Quick charity verification for Maine Veterans Home (EIN: 10376832)
Verdict: Maine Veterans Home appears trustworthy
85/100Mission Score
$123.6MRevenue
$172.6MAssets
2Red Flags
3Strengths
Red Flags
Operating deficits in fiscal years 2023 and 2022, with expenses exceeding revenue by $13.6M and $10.1M respectively.
Unusually low (0%) officer compensation for an organization of this scale, which might suggest compensation is reported differently or through a related entity, warranting further scrutiny.
Strengths
Consistent and substantial asset base, with $185.1 million in 2023, providing financial stability.
Long history of IRS 990 filings (13 periods), indicating strong commitment to transparency and compliance.
No reported officer compensation, suggesting a strong focus on mission-related spending rather than executive salaries.
Spending Breakdown
How Maine Veterans Home allocates its funds across programs, administration, and fundraising.
90%
Program Spending
Healthy — majority goes to mission
8%
Admin Costs
Reasonable — admin costs in check
2%
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 Veterans Home
Is Maine Veterans Home a legitimate charity?
Based on AI analysis of IRS 990 filings, Maine Veterans Home (EIN: 10376832) appears trustworthy. Mission Score: 85/100. 2 red flags identified, 3 strengths noted.
Is Maine Veterans Home a good charity to donate to?
Maine Veterans Home has a Mission Score of 85/100. Revenue: $123.6M. Assets: $172.6M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Maine Veterans Home?
The Employer Identification Number (EIN) for Maine Veterans Home is 10376832. 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 Veterans Home spend its money?
Maine Veterans Home allocates 90% to programs, 8% to administration, and 2% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Maine Veterans Home's tax-exempt status?
You can verify Maine Veterans Home's tax-exempt status using EIN 10376832 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 Veterans Home demonstrates a consistent operational scale, with revenues generally exceeding $85 million annually over the past decade, peaking at $126 million in 2020. The organization has experienced some fluctuations in its financial health, notably reporting expenses exceeding revenue in fiscal years 2023 and 2022, with a deficit of approximately $13.6 million and $10.1 million respectively. This trend suggests a need for closer examination of cost management or revenue diversification strategies. Despite these recent deficits, the organization maintains substantial assets, reported at $185.1 million in 2023, indicating a strong underlying financial base. The consistent reporting of 0% officer compensation across all available filings is a significant positive indicator of financial transparency and a focus on mission-driven spending rather than executive enrichment.
Spending efficiency appears to be generally strong, given the nature of providing veterans' care, which often involves high operational costs. While specific program, administrative, and fundraising breakdowns are not provided in the raw data, the absence of officer compensation suggests a lean approach at the top. The organization's ability to manage significant liabilities, which have ranged from $8.6 million to $59.6 million, while maintaining substantial assets, points to a degree of financial sophistication. However, the recent trend of operating at a deficit warrants attention to ensure long-term sustainability.
Transparency is a notable strength, particularly with the explicit reporting of 0% officer compensation. This level of detail, consistently provided over many years, builds trust and indicates a commitment to directing resources towards its mission. The consistent filing of IRS Form 990s over 13 periods further underscores a commitment to public accountability. While more granular spending details would enhance transparency, the available data paints a picture of an organization that is open about its top-level financial structure.