Hospitality Maine Education Foundation
Hospitality Maine Education Foundation experiences revenue growth but reports a deficit in its latest filing period.
EIN: 10421242 · Augusta, ME · NTEE: Z99Z · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $117K |
| Total Expenses | $376K |
| Program Spending | 75% |
| CEO/Top Officer Pay | $300,000. |
| Net Assets | $294K |
| Transparency Score | 70/100 |
Is Hospitality Maine Education Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Hospitality Maine Education Foundation directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Hospitality Maine Education Foundation
Hospitality Maine Education Foundation (EIN: 10421242) is a nonprofit organization based in Augusta, ME, classified under NTEE code Z99Z. The organization reported total revenue of $117K and total assets of $297K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Hospitality Maine Education Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Hospitality Maine Education Foundation is a small nonprofit that has been operating for 39 years, with 5 years of IRS 990 filings on record (2019–2023). Revenue has grown at a compound annual rate of 52.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $340K |
| Total Expenses | $376K |
| Surplus / Deficit | $-35,860 |
| Total Assets | $294K |
| Total Liabilities | $772 |
| Net Assets | $294K |
| Operating Margin | -10.5% |
| Debt-to-Asset Ratio | 0.3% |
| Months of Reserves | 9.4 months |
Financial Health Grade: B
In 2023, Hospitality Maine Education Foundation reported a deficit of $36K with expenses exceeding revenue, holds 9.4 months of operating reserves (strong position), has a debt-to-asset ratio of 0.3% (very low leverage).
Financial Trends
Over 5 years of filings (2019–2023), Hospitality Maine Education Foundation's revenue has grown at a compound annual growth rate (CAGR) of 52.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +78.7% | +183.3% | -6.1% |
| 2022 | +95.6% | -3.0% | -0.1% |
| 2021 | -45.2% | -14.1% | -5.3% |
| 2020 | +181.5% | +84.6% | +12.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1987 |
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 Hospitality Maine Education Foundation with a Mission Score of 70 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: 15%
- programs: 75%
- fundraising: 10%
According to IRS 990 filings, Hospitality Maine Education Foundation allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% 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 deficit of $36K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.3%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all five filing periods, indicating that no officers received compensation, which is a strong positive for a small organization of this size with assets around $300,000.
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 Hospitality Maine Education Foundation's IRS 990 filings:
- Expenses exceeded revenue in the latest filing period (202312), indicating a deficit ($376,126 expenses vs. $340,266 revenue).
- Inconsistent financial performance with expenses exceeding revenue in multiple periods (202312, 202112, 201912).
- NTEE code Z99Z (Unknown) may indicate a lack of specific classification or transparency regarding programmatic focus.
Strengths
The following positive indicators were identified for Hospitality Maine Education Foundation:
- Consistent 0% officer compensation across all five filing periods, indicating efficient use of funds at the executive level.
- Significant revenue growth in the latest period (202312 revenue of $340,266, up from $190,450 in 202212).
- Stable asset base around $300,000 provides some financial stability.
Frequently Asked Questions about Hospitality Maine Education Foundation
Is Hospitality Maine Education Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Hospitality Maine Education Foundation (EIN: 10421242) some concerns. Mission Score: 70/100. 3 red flags identified, 3 strengths noted.
How does Hospitality Maine Education Foundation spend its money?
Hospitality Maine Education Foundation directs 75% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Hospitality Maine Education Foundation tax-deductible?
Hospitality Maine Education Foundation is registered as a tax-exempt nonprofit (EIN: 10421242). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Hospitality Maine Education Foundation CEO make?
Hospitality Maine Education Foundation's highest-compensated officer earns $300,000. annually. The organization reported $117K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Hospitality Maine Education Foundation's spending goes to programs?
Hospitality Maine Education Foundation directs 75% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Hospitality Maine Education Foundation compare to similar nonprofits?
With a transparency score of 70/100 (Good), Hospitality Maine Education Foundation is above average for NTEE category Z99Z nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Hospitality Maine Education Foundation located?
Hospitality Maine Education Foundation is headquartered in Augusta, Maine and files with the IRS under EIN 10421242. It is classified under NTEE code Z99Z.
How many years of IRS 990 filings does Hospitality Maine Education Foundation have?
Hospitality Maine Education Foundation has 5 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 $117K in total revenue.
What is the specific breakdown of program, administrative, and fundraising expenses for the latest period?
The provided data does not offer a detailed breakdown of expenses into program, administrative, and fundraising categories, making it difficult to fully assess spending efficiency beyond the overall expense figures.
What caused the significant increase in expenses in the 202312 period, leading to a deficit?
The summary data does not specify the reasons for the $376,126 in expenses in 202312, which exceeded the $340,266 in revenue for that period. Further review of the full IRS 990 filing would be needed to understand the nature of these expenditures.
What are the specific programs and activities undertaken by the Hospitality Maine Education Foundation?
The NTEE code Z99Z (Unknown) and the provided financial summary do not detail the specific programs or activities of the organization. A review of their website or full 990 filing would be necessary to understand their programmatic focus.
Filing History
IRS 990 filing history for Hospitality Maine Education Foundation showing financial trends over 5 years of public records:
Over 5 years of IRS 990 filings (2019–2023), Hospitality Maine Education Foundation's revenue has grown by 439%, moving from $63K to $340K. Total assets increased by 0.3% over the same period, from $294K to $294K. Total functional expenses rose by 335.6%, from $86K to $376K. In its most recent filing year (2023), Hospitality Maine Education Foundation reported a deficit of $36K, with expenses exceeding revenue. The organization holds $772 in liabilities against $294K in assets (debt-to-asset ratio: 0.3%), resulting in net assets of $294K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $340K | $376K | $294K | $772 | — | — |
| 2022 | $190K | $133K | $314K | $0 | — | View 990 |
| 2021 | $97K | $137K | $314K | $0 | — | View 990 |
| 2020 | $178K | $159K | $332K | $0 | — | View 990 |
| 2019 | $63K | $86K | $294K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $340K, expenses of $376K, and assets of $294K (revenue +78.7% year-over-year).
- 2022: Revenue of $190K, expenses of $133K, and assets of $314K (revenue +95.6% year-over-year).
- 2021: Revenue of $97K, expenses of $137K, and assets of $314K (revenue -45.2% year-over-year).
- 2020: Revenue of $178K, expenses of $159K, and assets of $332K (revenue +181.5% year-over-year).
- 2019: Revenue of $63K, expenses of $86K, and assets of $294K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Hospitality Maine Education Foundation:
Data Sources and Methodology
This transparency report for Hospitality Maine Education Foundation 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.