Quick charity verification for Midcoast Magnet (EIN: 202706715)
Verdict: Midcoast Magnet has notable concerns
10/100Mission Score
$0Revenue
$32KAssets
2Red Flags
2Strengths
Red Flags
Zero revenue and expenses for five consecutive years, indicating dormancy.
Significant decline in assets from $106,908 in 2014 to $32,132 in 2022 without recent operational activity.
Strengths
Consistent filing of IRS 990 forms, demonstrating compliance with reporting requirements.
No executive compensation reported, indicating no personal financial benefit to officers from the organization's remaining assets.
Spending Breakdown
How Midcoast Magnet allocates its funds across programs, administration, and fundraising.
0%
Program Spending
Concerning — less than half to programs
0%
Admin Costs
Reasonable — admin costs in check
0%
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 Midcoast Magnet
Is Midcoast Magnet a legitimate charity?
Based on AI analysis of IRS 990 filings, Midcoast Magnet (EIN: 202706715) has notable concerns. Mission Score: 10/100. 2 red flags identified, 2 strengths noted.
Is Midcoast Magnet a good charity to donate to?
Midcoast Magnet has a Mission Score of 10/100. Revenue: $0. Assets: $32K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Midcoast Magnet?
The Employer Identification Number (EIN) for Midcoast Magnet is 202706715. 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 Midcoast Magnet spend its money?
Midcoast Magnet allocates 0% to programs, 0% to administration, and 0% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Midcoast Magnet's tax-exempt status?
You can verify Midcoast Magnet's tax-exempt status using EIN 202706715 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
Midcoast Magnet appears to be a dormant organization based on its recent IRS 990 filings. For the past five fiscal periods (2018-2022), the organization has reported zero revenue and zero expenses, maintaining a consistent asset level of $32,132. This lack of financial activity suggests it is not currently operating programs or incurring administrative costs. The organization's assets have steadily declined from a high of $106,908 in 2014 to the current $32,132, indicating a period of spending down reserves without new income.
Given the absence of financial transactions in recent years, assessing spending efficiency is not possible. The organization's transparency is adequate in terms of filing its required IRS 990 forms, but the lack of operational data limits insight into its current programmatic impact or financial health beyond its static asset base. The consistent reporting of zero officer compensation across all available filings indicates that no salaries are being paid to executives, which is expected given the lack of activity.