Downeast Institute For Applied Marine Research And Education Inc
Downeast Institute shows consistent asset growth and no reported officer compensation, despite fluctuating annual surpluses.
EIN: 10452403 · Beals, ME · NTEE: D330 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $2.0M |
| Total Expenses | $2.4M |
| Program Spending | 90% |
| Net Assets | $4.1M |
| Transparency Score | 92/100 |
Is Downeast Institute For Applied Marine Research And Education Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Downeast Institute For Applied Marine Research And Education Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Downeast Institute For Applied Marine Research And Education Inc
Downeast Institute For Applied Marine Research And Education Inc (EIN: 10452403) is a nonprofit organization based in Beals, ME, classified under NTEE code D330. The organization reported total revenue of $2.0M and total assets of $9.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Downeast Institute For Applied Marine Research And Education Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Downeast Institute For Applied Marine Research And Education Inc is a mid-size nonprofit that has been operating for 29 years, with 14 years of IRS 990 filings on record (2010–2023). Revenue has grown at a compound annual rate of 8.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.7M |
| Total Expenses | $2.4M |
| Surplus / Deficit | +$330K |
| Total Assets | $6.4M |
| Total Liabilities | $2.3M |
| Net Assets | $4.1M |
| Operating Margin | 12.2% |
| Debt-to-Asset Ratio | 35.6% |
| Months of Reserves | 32.6 months |
Financial Health Grade: A
In 2023, Downeast Institute For Applied Marine Research And Education Inc reported a surplus of $330K with revenue exceeding expenses, holds 32.6 months of operating reserves (strong position), has a debt-to-asset ratio of 35.6% (moderate leverage).
Financial Trends
Over 14 years of filings (2010–2023), Downeast Institute For Applied Marine Research And Education Inc's revenue has grown at a compound annual growth rate (CAGR) of 8.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +71.3% | +16.8% | +27.3% |
| 2022 | +4.0% | +24.9% | -3.1% |
| 2021 | +32.1% | +15.0% | -0.1% |
| 2020 | -22.1% | -5.3% | +0.6% |
| 2019 | -40.0% | -4.2% | +1.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 1997 |
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 Downeast Institute For Applied Marine Research And Education 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: 7%
- programs: 90%
- fundraising: 3%
According to IRS 990 filings, Downeast Institute For Applied Marine Research And Education Inc allocates its expenses as follows: admin: 7%, programs: 90%, fundraising: 3%. 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 surplus of $330K, with revenue exceeding expenses.
- Debt-to-asset ratio: 35.6%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that no salaries are paid to its officers, which is highly unusual for an organization of its size and revenue, suggesting a volunteer-led executive structure or that compensation is reported under other categories.
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 Downeast Institute For Applied Marine Research And Education Inc's IRS 990 filings:
- Fluctuating annual net income, with several years showing expenses exceeding revenue (e.g., 2022, 2021, 2020, 2019).
- Significant increase in liabilities in 2023 to $2,294,130, which warrants monitoring relative to asset growth.
Strengths
The following positive indicators were identified for Downeast Institute For Applied Marine Research And Education Inc:
- Consistent reporting of 0% officer compensation, indicating strong commitment to mission-focused spending.
- Significant growth in assets over the past decade, from $5,656,745 in 2014 to $6,435,897 in 2023, demonstrating financial stability.
- Strong program focus, implied by the lack of executive compensation and overall financial health.
- Ability to generate substantial revenue, with several years exceeding $2 million, supporting its operations and growth.
Frequently Asked Questions about Downeast Institute For Applied Marine Research And Education Inc
Is Downeast Institute For Applied Marine Research And Education Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Downeast Institute For Applied Marine Research And Education Inc (EIN: 10452403) some concerns. Mission Score: 92/100. 2 red flags identified, 4 strengths noted.
How does Downeast Institute For Applied Marine Research And Education Inc spend its money?
Downeast Institute For Applied Marine Research And Education Inc directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Downeast Institute For Applied Marine Research And Education Inc tax-deductible?
Downeast Institute For Applied Marine Research And Education Inc is registered as a tax-exempt nonprofit (EIN: 10452403). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Downeast Institute For Applied Marine Research And Education Inc's spending goes to programs?
Downeast Institute For Applied Marine Research And Education Inc directs 90% to programs, 3% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Downeast Institute For Applied Marine Research And Education Inc compare to similar nonprofits?
With a transparency score of 92/100 (Excellent), Downeast Institute For Applied Marine Research And Education Inc is above average for NTEE category D330 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Downeast Institute For Applied Marine Research And Education Inc located?
Downeast Institute For Applied Marine Research And Education Inc is headquartered in Beals, Maine and files with the IRS under EIN 10452403. It is classified under NTEE code D330.
How many years of IRS 990 filings does Downeast Institute For Applied Marine Research And Education Inc have?
Downeast Institute For Applied Marine Research And Education Inc has 14 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 $2.0M in total revenue.
Is Downeast Institute For Applied Marine Research And Education Inc financially stable?
Yes, the organization appears financially stable. Despite some years with expenses exceeding revenue, its assets have consistently grown from $5,656,745 in 2014 to $6,435,897 in 2023, demonstrating long-term financial health.
How does Downeast Institute manage executive compensation?
The Downeast Institute reports 0% officer compensation in all available IRS 990 filings, suggesting that its executive leadership may be entirely volunteer-based or compensated through non-officer roles, which is a strong indicator of resource allocation directly to its mission.
What is the trend in the organization's revenue and expenses?
Revenue and expenses have fluctuated over the years. For example, revenue peaked at $4,961,228 in 2016 and was $2,697,975 in 2023, while expenses were $1,004,989 in 2016 and $2,367,998 in 2023. The organization has generally maintained a positive net income or managed deficits without significantly impacting its asset base.
Are there any concerns regarding the organization's liabilities?
Liabilities have shown variability, reaching a high of $2,294,130 in 2023. While this is a notable increase from previous years, the organization's substantial assets of $6,435,897 in the same period suggest that these liabilities are manageable.
Filing History
IRS 990 filing history for Downeast Institute For Applied Marine Research And Education Inc showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2010–2023), Downeast Institute For Applied Marine Research And Education Inc's revenue has grown by 189.4%, moving from $932K to $2.7M. Total assets increased by 167.7% over the same period, from $2.4M to $6.4M. Total functional expenses rose by 859.1%, from $247K to $2.4M. In its most recent filing year (2023), Downeast Institute For Applied Marine Research And Education Inc reported a surplus of $330K, with revenue exceeding expenses. The organization holds $2.3M in liabilities against $6.4M in assets (debt-to-asset ratio: 35.6%), resulting in net assets of $4.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $2.7M | $2.4M | $6.4M | $2.3M | — | — |
| 2022 | $1.6M | $2.0M | $5.1M | $1.2M | — | View 990 |
| 2021 | $1.5M | $1.6M | $5.2M | $950K | — | View 990 |
| 2020 | $1.1M | $1.4M | $5.2M | $853K | — | — |
| 2019 | $1.5M | $1.5M | $5.2M | $561K | — | View 990 |
| 2018 | $2.5M | $1.6M | $5.1M | $479K | — | View 990 |
| 2017 | $1.5M | $1.0M | $5.4M | $1.7M | — | View 990 |
| 2016 | $5.0M | $1.0M | $7.2M | $93K | — | View 990 |
| 2015 | $1.0M | $850K | $5.2M | $2.1M | — | View 990 |
| 2014 | $741K | $692K | $5.7M | $2.1M | — | View 990 |
| 2013 | $514K | $459K | $2.9M | $12K | — | View 990 |
| 2012 | $419K | $353K | $2.8M | $18K | — | View 990 |
| 2011 | $845K | $301K | $2.9M | $91K | — | View 990 |
| 2010 | $932K | $247K | $2.4M | $206K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.7M, expenses of $2.4M, and assets of $6.4M (revenue +71.3% year-over-year).
- 2022: Revenue of $1.6M, expenses of $2.0M, and assets of $5.1M (revenue +4.0% year-over-year).
- 2021: Revenue of $1.5M, expenses of $1.6M, and assets of $5.2M (revenue +32.1% year-over-year).
- 2020: Revenue of $1.1M, expenses of $1.4M, and assets of $5.2M (revenue -22.1% year-over-year).
- 2019: Revenue of $1.5M, expenses of $1.5M, and assets of $5.2M (revenue -40.0% year-over-year).
- 2018: Revenue of $2.5M, expenses of $1.6M, and assets of $5.1M (revenue +61.2% year-over-year).
- 2017: Revenue of $1.5M, expenses of $1.0M, and assets of $5.4M (revenue -69.4% year-over-year).
- 2016: Revenue of $5.0M, expenses of $1.0M, and assets of $7.2M (revenue +384.3% year-over-year).
- 2015: Revenue of $1.0M, expenses of $850K, and assets of $5.2M (revenue +38.2% year-over-year).
- 2014: Revenue of $741K, expenses of $692K, and assets of $5.7M (revenue +44.3% year-over-year).
- 2013: Revenue of $514K, expenses of $459K, and assets of $2.9M (revenue +22.5% year-over-year).
- 2012: Revenue of $419K, expenses of $353K, and assets of $2.8M (revenue -50.4% year-over-year).
- 2011: Revenue of $845K, expenses of $301K, and assets of $2.9M (revenue -9.3% year-over-year).
- 2010: Revenue of $932K, expenses of $247K, and assets of $2.4M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Downeast Institute For Applied Marine Research And Education Inc:
Data Sources and Methodology
This transparency report for Downeast Institute For Applied Marine Research And Education 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.