Quick charity verification for Maine Lobstermens Association Inc (EIN: 10455701)
Verdict: Maine Lobstermens Association Inc appears trustworthy
85/100Mission Score
$938KRevenue
$1.3MAssets
1Red Flags
3Strengths
Red Flags
Significant year-over-year revenue volatility (nearly 50% drop from 2022 to 2023)
Strengths
Zero officer compensation reported, indicating high efficiency in leadership costs.
Consistent positive net income (revenue exceeding expenses) in both reported periods.
Growing asset base, from $1,075,538 in 2022 to $1,113,891 in 2023.
Spending Breakdown
How Maine Lobstermens Association 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 Lobstermens Association Inc
Is Maine Lobstermens Association Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Maine Lobstermens Association Inc (EIN: 10455701) appears trustworthy. Mission Score: 85/100. 1 red flag identified, 3 strengths noted.
Is Maine Lobstermens Association Inc a good charity to donate to?
Maine Lobstermens Association Inc has a Mission Score of 85/100. Revenue: $938K. Assets: $1.3M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Maine Lobstermens Association Inc?
The Employer Identification Number (EIN) for Maine Lobstermens Association Inc is 10455701. 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 Lobstermens Association Inc spend its money?
Maine Lobstermens Association Inc allocates 80% to programs, 15% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Maine Lobstermens Association Inc's tax-exempt status?
You can verify Maine Lobstermens Association Inc's tax-exempt status using EIN 10455701 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 Lobstermen's Association Inc. demonstrates a generally stable financial position, with assets growing from $1,075,538 in 2022 to $1,113,891 in 2023. However, there's a notable fluctuation in revenue, dropping significantly from $1,742,154 in 2022 to $848,091 in 2023, which warrants closer examination to understand the cause and sustainability of funding. Despite this revenue dip, the organization managed to keep expenses below revenue in both reported periods, indicating sound financial management in controlling costs. The organization reports 0% officer compensation, which is a strong indicator of financial transparency and a commitment to directing funds towards its mission rather than executive salaries.