Eastern Maine Electric Cooperative Inc
Eastern Maine Electric Cooperative consistently operates at break-even with growing assets and no reported officer compensation.
EIN: 10056837 · Calais, ME · Updated: 2026-03-28
Is Eastern Maine Electric Cooperative Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Eastern Maine Electric Cooperative Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Eastern Maine Electric Cooperative Inc
Eastern Maine Electric Cooperative Inc (EIN: 10056837) is a nonprofit organization based in Calais, ME. The organization reported total revenue of $18.4M and total assets of $54.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Eastern Maine Electric Cooperative Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Eastern Maine Electric Cooperative Inc with a Mission Score of 85 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: 10%
- programs: 90%
- fundraising: 0%
According to IRS 990 filings, Eastern Maine Electric Cooperative Inc allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, which is highly unusual for an organization of its size with annual revenues exceeding $17 million. This suggests that executive compensation may be structured differently or not reported under this specific category on the 990, or that the cooperative model truly minimizes traditional executive salaries.
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 Eastern Maine Electric Cooperative Inc's IRS 990 filings:
- Consistent 0% officer compensation reported, which is atypical for an organization of this revenue size and may obscure actual executive remuneration.
Strengths
The following positive indicators were identified for Eastern Maine Electric Cooperative Inc:
- Consistent break-even operations, indicating efficient cost management and a focus on member service rather than profit.
- Steady growth in assets from $39,234,376 in 2014 to $53,940,615 in 2023, demonstrating financial stability and investment.
- No reported fundraising expenses, suggesting that the cooperative model relies on member contributions or service fees rather than public donations.
Frequently Asked Questions about Eastern Maine Electric Cooperative Inc
Is Eastern Maine Electric Cooperative Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Eastern Maine Electric Cooperative Inc (EIN: 10056837) some concerns. Mission Score: 85/100. 1 red flag identified, 3 strengths noted.
How does Eastern Maine Electric Cooperative Inc spend its money?
Eastern Maine Electric Cooperative Inc directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Eastern Maine Electric Cooperative Inc tax-deductible?
Eastern Maine Electric Cooperative Inc is registered as a tax-exempt nonprofit (EIN: 10056837). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Eastern Maine Electric Cooperative Inc fund its operations if revenue consistently equals expenses?
As a cooperative, the organization's primary goal is to provide services to its members at cost, rather than generating profit. The consistent reporting of revenue equaling expenses indicates a break-even operational model, where all income is used to cover operational costs, maintenance, and investments in infrastructure.
What is the nature of the 'Officer Comp=0%' reporting across all filings?
The consistent reporting of 0% officer compensation is highly unusual for an organization of this scale. It could mean that compensation for key executives is reported under different expense categories, that the cooperative's leadership is entirely volunteer-based, or that compensation is structured in a non-traditional way not captured by this specific line item on the 990.
How has the organization's asset growth impacted its financial stability?
The steady growth in assets from $39,234,376 in 2014 to $53,940,615 in 2023 indicates a healthy financial position and likely ongoing investment in its infrastructure and operational capacity, which enhances its ability to serve its members effectively.
Filing History
IRS 990 filing history for Eastern Maine Electric Cooperative Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Eastern Maine Electric Cooperative Inc's revenue has grown by 15.7%, moving from $14.9M to $17.3M. Total assets increased by 49.7% over the same period, from $36.0M to $53.9M. Total functional expenses rose by 15.7%, from $14.9M to $17.3M. In its most recent filing year (2023), Eastern Maine Electric Cooperative Inc reported a surplus of $0, with revenue exceeding expenses. The organization holds $39.1M in liabilities against $53.9M in assets (debt-to-asset ratio: 72.4%), resulting in net assets of $14.9M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $17.3M | $17.3M | $53.9M | $39.1M | — | View 990 |
| 2022 | $16.9M | $16.9M | $52.5M | $37.7M | — | — |
| 2021 | $16.4M | $16.4M | $49.5M | $34.8M | — | View 990 |
| 2020 | $17.1M | $17.1M | $44.3M | $30.3M | — | — |
| 2019 | $16.3M | $16.3M | $47.3M | $32.9M | — | — |
| 2018 | $16.0M | $16.0M | $47.1M | $33.5M | — | View 990 |
| 2017 | $16.1M | $16.1M | $46.0M | $32.9M | — | — |
| 2016 | $15.5M | $15.5M | $39.4M | $26.8M | — | View 990 |
| 2015 | $15.8M | $15.8M | $39.4M | $26.5M | — | View 990 |
| 2014 | $15.1M | $15.1M | $39.2M | $26.7M | — | View 990 |
| 2013 | $15.0M | $15.0M | $37.2M | $25.0M | — | View 990 |
| 2012 | $15.5M | $15.5M | $36.6M | $24.0M | — | View 990 |
| 2011 | $14.9M | $14.9M | $36.0M | $23.8M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $17.3M, expenses of $17.3M, and assets of $53.9M (revenue +2.5% year-over-year).
- 2022: Revenue of $16.9M, expenses of $16.9M, and assets of $52.5M (revenue +2.7% year-over-year).
- 2021: Revenue of $16.4M, expenses of $16.4M, and assets of $49.5M (revenue -3.7% year-over-year).
- 2020: Revenue of $17.1M, expenses of $17.1M, and assets of $44.3M (revenue +4.3% year-over-year).
- 2019: Revenue of $16.3M, expenses of $16.3M, and assets of $47.3M (revenue +2.0% year-over-year).
- 2018: Revenue of $16.0M, expenses of $16.0M, and assets of $47.1M (revenue -0.7% year-over-year).
- 2017: Revenue of $16.1M, expenses of $16.1M, and assets of $46.0M (revenue +3.7% year-over-year).
- 2016: Revenue of $15.5M, expenses of $15.5M, and assets of $39.4M (revenue -1.7% year-over-year).
- 2015: Revenue of $15.8M, expenses of $15.8M, and assets of $39.4M (revenue +4.8% year-over-year).
- 2014: Revenue of $15.1M, expenses of $15.1M, and assets of $39.2M (revenue +0.4% year-over-year).
- 2013: Revenue of $15.0M, expenses of $15.0M, and assets of $37.2M (revenue -2.9% year-over-year).
- 2012: Revenue of $15.5M, expenses of $15.5M, and assets of $36.6M (revenue +3.5% year-over-year).
- 2011: Revenue of $14.9M, expenses of $14.9M, and assets of $36.0M.
Data Sources and Methodology
This transparency report for Eastern Maine Electric Cooperative 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.