Franklin Memorial Hospital
Franklin Memorial Hospital's revenue has significantly declined, with zero reported assets in the latest period.
EIN: 10211503 · Farmington, ME · NTEE: E220 · Updated: 2026-03-28
Is Franklin Memorial Hospital Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Franklin Memorial Hospital directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Franklin Memorial Hospital
Franklin Memorial Hospital (EIN: 10211503) is a nonprofit organization based in Farmington, ME, classified under NTEE code E220. The organization reported total revenue of $20.1M and total assets of $0 according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Franklin Memorial Hospital's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Franklin Memorial Hospital is a large nonprofit that has been operating for 89 years, with 8 years of IRS 990 filings on record (2011–2017). Revenue has grown at a compound annual rate of -2.2%.
Key Financial Metrics (2017)
From the most recent IRS 990 filing on record:
| Total Revenue | $77.4M |
| Total Expenses | $81.1M |
| Surplus / Deficit | $-3,720,470 |
| Total Assets | $45.7M |
| Total Liabilities | $27.8M |
| Net Assets | $17.9M |
| Operating Margin | -4.8% |
| Debt-to-Asset Ratio | 60.9% |
| Months of Reserves | 6.8 months |
Financial Health Grade: C
In 2017, Franklin Memorial Hospital reported a deficit of $3.7M with expenses exceeding revenue, holds 6.8 months of operating reserves (strong position), has a debt-to-asset ratio of 60.9% (high leverage).
Financial Trends
Over 8 years of filings (2011–2017), Franklin Memorial Hospital's revenue has declined at a compound annual growth rate (CAGR) of -2.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2017 | +1.8% | +0.2% | -0.8% |
| 2016 | -2.7% | +2.8% | -9.4% |
| 2015 | +317.4% | +288.4% | -1.0% |
| 2014 | -74.9% | -76.5% | -2.1% |
| 2014 | -4.3% | +2.8% | -23.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1937 |
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 Franklin Memorial Hospital with a Mission Score of 60 out of 100 (Good). 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: 85%
- fundraising: 5%
According to IRS 990 filings, Franklin Memorial Hospital allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2017)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $3.7M, with expenses exceeding revenue.
- Debt-to-asset ratio: 60.9%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that no compensation was paid to officers, directors, trustees, or key employees, which is highly unusual for an organization of this size and suggests potential reporting nuances or a unique operational model.
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 Franklin Memorial Hospital's IRS 990 filings:
- Latest reported assets are $0, a significant and unexplained drop from previous years.
- Substantial decline in revenue from over $70 million to $20 million in the latest period.
- Expenses frequently exceed revenue, indicating potential operational deficits.
- Consistent 0% officer compensation is unusual for an organization of this scale and may warrant further scrutiny regarding how leadership is compensated or structured.
Strengths
The following positive indicators were identified for Franklin Memorial Hospital:
- Consistent filing of IRS 990 forms, demonstrating a commitment to transparency.
- Historically managed significant assets, indicating past financial capacity.
- NTEE code E220 (General Hospitals) aligns with a clear public benefit mission.
Frequently Asked Questions about Franklin Memorial Hospital
Is Franklin Memorial Hospital a legitimate charity?
Based on AI analysis of IRS 990 filings, Franklin Memorial Hospital (EIN: 10211503) some concerns. Mission Score: 60/100. 4 red flags identified, 3 strengths noted.
How does Franklin Memorial Hospital spend its money?
Franklin Memorial Hospital directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Franklin Memorial Hospital tax-deductible?
Franklin Memorial Hospital is registered as a tax-exempt nonprofit (EIN: 10211503). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Why are the latest reported assets $0, a significant decrease from previous years?
The latest filing shows $0 in assets, a dramatic change from previous periods where assets ranged from $45 million to $76 million. This requires clarification to understand the organization's current financial health and operational capacity.
What caused the substantial drop in revenue from over $70 million to $20 million in the latest period?
Revenue has decreased significantly from a high of $89,987,446 in 2012 to $20,129,084 in the latest period. Understanding the reasons behind this decline is crucial for assessing the organization's sustainability.
How does Franklin Memorial Hospital cover its expenses when they frequently exceed revenue?
In several periods, such as 2017 ($81,148,947 expenses vs. $77,428,477 revenue), expenses have exceeded revenue. It's important to understand how these deficits are covered and if the organization is drawing down on reserves or relying on other funding sources.
Filing History
IRS 990 filing history for Franklin Memorial Hospital showing financial trends over 8 years of public records:
Over 8 years of IRS 990 filings (2011–2017), Franklin Memorial Hospital's revenue has declined by 12.8%, moving from $88.8M to $77.4M. Total assets decreased by 36.1% over the same period, from $71.5M to $45.7M. Total functional expenses fell by 7.1%, from $87.4M to $81.1M. In its most recent filing year (2017), Franklin Memorial Hospital reported a deficit of $3.7M, with expenses exceeding revenue. The organization holds $27.8M in liabilities against $45.7M in assets (debt-to-asset ratio: 60.9%), resulting in net assets of $17.9M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2017 | $77.4M | $81.1M | $45.7M | $27.8M | — | View 990 |
| 2016 | $76.1M | $81.0M | $46.0M | $29.5M | — | View 990 |
| 2015 | $78.2M | $78.8M | $50.8M | $31.2M | — | View 990 |
| 2014 | $18.7M | $20.3M | $51.3M | $29.5M | — | View 990 |
| 2014 | $74.7M | $86.5M | $52.4M | $28.6M | — | View 990 |
| 2013 | $78.1M | $84.2M | $68.6M | $33.2M | — | View 990 |
| 2012 | $90.0M | $90.0M | $76.2M | $34.9M | — | View 990 |
| 2011 | $88.8M | $87.4M | $71.5M | $30.2M | — | View 990 |
Year-by-Year Financial Summary
- 2017: Revenue of $77.4M, expenses of $81.1M, and assets of $45.7M (revenue +1.8% year-over-year).
- 2016: Revenue of $76.1M, expenses of $81.0M, and assets of $46.0M (revenue -2.7% year-over-year).
- 2015: Revenue of $78.2M, expenses of $78.8M, and assets of $50.8M (revenue +317.4% year-over-year).
- 2014: Revenue of $18.7M, expenses of $20.3M, and assets of $51.3M (revenue -74.9% year-over-year).
- 2014: Revenue of $74.7M, expenses of $86.5M, and assets of $52.4M (revenue -4.3% year-over-year).
- 2013: Revenue of $78.1M, expenses of $84.2M, and assets of $68.6M (revenue -13.3% year-over-year).
- 2012: Revenue of $90.0M, expenses of $90.0M, and assets of $76.2M (revenue +1.4% year-over-year).
- 2011: Revenue of $88.8M, expenses of $87.4M, and assets of $71.5M.
Data Sources and Methodology
This transparency report for Franklin Memorial Hospital 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.