Bank Of Maine Charitable Foundation
Bank Of Maine Charitable Foundation's assets decline by over 80% in a decade due to expenses consistently exceeding minimal revenue.
EIN: 10446023 · Camden, ME · Updated: 2026-03-28
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Bank Of Maine Charitable Foundation is mapped to EIN 10446023.
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| Metric | Value |
|---|---|
| Total Revenue | $545 |
| Total Expenses | $42K |
| Program Spending | 70% |
| Net Assets | $259K |
| Transparency Score | 30/100 |
Search Intent Cockpit
Bank Of Maine Charitable Foundation Form 990, Revenue, CEO Pay, and IRS Filing Signals
Bank Of Maine Charitable Foundation is surfaced here as a decision-ready nonprofit financial profile, not just a charity listing. The page consolidates IRS Form 990 revenue, expenses, assets, tax-exempt classification, executive compensation, mission score, red flags, and year-by-year filing history so donors, researchers, journalists, and grant teams can answer the common search questions around Bank Of Maine Charitable Foundation in one place.
Form 990 Filing Summary
10 filing years are available, with latest revenue of $649 and expenses of $42K.
Revenue and Expenses
Bank Of Maine Charitable Foundation reported $649 in revenue and $42K in expenses, a deficit of $42K.
Executive Compensation
Officer, director, trustee, and key employee pay is reviewed from IRS 990 compensation disclosures when present.
Charity Score and Red Flags
30/100 mission score, 3 red flags, and 2 strengths are shown from structured and AI review.
Is Bank Of Maine Charitable Foundation Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
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Where the Money Comes From and Where It Goes
Revenue Source Mix
Revenue-source line items are not available on the stored filing yet. Future ingestion now preserves contribution, program-revenue, and investment-income fields when ProPublica provides them.
Expense Deployment
| Program services | $30K (70%) |
Across stored filings, Bank Of Maine Charitable Foundation shows contribution history pending. Next enrichment targets: revenue-source fields, IRS BMF classification.
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| Decision Lens | Signal | What to Inspect Next |
|---|---|---|
| Legitimacy | Significant Concerns | Good filing record; 3 red flags identified |
| Mission spend | 70% to programs | Good |
| Financial durability | Grade B | 10 stored filing years |
| Peer context | Compare with Maine Composite Materials Applied Technology Development Center | Maine and category context |
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Camden, ME nonprofitsFollow the Money
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Bank Of Maine Charitable Foundation directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Bank Of Maine Charitable Foundation
Bank Of Maine Charitable Foundation (EIN: 10446023) is a nonprofit organization based in Camden, ME. The organization reported total revenue of $545 and total assets of $233K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Bank Of Maine Charitable Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Bank Of Maine Charitable Foundation is a micro nonprofit that has been operating for 36 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -31.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $649 |
| Total Expenses | $42K |
| Surplus / Deficit | $-41,846 |
| Total Assets | $259K |
| Total Liabilities | $1 |
| Net Assets | $259K |
| Operating Margin | -6447.8% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 73.3 months |
Financial Health Grade: B
In 2023, Bank Of Maine Charitable Foundation reported a deficit of $42K with expenses exceeding revenue, holds 73.3 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), Bank Of Maine Charitable Foundation's revenue has declined at a compound annual growth rate (CAGR) of -31.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -71.8% | -3.7% | -13.9% |
| 2022 | -12.3% | -35.0% | -12.2% |
| 2021 | -4.9% | -17.2% | -16.0% |
| 2020 | -8.0% | +7.6% | -16.3% |
| 2019 | -36.7% | -71.9% | -43.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1990 |
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 Bank Of Maine Charitable Foundation with a Mission Score of 30 out of 100 (Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 20%
- programs: 70%
- fundraising: 10%
According to IRS 990 filings, Bank Of Maine Charitable Foundation allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $42K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation has consistently been reported as 0% across all filings, suggesting that the organization relies on unpaid leadership or that compensation is not a significant expense, which is positive for resource allocation.
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 Bank Of Maine Charitable Foundation's IRS 990 filings:
- Consistent and significant net losses for over a decade, with expenses far exceeding revenue (e.g., 2023 revenue $649 vs. expenses $42,495).
- Rapid depletion of assets, declining from $1,496,322 in 2011 to $259,466 in 2023, indicating an unsustainable financial model.
- Latest revenue of $545 is extremely low compared to historical expenses, suggesting a lack of fundraising or investment income.
Strengths
The following positive indicators were identified for Bank Of Maine Charitable Foundation:
- Consistent filing of IRS Form 990s, indicating adherence to reporting requirements.
- No reported officer compensation, suggesting volunteer leadership or efficient use of funds in this area.
Frequently Asked Questions about Bank Of Maine Charitable Foundation
Is Bank Of Maine Charitable Foundation a legitimate charity?
Bank Of Maine Charitable Foundation (EIN: 10446023) is a registered tax-exempt nonprofit based in Maine. Our AI analysis gives it a Mission Score of 30/100. It has 10 years of IRS 990 filings on record. Total revenue: $545. 3 red flags identified. 2 strengths noted. Financial health grade: B.
How does Bank Of Maine Charitable Foundation spend its money?
Bank Of Maine Charitable Foundation directs 70% of its spending to programs and services. Fundraising costs 10%. This meets the 65% industry benchmark.
Are donations to Bank Of Maine Charitable Foundation tax-deductible?
Bank Of Maine Charitable Foundation is registered as a tax-exempt nonprofit (EIN: 10446023). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Bank Of Maine Charitable Foundation's spending goes to programs?
Bank Of Maine Charitable Foundation directs 70% to programs, 10% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
Where is Bank Of Maine Charitable Foundation located?
Bank Of Maine Charitable Foundation is headquartered in Camden, Maine and files with the IRS under EIN 10446023.
How many years of IRS 990 filings does Bank Of Maine Charitable Foundation have?
Bank Of Maine Charitable Foundation has 10 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 $545 in total revenue.
Is the Bank Of Maine Charitable Foundation financially sustainable?
Based on the provided data, the foundation is not financially sustainable. Its expenses have consistently and significantly outpaced its revenue for over a decade, leading to a substantial depletion of its assets from $1,496,322 in 2011 to $259,466 in 2023.
What is the primary cause of the asset decline?
The primary cause of the asset decline is the consistent and large deficit between revenue and expenses. For example, in 2023, revenue was $649 while expenses were $42,495, resulting in a net loss that drew down assets.
Does the foundation have high administrative costs?
Without a detailed breakdown of expenses, it's difficult to definitively state the administrative cost ratio. However, given the minimal revenue and significant expenses, even a small absolute administrative cost would represent a high percentage of incoming funds.
Filing History
IRS 990 filing history for Bank Of Maine Charitable Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Bank Of Maine Charitable Foundation's revenue has declined by 98.9%, moving from $56K to $649. Total assets decreased by 82.7% over the same period, from $1.5M to $259K. Total functional expenses fell by 86.5%, from $315K to $42K. In its most recent filing year (2023), Bank Of Maine Charitable Foundation reported a deficit of $42K, with expenses exceeding revenue. The organization holds $1 in liabilities against $259K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $259K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $649 | $42K | $259K | $1 | — | — |
| 2022 | $2K | $44K | $301K | $1 | — | — |
| 2021 | $3K | $68K | $343K | $1 | — | — |
| 2020 | $3K | $82K | $408K | $1 | — | — |
| 2019 | $3K | $76K | $488K | $1 | — | View 990 |
| 2015 | $5K | $271K | $864K | $0 | — | View 990 |
| 2014 | $7K | $269K | $1.1M | $0 | — | View 990 |
| 2013 | $10K | $191K | $1.4M | $0 | — | View 990 |
| 2012 | $357K | $279K | $1.6M | $0 | — | View 990 |
| 2011 | $56K | $315K | $1.5M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $649, expenses of $42K, and assets of $259K (revenue -71.8% year-over-year).
- 2022: Revenue of $2K, expenses of $44K, and assets of $301K (revenue -12.3% year-over-year).
- 2021: Revenue of $3K, expenses of $68K, and assets of $343K (revenue -4.9% year-over-year).
- 2020: Revenue of $3K, expenses of $82K, and assets of $408K (revenue -8.0% year-over-year).
- 2019: Revenue of $3K, expenses of $76K, and assets of $488K (revenue -36.7% year-over-year).
- 2015: Revenue of $5K, expenses of $271K, and assets of $864K (revenue -27.3% year-over-year).
- 2014: Revenue of $7K, expenses of $269K, and assets of $1.1M (revenue -32.7% year-over-year).
- 2013: Revenue of $10K, expenses of $191K, and assets of $1.4M (revenue -97.3% year-over-year).
- 2012: Revenue of $357K, expenses of $279K, and assets of $1.6M (revenue +531.9% year-over-year).
- 2011: Revenue of $56K, expenses of $315K, and assets of $1.5M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Bank Of Maine Charitable Foundation:
Data Sources and Methodology
This transparency report for Bank Of Maine Charitable Foundation 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.