Central Maine Real Estate Management Corp
Central Maine Real Estate Management Corp consistently operates at a significant deficit, with expenses far exceeding revenue.
EIN: 10387674 · Lewiston, ME · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $510 |
| Total Expenses | $304K |
| Program Spending | 80% |
| Net Assets | $1.6M |
| Transparency Score | 55/100 |
Is Central Maine Real Estate Management Corp Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Central Maine Real Estate Management Corp directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Central Maine Real Estate Management Corp
Central Maine Real Estate Management Corp (EIN: 10387674) is a nonprofit organization based in Lewiston, ME. The organization reported total revenue of $510 and total assets of $1.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Central Maine Real Estate Management Corp's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Central Maine Real Estate Management Corp is a micro nonprofit that has been operating for 43 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -14.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $15K |
| Total Expenses | $304K |
| Surplus / Deficit | $-289,889 |
| Total Assets | $1.6M |
| Total Liabilities | $27K |
| Net Assets | $1.6M |
| Operating Margin | -1986.4% |
| Debt-to-Asset Ratio | 1.7% |
| Months of Reserves | 64.1 months |
Financial Health Grade: B
In 2023, Central Maine Real Estate Management Corp reported a deficit of $290K with expenses exceeding revenue, holds 64.1 months of operating reserves (strong position), has a debt-to-asset ratio of 1.7% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Central Maine Real Estate Management Corp's revenue has declined at a compound annual growth rate (CAGR) of -14.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +45506.3% | -6.4% | +3.6% |
| 2022 | -99.9% | +19.2% | +5.1% |
| 2021 | +12.4% | +17.3% | -0.7% |
| 2020 | -65.9% | -7.1% | -41.5% |
| 2019 | +0.2% | +6.2% | +65.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1983 |
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 Central Maine Real Estate Management Corp with a Mission Score of 55 out of 100 (Fair). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Central Maine Real Estate Management Corp allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% 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 $290K, with expenses exceeding revenue.
- Debt-to-asset ratio: 1.7%.
Executive Compensation Analysis
Executive compensation has consistently been reported as 0% of expenses across all available filings, indicating that no officers are receiving compensation from the organization. This is a positive sign regarding resource allocation and avoids concerns about excessive executive pay relative to the organization's size and revenue.
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 Central Maine Real Estate Management Corp's IRS 990 filings:
- Consistent and significant operating deficits (e.g., 2023 revenue $14,594 vs. expenses $304,483).
- Revenue has been declining in recent years while expenses remain high (e.g., 2014 revenue $94,538 vs. 2023 revenue $14,594).
- NTEE code is unknown, making it difficult to benchmark against similar organizations or understand its specific charitable purpose.
Strengths
The following positive indicators were identified for Central Maine Real Estate Management Corp:
- Consistent IRS 990 filing history, indicating good compliance and transparency.
- No officer compensation reported, suggesting efficient use of funds at the executive level.
- Substantial asset base (over $1.5 million in recent years), providing a buffer against deficits.
Frequently Asked Questions about Central Maine Real Estate Management Corp
Is Central Maine Real Estate Management Corp a legitimate charity?
Central Maine Real Estate Management Corp (EIN: 10387674) is a registered tax-exempt nonprofit based in Maine. Our AI analysis gives it a Mission Score of 55/100. It has 13 years of IRS 990 filings on record. Total revenue: $510. 3 red flags identified. 3 strengths noted. Financial health grade: B.
How does Central Maine Real Estate Management Corp spend its money?
Central Maine Real Estate Management Corp directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Central Maine Real Estate Management Corp tax-deductible?
Central Maine Real Estate Management Corp is registered as a tax-exempt nonprofit (EIN: 10387674). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Central Maine Real Estate Management Corp's spending goes to programs?
Central Maine Real Estate Management Corp directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Central Maine Real Estate Management Corp located?
Central Maine Real Estate Management Corp is headquartered in Lewiston, Maine and files with the IRS under EIN 10387674.
How many years of IRS 990 filings does Central Maine Real Estate Management Corp have?
Central Maine Real Estate Management Corp 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 $510 in total revenue.
How does Central Maine Real Estate Management Corp cover its significant annual operating deficits?
The provided data shows consistent and large operating deficits, with expenses far exceeding revenue. For instance, in 2023, expenses were $304,483 while revenue was only $14,594. This suggests the organization is either drawing down its substantial assets (which were $1,626,862 in 2023) or relying on other undisclosed funding sources to cover its operations.
What are the primary activities or programs of Central Maine Real Estate Management Corp?
The NTEE code is unknown, and the provided financial data does not detail specific program activities. Given the name 'Real Estate Management Corp' and substantial assets, it likely involves managing real estate, possibly for charitable housing or community development, but further detail from the full 990 filing would be needed to confirm.
Is the organization's financial model sustainable given its consistent deficits?
The current financial model, characterized by expenses significantly outpacing revenue, appears unsustainable in the long term without a clear strategy for increased revenue generation or reduced expenses. While the organization has substantial assets, continuous deficits will eventually deplete these resources if not addressed.
Filing History
IRS 990 filing history for Central Maine Real Estate Management Corp showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Central Maine Real Estate Management Corp's revenue has declined by 85.3%, moving from $100K to $15K. Total assets decreased by 11.8% over the same period, from $1.8M to $1.6M. Total functional expenses rose by 8.7%, from $280K to $304K. In its most recent filing year (2023), Central Maine Real Estate Management Corp reported a deficit of $290K, with expenses exceeding revenue. The organization holds $27K in liabilities against $1.6M in assets (debt-to-asset ratio: 1.7%), resulting in net assets of $1.6M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $15K | $304K | $1.6M | $27K | — | — |
| 2022 | $32 | $325K | $1.6M | $5K | — | — |
| 2021 | $28K | $273K | $1.5M | $2K | — | — |
| 2020 | $24K | $233K | $1.5M | $1.2M | — | — |
| 2019 | $72K | $250K | $2.6M | $2.0M | — | View 990 |
| 2018 | $72K | $236K | $1.6M | $830K | — | View 990 |
| 2017 | $69K | $264K | $1.6M | $695K | — | View 990 |
| 2016 | $69K | $272K | $1.6M | $536K | — | View 990 |
| 2015 | $91K | $261K | $1.7M | $372K | — | View 990 |
| 2014 | $95K | $264K | $1.7M | $247K | — | View 990 |
| 2013 | $770K | $250K | $2.5M | $900K | — | View 990 |
| 2012 | $99K | $280K | $1.8M | $693K | — | View 990 |
| 2011 | $100K | $280K | $1.8M | $561K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $15K, expenses of $304K, and assets of $1.6M (revenue +45506.3% year-over-year).
- 2022: Revenue of $32, expenses of $325K, and assets of $1.6M (revenue -99.9% year-over-year).
- 2021: Revenue of $28K, expenses of $273K, and assets of $1.5M (revenue +12.4% year-over-year).
- 2020: Revenue of $24K, expenses of $233K, and assets of $1.5M (revenue -65.9% year-over-year).
- 2019: Revenue of $72K, expenses of $250K, and assets of $2.6M (revenue +0.2% year-over-year).
- 2018: Revenue of $72K, expenses of $236K, and assets of $1.6M (revenue +4.4% year-over-year).
- 2017: Revenue of $69K, expenses of $264K, and assets of $1.6M (revenue -1.2% year-over-year).
- 2016: Revenue of $69K, expenses of $272K, and assets of $1.6M (revenue -24.2% year-over-year).
- 2015: Revenue of $91K, expenses of $261K, and assets of $1.7M (revenue -3.3% year-over-year).
- 2014: Revenue of $95K, expenses of $264K, and assets of $1.7M (revenue -87.7% year-over-year).
- 2013: Revenue of $770K, expenses of $250K, and assets of $2.5M (revenue +674.3% year-over-year).
- 2012: Revenue of $99K, expenses of $280K, and assets of $1.8M (revenue -0.1% year-over-year).
- 2011: Revenue of $100K, expenses of $280K, and assets of $1.8M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Central Maine Real Estate Management Corp:
Data Sources and Methodology
This transparency report for Central Maine Real Estate Management Corp 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.