Heart Of Maine United Way
Heart Of Maine United Way maintains stable finances with consistent surpluses and no reported officer compensation.
EIN: 10211478 · Bangor, ME · NTEE: T700 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $2.5M |
| Total Expenses | $2.3M |
| Program Spending | 85% |
| CEO/Top Officer Pay | $2 |
| Net Assets | $4.8M |
| Transparency Score | 90/100 |
Is Heart Of Maine United Way Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Heart Of Maine United Way directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Heart Of Maine United Way
Heart Of Maine United Way (EIN: 10211478) is a nonprofit organization based in Bangor, ME, classified under NTEE code T700. The organization reported total revenue of $2.5M and total assets of $5.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Heart Of Maine United Way's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Heart Of Maine United Way is a mid-size nonprofit that has been operating for 67 years, with 12 years of IRS 990 filings on record (2012–2023). Revenue has grown at a compound annual rate of -2.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.4M |
| Total Expenses | $2.3M |
| Surplus / Deficit | +$125K |
| Total Assets | $5.5M |
| Total Liabilities | $726K |
| Net Assets | $4.8M |
| Operating Margin | 5.1% |
| Debt-to-Asset Ratio | 13.3% |
| Months of Reserves | 28.5 months |
Financial Health Grade: A
In 2023, Heart Of Maine United Way reported a surplus of $125K with revenue exceeding expenses, holds 28.5 months of operating reserves (strong position), has a debt-to-asset ratio of 13.3% (very low leverage).
Financial Trends
Over 12 years of filings (2012–2023), Heart Of Maine United Way's revenue has declined at a compound annual growth rate (CAGR) of -2.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -18.8% | +2.4% | +2.6% |
| 2022 | -7.5% | -14.7% | -11.1% |
| 2021 | +17.8% | +-0.0% | +13.6% |
| 2020 | +17.4% | +17.2% | -2.3% |
| 2019 | +0.6% | -3.2% | -1.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1959 |
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 Heart Of Maine United Way with a Mission Score of 90 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, Heart Of Maine United Way 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 $125K, with revenue exceeding expenses.
- Debt-to-asset ratio: 13.3%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that no salaries are paid to officers, which is highly unusual and suggests a volunteer-led or extremely lean executive structure for an organization with over $2 million in annual revenue.
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 Heart Of Maine United Way's IRS 990 filings:
- Unusually low or 0% reported officer compensation may indicate incomplete reporting or a highly unusual operational model for an organization of this size, warranting further investigation into how leadership is compensated or structured.
Strengths
The following positive indicators were identified for Heart Of Maine United Way:
- Consistent financial surpluses, such as $124,735 in 2023 ($2,428,940 revenue - $2,304,205 expenses), demonstrating sound financial management.
- Strong asset base, consistently above $5 million, providing financial resilience.
- Zero reported officer compensation across all filings, indicating a high dedication of funds to programs.
- Stable revenue streams over a decade, showing consistent donor support.
- Manageable liabilities relative to assets, indicating good financial health.
Frequently Asked Questions about Heart Of Maine United Way
Is Heart Of Maine United Way a legitimate charity?
Based on AI analysis of IRS 990 filings, Heart Of Maine United Way (EIN: 10211478) some concerns. Mission Score: 90/100. 1 red flag identified, 5 strengths noted.
How does Heart Of Maine United Way spend its money?
Heart Of Maine United Way directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Heart Of Maine United Way tax-deductible?
Heart Of Maine United Way is registered as a tax-exempt nonprofit (EIN: 10211478). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Heart Of Maine United Way CEO make?
Heart Of Maine United Way's highest-compensated officer earns $2 annually. The organization reported $2.5M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Heart Of Maine United Way's spending goes to programs?
Heart Of Maine United Way directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Heart Of Maine United Way compare to similar nonprofits?
With a transparency score of 90/100 (Excellent), Heart Of Maine United Way is above average for NTEE category T700 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Heart Of Maine United Way located?
Heart Of Maine United Way is headquartered in Bangor, Maine and files with the IRS under EIN 10211478. It is classified under NTEE code T700.
How many years of IRS 990 filings does Heart Of Maine United Way have?
Heart Of Maine United Way has 12 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 $2.5M in total revenue.
Is Heart Of Maine United Way a good charity?
Based on the provided data, Heart Of Maine United Way appears to be a good charity. They consistently operate with a surplus, maintain strong asset levels, and notably report 0% officer compensation, suggesting a high dedication of funds to their mission.
How has Heart Of Maine United Way's revenue trended over the last few years?
Heart Of Maine United Way's revenue has fluctuated but remained relatively stable, ranging from a high of $3,233,718 in 2021 to $2,428,940 in 2023, indicating consistent donor support.
What is the organization's financial stability?
The organization demonstrates strong financial stability with assets consistently over $5 million (e.g., $5,478,549 in 2023) and liabilities that are a manageable portion of assets (e.g., $725,974 in 2023), indicating a healthy balance sheet.
Filing History
IRS 990 filing history for Heart Of Maine United Way showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2012–2023), Heart Of Maine United Way's revenue has declined by 20.6%, moving from $3.1M to $2.4M. Total assets decreased by 3.6% over the same period, from $5.7M to $5.5M. Total functional expenses fell by 23.3%, from $3.0M to $2.3M. In its most recent filing year (2023), Heart Of Maine United Way reported a surplus of $125K, with revenue exceeding expenses. The organization holds $726K in liabilities against $5.5M in assets (debt-to-asset ratio: 13.3%), resulting in net assets of $4.8M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $2.4M | $2.3M | $5.5M | $726K | — | View 990 |
| 2022 | $3.0M | $2.3M | $5.3M | $688K | — | View 990 |
| 2021 | $3.2M | $2.6M | $6.0M | $636K | — | View 990 |
| 2020 | $2.7M | $2.6M | $5.3M | $597K | — | View 990 |
| 2019 | $2.3M | $2.3M | $5.4M | $586K | — | View 990 |
| 2018 | $2.3M | $2.3M | $5.5M | $615K | — | View 990 |
| 2017 | $2.4M | $2.2M | $5.5M | $582K | — | View 990 |
| 2016 | $2.2M | $2.2M | $5.1M | $528K | — | View 990 |
| 2015 | $2.3M | $2.2M | $5.3M | $511K | — | View 990 |
| 2014 | $3.1M | $3.0M | $5.8M | $918K | — | View 990 |
| 2013 | $2.8M | $3.0M | $5.7M | $1.1M | — | View 990 |
| 2012 | $3.1M | $3.0M | $5.7M | $1.1M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.4M, expenses of $2.3M, and assets of $5.5M (revenue -18.8% year-over-year).
- 2022: Revenue of $3.0M, expenses of $2.3M, and assets of $5.3M (revenue -7.5% year-over-year).
- 2021: Revenue of $3.2M, expenses of $2.6M, and assets of $6.0M (revenue +17.8% year-over-year).
- 2020: Revenue of $2.7M, expenses of $2.6M, and assets of $5.3M (revenue +17.4% year-over-year).
- 2019: Revenue of $2.3M, expenses of $2.3M, and assets of $5.4M (revenue +0.6% year-over-year).
- 2018: Revenue of $2.3M, expenses of $2.3M, and assets of $5.5M (revenue -4.2% year-over-year).
- 2017: Revenue of $2.4M, expenses of $2.2M, and assets of $5.5M (revenue +8.4% year-over-year).
- 2016: Revenue of $2.2M, expenses of $2.2M, and assets of $5.1M (revenue -4.0% year-over-year).
- 2015: Revenue of $2.3M, expenses of $2.2M, and assets of $5.3M (revenue -23.7% year-over-year).
- 2014: Revenue of $3.1M, expenses of $3.0M, and assets of $5.8M (revenue +7.6% year-over-year).
- 2013: Revenue of $2.8M, expenses of $3.0M, and assets of $5.7M (revenue -7.1% year-over-year).
- 2012: Revenue of $3.1M, expenses of $3.0M, and assets of $5.7M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Heart Of Maine United Way:
Data Sources and Methodology
This transparency report for Heart Of Maine United Way 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.