Mad Horse Theatre Company
Mad Horse Theatre Company maintains stable operations with zero liabilities despite fluctuating revenues.
EIN: 10422341 · S Portland, ME · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $118K |
| Total Expenses | $108K |
| Program Spending | 80% |
| Net Assets | $90K |
| Transparency Score | 85/100 |
Is Mad Horse Theatre Company Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Mad Horse Theatre Company directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Mad Horse Theatre Company
Mad Horse Theatre Company (EIN: 10422341) is a nonprofit organization based in S Portland, ME. The organization reported total revenue of $118K and total assets of $84K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Mad Horse Theatre Company's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Mad Horse Theatre Company is a small nonprofit that has been operating for 39 years, with 13 years of IRS 990 filings on record (2012–2024). Revenue has grown at a compound annual rate of 1.4%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $96K |
| Total Expenses | $108K |
| Surplus / Deficit | $-11,195 |
| Total Assets | $90K |
| Net Assets | $90K |
| Operating Margin | -11.6% |
| Months of Reserves | 10.1 months |
Financial Health Grade: B
In 2024, Mad Horse Theatre Company reported a deficit of $11K with expenses exceeding revenue, holds 10.1 months of operating reserves (strong position).
Financial Trends
Over 13 years of filings (2012–2024), Mad Horse Theatre Company's revenue has grown at a compound annual growth rate (CAGR) of 1.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | -2.5% | -3.4% | -10.7% |
| 2023 | +71.4% | +17.7% | +4.9% |
| 2022 | +1.3% | +129.3% | -20.6% |
| 2021 | -17.4% | -49.0% | +38.2% |
| 2020 | -27.7% | -15.5% | -8.5% |
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 Mad Horse Theatre Company 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: 10%
- programs: 80%
- fundraising: 10%
According to IRS 990 filings, Mad Horse Theatre Company allocates its expenses as follows: admin: 10%, programs: 80%, fundraising: 10%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $11K, with expenses exceeding revenue.
Executive Compensation Analysis
Executive compensation is consistently reported at 0% across all filings, indicating that the organization's leadership is either entirely volunteer-based or compensated below the IRS reporting threshold, which suggests resources are not being diverted to high executive salaries.
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 Mad Horse Theatre Company's IRS 990 filings:
- Occasional deficit spending (e.g., 202406, 202306, 202206, 202006, 201906, 201806) where expenses exceeded revenue.
Strengths
The following positive indicators were identified for Mad Horse Theatre Company:
- Consistent reporting of zero liabilities in recent years (202406-202106), indicating a strong balance sheet.
- Long history of IRS 990 filings (13 total), demonstrating strong transparency.
- Consistent 0% officer compensation, suggesting resources are directed towards the mission.
- Stable asset base despite revenue fluctuations.
Frequently Asked Questions about Mad Horse Theatre Company
Is Mad Horse Theatre Company a legitimate charity?
Mad Horse Theatre Company (EIN: 10422341) is a registered tax-exempt nonprofit based in Maine. Our AI analysis gives it a Mission Score of 85/100. It has 13 years of IRS 990 filings on record. Total revenue: $118K. 1 red flag identified. 4 strengths noted. Financial health grade: B.
How does Mad Horse Theatre Company spend its money?
Mad Horse Theatre Company directs 80% of its spending to programs and services. Fundraising costs 10%. This exceeds the 65% industry benchmark.
Are donations to Mad Horse Theatre Company tax-deductible?
Mad Horse Theatre Company is registered as a tax-exempt nonprofit (EIN: 10422341). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Mad Horse Theatre Company's spending goes to programs?
Mad Horse Theatre Company directs 80% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Mad Horse Theatre Company located?
Mad Horse Theatre Company is headquartered in S Portland, Maine and files with the IRS under EIN 10422341.
How many years of IRS 990 filings does Mad Horse Theatre Company have?
Mad Horse Theatre Company 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 $118K in total revenue.
Is Mad Horse Theatre Company financially stable?
Yes, despite some years of deficit spending (e.g., 202406 with $107,673 expenses vs $96,478 revenue), the organization has maintained a stable asset base (currently $84,111) and consistently reported zero liabilities in recent years, indicating good financial health.
How transparent is Mad Horse Theatre Company?
The organization is highly transparent, with 13 IRS 990 filings available, demonstrating a long history of public financial disclosure.
Does Mad Horse Theatre Company pay its officers?
According to all available IRS 990 filings, officer compensation is reported as 0%, suggesting a volunteer-led structure or compensation below reporting thresholds.
What is the trend in Mad Horse Theatre Company's revenue?
Revenue has fluctuated over the years, ranging from a low of $56,976 in 202106 to a high of $100,459 in 201606, with the latest reported revenue at $96,478.
Filing History
IRS 990 filing history for Mad Horse Theatre Company showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2012–2024), Mad Horse Theatre Company's revenue has grown by 17.9%, moving from $82K to $96K. Total assets increased by 341.8% over the same period, from $20K to $90K. Total functional expenses rose by 32.5%, from $81K to $108K. In its most recent filing year (2024), Mad Horse Theatre Company reported a deficit of $11K, with expenses exceeding revenue.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $96K | $108K | $90K | $0 | — | — |
| 2023 | $99K | $111K | $101K | $0 | — | View 990 |
| 2022 | $58K | $95K | $96K | $0 | — | View 990 |
| 2021 | $57K | $41K | $121K | $0 | — | View 990 |
| 2020 | $69K | $81K | $88K | $0 | — | View 990 |
| 2019 | $95K | $96K | $96K | $2K | — | View 990 |
| 2018 | $73K | $93K | $97K | $2K | — | View 990 |
| 2017 | $93K | $87K | $111K | $5K | — | View 990 |
| 2016 | $100K | $85K | $106K | $9K | — | View 990 |
| 2015 | $86K | $76K | $89K | $8K | — | View 990 |
| 2014 | $91K | $74K | $79K | $8K | — | View 990 |
| 2013 | $95K | $59K | $58K | $4K | — | View 990 |
| 2012 | $82K | $81K | $20K | $2K | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $96K, expenses of $108K, and assets of $90K (revenue -2.5% year-over-year).
- 2023: Revenue of $99K, expenses of $111K, and assets of $101K (revenue +71.4% year-over-year).
- 2022: Revenue of $58K, expenses of $95K, and assets of $96K (revenue +1.3% year-over-year).
- 2021: Revenue of $57K, expenses of $41K, and assets of $121K (revenue -17.4% year-over-year).
- 2020: Revenue of $69K, expenses of $81K, and assets of $88K (revenue -27.7% year-over-year).
- 2019: Revenue of $95K, expenses of $96K, and assets of $96K (revenue +30.7% year-over-year).
- 2018: Revenue of $73K, expenses of $93K, and assets of $97K (revenue -21.3% year-over-year).
- 2017: Revenue of $93K, expenses of $87K, and assets of $111K (revenue -7.7% year-over-year).
- 2016: Revenue of $100K, expenses of $85K, and assets of $106K (revenue +16.5% year-over-year).
- 2015: Revenue of $86K, expenses of $76K, and assets of $89K (revenue -5.6% year-over-year).
- 2014: Revenue of $91K, expenses of $74K, and assets of $79K (revenue -3.7% year-over-year).
- 2013: Revenue of $95K, expenses of $59K, and assets of $58K (revenue +15.8% year-over-year).
- 2012: Revenue of $82K, expenses of $81K, and assets of $20K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Mad Horse Theatre Company:
Data Sources and Methodology
This transparency report for Mad Horse Theatre Company 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.