing from $94.3 million in 2014 to $178 million in 2023, indicating significant expansion or investment in its facilities. However, a notable concern is the organization's liabilities, which have consistently exceeded its assets, reaching $194.2 million against $178 million in assets in 2023. This suggests a reliance on debt financing, which could impact long-term financial stability if not managed effectively.
Regarding spending efficiency, without a detailed breakdown of program, administrative, and fundraising expenses, it's challenging to fully assess. However, the consistent operational expenses relative to revenue suggest a stable cost structure. The organization reports 0% officer compensation across all filings, which is unusual for an organization of this size and could indicate that executive compensation is reported under other expense categories or that the organization relies heavily on volunteer leadership or a different compensation structure. This lack of explicit officer compensation reporting could be a transparency concern.
Overall, while the organization shows growth in assets and generally manages to cover its expenses, the high level of liabilities relative to assets warrants closer scrutiny. The absence of reported officer compensation also raises questions about the completeness of financial disclosures in this specific area.