317 Main St Community Music Center Inc
317 Main St Community Music Center Inc shows strong asset growth and zero officer compensation, despite a recent operating deficit.
EIN: 201424631 · Yarmouth, ME · NTEE: A6E · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $2.2M |
| Total Expenses | $1.7M |
| Program Spending | 90% |
| CEO/Top Officer Pay | $2 |
| Net Assets | $5.0M |
| Transparency Score | 92/100 |
Is 317 Main St Community Music Center Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
317 Main St Community Music Center Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About 317 Main St Community Music Center Inc
317 Main St Community Music Center Inc (EIN: 201424631) is a nonprofit organization based in Yarmouth, ME, classified under NTEE code A6E. The organization reported total revenue of $2.2M and total assets of $7.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of 317 Main St Community Music Center Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
317 Main St Community Music Center Inc is a mid-size nonprofit that has been operating for 20 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 5.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.4M |
| Total Expenses | $1.7M |
| Surplus / Deficit | $-365,184 |
| Total Assets | $7.4M |
| Total Liabilities | $2.5M |
| Net Assets | $5.0M |
| Operating Margin | -27.0% |
| Debt-to-Asset Ratio | 33.0% |
| Months of Reserves | 52.0 months |
Financial Health Grade: B
In 2023, 317 Main St Community Music Center Inc reported a deficit of $365K with expenses exceeding revenue, holds 52.0 months of operating reserves (strong position), has a debt-to-asset ratio of 33.0% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), 317 Main St Community Music Center Inc's revenue has grown at a compound annual growth rate (CAGR) of 5.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -45.9% | +26.1% | +20.4% |
| 2022 | -31.5% | +17.9% | +33.7% |
| 2021 | +127.9% | +0.2% | +98.5% |
| 2020 | -18.2% | +6.6% | +33.2% |
| 2019 | +86.0% | +3.0% | +94.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 2006 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates 317 Main St Community Music Center Inc with a Mission Score of 92 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 5%
- programs: 90%
- fundraising: 5%
According to IRS 990 filings, 317 Main St Community Music Center Inc allocates its expenses as follows: admin: 5%, programs: 90%, fundraising: 5%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $365K, with expenses exceeding revenue.
- Debt-to-asset ratio: 33.0%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers received compensation from the organization. This is highly unusual for an organization with over $2 million in annual revenue and $7.5 million in assets, suggesting a volunteer-led executive team or that compensation is covered by other means, which significantly boosts spending efficiency.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of 317 Main St Community Music Center Inc's IRS 990 filings:
- Expenses exceeded revenue in the most recent fiscal year (2023), indicating an operating deficit of $365,184.
Strengths
The following positive indicators were identified for 317 Main St Community Music Center Inc:
- Consistent asset growth, from $236,294 in 2014 to $7,444,993 in 2023, demonstrating strong financial management and sustainability.
- 0% officer compensation reported across all filings, indicating exceptional spending efficiency and direct allocation of funds to programs.
- Strong program focus, implied by the lack of executive compensation and significant asset base for a community music center.
- Healthy revenue generation, with latest revenue at $2,158,459 and historical peaks over $3.6 million.
- Low liabilities relative to assets, with liabilities of $2,454,650 against assets of $7,444,993 in 2023, indicating a solid balance sheet.
Frequently Asked Questions about 317 Main St Community Music Center Inc
Is 317 Main St Community Music Center Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, 317 Main St Community Music Center Inc (EIN: 201424631) some concerns. Mission Score: 92/100. 1 red flag identified, 5 strengths noted.
How does 317 Main St Community Music Center Inc spend its money?
317 Main St Community Music Center Inc directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to 317 Main St Community Music Center Inc tax-deductible?
317 Main St Community Music Center Inc is registered as a tax-exempt nonprofit (EIN: 201424631). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the 317 Main St Community Music Center Inc CEO make?
317 Main St Community Music Center Inc's highest-compensated officer earns $2 annually. The organization reported $2.2M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of 317 Main St Community Music Center Inc's spending goes to programs?
317 Main St Community Music Center Inc directs 90% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does 317 Main St Community Music Center Inc compare to similar nonprofits?
With a transparency score of 92/100 (Excellent), 317 Main St Community Music Center Inc is above average for NTEE category A6E nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is 317 Main St Community Music Center Inc located?
317 Main St Community Music Center Inc is headquartered in Yarmouth, Maine and files with the IRS under EIN 201424631. It is classified under NTEE code A6E.
How many years of IRS 990 filings does 317 Main St Community Music Center Inc have?
317 Main St Community Music Center Inc has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $2.2M in total revenue.
Is 317 Main St Community Music Center Inc a good charity?
Based on the financial data, 317 Main St Community Music Center Inc appears to be a very good charity. It demonstrates strong program focus, excellent spending efficiency with 0% officer compensation, and consistent asset growth over time, indicating long-term sustainability and effective use of resources for its mission.
Why did expenses exceed revenue in 2023?
In fiscal year 2023, expenses ($1,719,407) exceeded revenue ($1,354,223) by $365,184. This could be due to several factors such as one-time capital expenditures, increased program costs, or a temporary dip in fundraising. Given the substantial assets ($7,444,993), this deficit is likely manageable and may represent strategic investment rather than financial distress.
How has the organization's financial health changed over time?
The organization has shown remarkable growth. Assets have increased from $236,294 in 2014 to $7,444,993 in 2023. While revenue and expenses have fluctuated, the overall trend is one of significant expansion and financial strengthening, with a substantial increase in its financial capacity to deliver its mission.
Filing History
IRS 990 filing history for 317 Main St Community Music Center Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), 317 Main St Community Music Center Inc's revenue has grown by 81.3%, moving from $747K to $1.4M. Total assets increased by 5248.7% over the same period, from $139K to $7.4M. Total functional expenses rose by 139.1%, from $719K to $1.7M. In its most recent filing year (2023), 317 Main St Community Music Center Inc reported a deficit of $365K, with expenses exceeding revenue. The organization holds $2.5M in liabilities against $7.4M in assets (debt-to-asset ratio: 33.0%), resulting in net assets of $5.0M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.4M | $1.7M | $7.4M | $2.5M | — | — |
| 2022 | $2.5M | $1.4M | $6.2M | $830K | — | View 990 |
| 2021 | $3.7M | $1.2M | $4.6M | $410K | — | View 990 |
| 2020 | $1.6M | $1.2M | $2.3M | $589K | — | View 990 |
| 2019 | $2.0M | $1.1M | $1.7M | $459K | — | View 990 |
| 2018 | $1.1M | $1.1M | $900K | $488K | — | View 990 |
| 2017 | $926K | $961K | $865K | $457K | — | View 990 |
| 2016 | $1.1M | $947K | $914K | $472K | — | View 990 |
| 2015 | $921K | $822K | $333K | $53K | — | View 990 |
| 2014 | $837K | $793K | $236K | $56K | — | View 990 |
| 2013 | $703K | $736K | $173K | $36K | — | View 990 |
| 2012 | $725K | $689K | $192K | $22K | — | View 990 |
| 2011 | $747K | $719K | $139K | $6K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.4M, expenses of $1.7M, and assets of $7.4M (revenue -45.9% year-over-year).
- 2022: Revenue of $2.5M, expenses of $1.4M, and assets of $6.2M (revenue -31.5% year-over-year).
- 2021: Revenue of $3.7M, expenses of $1.2M, and assets of $4.6M (revenue +127.9% year-over-year).
- 2020: Revenue of $1.6M, expenses of $1.2M, and assets of $2.3M (revenue -18.2% year-over-year).
- 2019: Revenue of $2.0M, expenses of $1.1M, and assets of $1.7M (revenue +86.0% year-over-year).
- 2018: Revenue of $1.1M, expenses of $1.1M, and assets of $900K (revenue +13.9% year-over-year).
- 2017: Revenue of $926K, expenses of $961K, and assets of $865K (revenue -16.5% year-over-year).
- 2016: Revenue of $1.1M, expenses of $947K, and assets of $914K (revenue +20.5% year-over-year).
- 2015: Revenue of $921K, expenses of $822K, and assets of $333K (revenue +10.1% year-over-year).
- 2014: Revenue of $837K, expenses of $793K, and assets of $236K (revenue +19.0% year-over-year).
- 2013: Revenue of $703K, expenses of $736K, and assets of $173K (revenue -3.1% year-over-year).
- 2012: Revenue of $725K, expenses of $689K, and assets of $192K (revenue -2.9% year-over-year).
- 2011: Revenue of $747K, expenses of $719K, and assets of $139K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for 317 Main St Community Music Center Inc:
Data Sources and Methodology
This transparency report for 317 Main St Community Music Center Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.