Gulf Of Maine Lobster Foundation Inc
Gulf Of Maine Lobster Foundation Inc shows consistent growth and tight operating margins with no reported officer compensation.
EIN: 10535494 · Kennebunk, ME · NTEE: U21 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.3M |
| Total Expenses | $960K |
| Program Spending | 85% |
| CEO/Top Officer Pay | $972,485 |
| Net Assets | $115K |
| Transparency Score | 88/100 |
Is Gulf Of Maine Lobster Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Gulf Of Maine Lobster Foundation Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Gulf Of Maine Lobster Foundation Inc
Gulf Of Maine Lobster Foundation Inc (EIN: 10535494) is a nonprofit organization based in Kennebunk, ME, classified under NTEE code U21. The organization reported total revenue of $1.3M and total assets of $262K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Gulf Of Maine Lobster Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Gulf Of Maine Lobster Foundation Inc is a mid-size nonprofit that has been operating for 25 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 2.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $972K |
| Total Expenses | $960K |
| Surplus / Deficit | +$12K |
| Total Assets | $152K |
| Total Liabilities | $37K |
| Net Assets | $115K |
| Operating Margin | 1.3% |
| Debt-to-Asset Ratio | 24.3% |
| Months of Reserves | 1.9 months |
Financial Health Grade: A
In 2023, Gulf Of Maine Lobster Foundation Inc reported a surplus of $12K with revenue exceeding expenses, holds 1.9 months of operating reserves (limited), has a debt-to-asset ratio of 24.3% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), Gulf Of Maine Lobster Foundation Inc's revenue has grown at a compound annual growth rate (CAGR) of 2.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +80.0% | +80.6% | -10.7% |
| 2022 | +23.3% | +22.6% | +19.6% |
| 2021 | +16.0% | +14.9% | +39.6% |
| 2020 | -29.7% | -29.1% | -10.6% |
| 2019 | -1.2% | -0.2% | -1.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 2001 |
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 Gulf Of Maine Lobster Foundation Inc with a Mission Score of 88 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: 85%
- fundraising: 5%
According to IRS 990 filings, Gulf Of Maine Lobster Foundation Inc 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 (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $12K, with revenue exceeding expenses.
- Debt-to-asset ratio: 24.3%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that no salaries are paid to officers or that such compensation is minimal and reported elsewhere, which is highly unusual for an organization of its size and revenue ($972,485 in 2023).
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 Gulf Of Maine Lobster Foundation Inc's IRS 990 filings:
- Consistent 0% officer compensation reported, which is unusual for an organization of this size and could indicate compensation is reported under other categories or a heavy reliance on unpaid leadership, warranting further inquiry.
Strengths
The following positive indicators were identified for Gulf Of Maine Lobster Foundation Inc:
- Consistent revenue growth, from $315,417 in 2015 to $972,485 in 2023, indicating increasing support and activity.
- Tight operating margins, with expenses closely matching revenue (e.g., $960,199 expenses vs. $972,485 revenue in 2023), suggesting efficient use of funds.
- No reported officer compensation across all filings, indicating a strong commitment to directing funds towards the mission.
- Healthy asset growth, from $82,398 in 2015 to $151,891 in 2023, while maintaining relatively low liabilities.
Frequently Asked Questions about Gulf Of Maine Lobster Foundation Inc
Is Gulf Of Maine Lobster Foundation Inc a legitimate charity?
Gulf Of Maine Lobster Foundation Inc (EIN: 10535494) is a registered tax-exempt nonprofit based in Maine. Our AI analysis gives it a Mission Score of 88/100. It has 13 years of IRS 990 filings on record. Total revenue: $1.3M. 1 red flag identified. 4 strengths noted. Financial health grade: A.
How does Gulf Of Maine Lobster Foundation Inc spend its money?
Gulf Of Maine Lobster Foundation Inc directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Gulf Of Maine Lobster Foundation Inc tax-deductible?
Gulf Of Maine Lobster Foundation Inc is registered as a tax-exempt nonprofit (EIN: 10535494). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Gulf Of Maine Lobster Foundation Inc CEO make?
Gulf Of Maine Lobster Foundation Inc's highest-compensated officer earns $972,485 annually. The organization reported $1.3M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Gulf Of Maine Lobster Foundation Inc's spending goes to programs?
Gulf Of Maine Lobster Foundation Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Gulf Of Maine Lobster Foundation Inc compare to similar nonprofits?
With a transparency score of 88/100 (Excellent), Gulf Of Maine Lobster Foundation Inc is above average for NTEE category U21 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Gulf Of Maine Lobster Foundation Inc located?
Gulf Of Maine Lobster Foundation Inc is headquartered in Kennebunk, Maine and files with the IRS under EIN 10535494. It is classified under NTEE code U21.
How many years of IRS 990 filings does Gulf Of Maine Lobster Foundation Inc have?
Gulf Of Maine Lobster Foundation Inc 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 $1.3M in total revenue.
Is Gulf Of Maine Lobster Foundation Inc a good charity?
Based on the available IRS 990 data, the Gulf Of Maine Lobster Foundation Inc appears to be a well-managed charity with strong program focus, as evidenced by its tight operating margins and consistent growth in revenue and assets. The reported 0% officer compensation is a significant positive indicator of mission-driven spending.
How does the organization manage its expenses relative to its revenue?
The organization consistently manages its expenses very closely to its revenue. For example, in 2023, revenue was $972,485 and expenses were $960,199, resulting in a very small surplus. This indicates efficient spending and a focus on deploying funds directly to programs.
What is the trend in the organization's financial growth?
The organization has shown significant financial growth over the past decade. Revenue increased from $315,417 in 2015 to $972,485 in 2023, and assets grew from $82,398 to $151,891 in the same period, indicating a healthy expansion of its operations.
Filing History
IRS 990 filing history for Gulf Of Maine Lobster Foundation Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Gulf Of Maine Lobster Foundation Inc's revenue has grown by 29.6%, moving from $750K to $972K. Total assets increased by 37.2% over the same period, from $111K to $152K. Total functional expenses rose by 30.7%, from $735K to $960K. In its most recent filing year (2023), Gulf Of Maine Lobster Foundation Inc reported a surplus of $12K, with revenue exceeding expenses. The organization holds $37K in liabilities against $152K in assets (debt-to-asset ratio: 24.3%), resulting in net assets of $115K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $972K | $960K | $152K | $37K | — | — |
| 2022 | $540K | $532K | $170K | $67K | — | View 990 |
| 2021 | $438K | $434K | $142K | $48K | — | View 990 |
| 2020 | $378K | $378K | $102K | $12K | — | — |
| 2019 | $537K | $533K | $114K | $25K | — | View 990 |
| 2018 | $544K | $534K | $116K | $31K | — | View 990 |
| 2017 | $415K | $414K | $117K | $41K | — | View 990 |
| 2016 | $410K | $405K | $103K | $29K | — | View 990 |
| 2015 | $315K | $328K | $82K | $13K | — | View 990 |
| 2014 | $329K | $343K | $88K | $6K | — | View 990 |
| 2013 | $532K | $519K | $115K | $18K | — | View 990 |
| 2012 | $468K | $467K | $105K | $22K | — | View 990 |
| 2011 | $750K | $735K | $111K | $28K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $972K, expenses of $960K, and assets of $152K (revenue +80.0% year-over-year).
- 2022: Revenue of $540K, expenses of $532K, and assets of $170K (revenue +23.3% year-over-year).
- 2021: Revenue of $438K, expenses of $434K, and assets of $142K (revenue +16.0% year-over-year).
- 2020: Revenue of $378K, expenses of $378K, and assets of $102K (revenue -29.7% year-over-year).
- 2019: Revenue of $537K, expenses of $533K, and assets of $114K (revenue -1.2% year-over-year).
- 2018: Revenue of $544K, expenses of $534K, and assets of $116K (revenue +30.9% year-over-year).
- 2017: Revenue of $415K, expenses of $414K, and assets of $117K (revenue +1.2% year-over-year).
- 2016: Revenue of $410K, expenses of $405K, and assets of $103K (revenue +30.1% year-over-year).
- 2015: Revenue of $315K, expenses of $328K, and assets of $82K (revenue -4.0% year-over-year).
- 2014: Revenue of $329K, expenses of $343K, and assets of $88K (revenue -38.3% year-over-year).
- 2013: Revenue of $532K, expenses of $519K, and assets of $115K (revenue +13.8% year-over-year).
- 2012: Revenue of $468K, expenses of $467K, and assets of $105K (revenue -37.6% year-over-year).
- 2011: Revenue of $750K, expenses of $735K, and assets of $111K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Gulf Of Maine Lobster Foundation Inc:
Data Sources and Methodology
This transparency report for Gulf Of Maine Lobster Foundation 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.