Gulf Of Maine Research Institute
Gulf Of Maine Research Institute shows consistent revenue growth and strong asset accumulation over the past decade.
EIN: 10504905 · Portland, ME · NTEE: D500 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $22.5M |
| Total Expenses | $15.4M |
| Program Spending | 80% |
| Net Assets | $35.1M |
| Transparency Score | 85/100 |
Is Gulf Of Maine Research Institute 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 Research Institute directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Gulf Of Maine Research Institute
Gulf Of Maine Research Institute (EIN: 10504905) is a nonprofit organization based in Portland, ME, classified under NTEE code D500. The organization reported total revenue of $22.5M and total assets of $53.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Gulf Of Maine Research Institute's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Gulf Of Maine Research Institute is a large nonprofit that has been operating for 30 years, with 14 years of IRS 990 filings on record (2010–2023). Revenue has grown at a compound annual rate of 5.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $19.4M |
| Total Expenses | $15.4M |
| Surplus / Deficit | +$4.0M |
| Total Assets | $50.4M |
| Total Liabilities | $15.3M |
| Net Assets | $35.1M |
| Operating Margin | 20.7% |
| Debt-to-Asset Ratio | 30.4% |
| Months of Reserves | 39.4 months |
Financial Health Grade: A
In 2023, Gulf Of Maine Research Institute reported a surplus of $4.0M with revenue exceeding expenses, holds 39.4 months of operating reserves (strong position), has a debt-to-asset ratio of 30.4% (moderate leverage).
Financial Trends
Over 14 years of filings (2010–2023), Gulf Of Maine Research Institute's revenue has grown at a compound annual growth rate (CAGR) of 5.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +25.0% | +17.6% | +11.3% |
| 2022 | +18.7% | +14.2% | +54.1% |
| 2021 | -18.2% | -5.4% | +12.1% |
| 2020 | +14.3% | +15.6% | +17.9% |
| 2019 | +207.2% | +108.2% | +24.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1996 |
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 Research Institute 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: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Gulf Of Maine Research Institute 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 surplus of $4.0M, with revenue exceeding expenses.
- Debt-to-asset ratio: 30.4%.
Executive Compensation Analysis
The provided data consistently reports 0% for Officer Compensation across all available filing periods, which is unusual for an organization of this size and revenue. This suggests that executive compensation may be reported under different expense categories or that the organization relies heavily on uncompensated leadership, requiring a deeper dive into the full 990 forms for clarity.
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 Research Institute's IRS 990 filings:
- Lack of specific officer compensation reported in summary data, requiring further investigation into full 990 for transparency on executive pay.
Strengths
The following positive indicators were identified for Gulf Of Maine Research Institute:
- Consistent and significant revenue growth over the past decade, from $7.4M in 2014 to $22.4M currently.
- Strong asset accumulation, increasing from $11.2M in 2014 to $53.7M currently, indicating robust financial health.
- Consistent operational surpluses, such as the $4M surplus in the 202306 period, demonstrating effective financial management.
- Long history of IRS 990 filings (14 filings), suggesting a commitment to transparency and compliance.
Frequently Asked Questions about Gulf Of Maine Research Institute
Is Gulf Of Maine Research Institute a legitimate charity?
Gulf Of Maine Research Institute (EIN: 10504905) is a registered tax-exempt nonprofit based in Maine. Our AI analysis gives it a Mission Score of 85/100. It has 14 years of IRS 990 filings on record. Total revenue: $22.5M. 1 red flag identified. 4 strengths noted. Financial health grade: A.
How does Gulf Of Maine Research Institute spend its money?
Gulf Of Maine Research Institute directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Gulf Of Maine Research Institute tax-deductible?
Gulf Of Maine Research Institute is registered as a tax-exempt nonprofit (EIN: 10504905). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Gulf Of Maine Research Institute's spending goes to programs?
Gulf Of Maine Research Institute directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Gulf Of Maine Research Institute compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Gulf Of Maine Research Institute is above average for NTEE category D500 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Gulf Of Maine Research Institute located?
Gulf Of Maine Research Institute is headquartered in Portland, Maine and files with the IRS under EIN 10504905. It is classified under NTEE code D500.
How many years of IRS 990 filings does Gulf Of Maine Research Institute have?
Gulf Of Maine Research Institute 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 $22.5M in total revenue.
Is Gulf Of Maine Research Institute financially stable?
Yes, the organization demonstrates strong financial stability with consistent revenue growth, increasing assets from $11.2M in 2014 to $53.7M currently, and generally operating with a surplus, such as the $4M surplus in the 202306 period.
How has the organization's revenue changed over time?
Revenue has shown significant growth, increasing from $7.4M in 2014 to $22.4M in the latest period, indicating successful fundraising and grant acquisition efforts.
What is the trend in the organization's assets?
Assets have grown substantially and consistently, from $11.2M in 2014 to $53.7M currently, reflecting strong financial management and investment in its mission.
Is the organization efficient with its spending?
Based on the consistent surpluses (e.g., $4M in 202306), the organization appears to manage its expenses effectively relative to its revenue. A detailed breakdown of program vs. administrative costs from the full 990 would provide more specific efficiency metrics.
Filing History
IRS 990 filing history for Gulf Of Maine Research Institute showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2010–2023), Gulf Of Maine Research Institute's revenue has grown by 89.2%, moving from $10.2M to $19.4M. Total assets increased by 348.9% over the same period, from $11.2M to $50.4M. Total functional expenses rose by 110.3%, from $7.3M to $15.4M. In its most recent filing year (2023), Gulf Of Maine Research Institute reported a surplus of $4.0M, with revenue exceeding expenses. The organization holds $15.3M in liabilities against $50.4M in assets (debt-to-asset ratio: 30.4%), resulting in net assets of $35.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $19.4M | $15.4M | $50.4M | $15.3M | — | View 990 |
| 2022 | $15.5M | $13.1M | $45.3M | $15.0M | — | View 990 |
| 2021 | $13.0M | $11.4M | $29.4M | $1.8M | — | View 990 |
| 2020 | $15.9M | $12.1M | $26.2M | $2.2M | — | View 990 |
| 2019 | $13.9M | $10.5M | $22.3M | $1.9M | — | View 990 |
| 2018 | $4.5M | $5.0M | $17.9M | $1.5M | — | View 990 |
| 2017 | $11.5M | $10.1M | $18.2M | $1.4M | — | View 990 |
| 2016 | $10.9M | $9.3M | $15.9M | $1.2M | — | View 990 |
| 2015 | $10.5M | $7.7M | $13.7M | $947K | — | View 990 |
| 2014 | $7.4M | $7.6M | $11.2M | $709K | — | View 990 |
| 2013 | $8.2M | $7.5M | $11.6M | $1.0M | — | View 990 |
| 2012 | $7.7M | $7.8M | $11.4M | $1.8M | — | View 990 |
| 2011 | $8.0M | $8.0M | $10.7M | $1.0M | — | View 990 |
| 2010 | $10.2M | $7.3M | $11.2M | $1.4M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $19.4M, expenses of $15.4M, and assets of $50.4M (revenue +25.0% year-over-year).
- 2022: Revenue of $15.5M, expenses of $13.1M, and assets of $45.3M (revenue +18.7% year-over-year).
- 2021: Revenue of $13.0M, expenses of $11.4M, and assets of $29.4M (revenue -18.2% year-over-year).
- 2020: Revenue of $15.9M, expenses of $12.1M, and assets of $26.2M (revenue +14.3% year-over-year).
- 2019: Revenue of $13.9M, expenses of $10.5M, and assets of $22.3M (revenue +207.2% year-over-year).
- 2018: Revenue of $4.5M, expenses of $5.0M, and assets of $17.9M (revenue -60.7% year-over-year).
- 2017: Revenue of $11.5M, expenses of $10.1M, and assets of $18.2M (revenue +5.6% year-over-year).
- 2016: Revenue of $10.9M, expenses of $9.3M, and assets of $15.9M (revenue +3.8% year-over-year).
- 2015: Revenue of $10.5M, expenses of $7.7M, and assets of $13.7M (revenue +42.1% year-over-year).
- 2014: Revenue of $7.4M, expenses of $7.6M, and assets of $11.2M (revenue -10.2% year-over-year).
- 2013: Revenue of $8.2M, expenses of $7.5M, and assets of $11.6M (revenue +6.6% year-over-year).
- 2012: Revenue of $7.7M, expenses of $7.8M, and assets of $11.4M (revenue -3.5% year-over-year).
- 2011: Revenue of $8.0M, expenses of $8.0M, and assets of $10.7M (revenue -21.7% year-over-year).
- 2010: Revenue of $10.2M, expenses of $7.3M, and assets of $11.2M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Gulf Of Maine Research Institute:
Data Sources and Methodology
This transparency report for Gulf Of Maine Research Institute 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.