Maine Aquaculture Innovation Center
Maine Aquaculture Innovation Center shows strong asset growth and no reported executive compensation.
EIN: 10467869 · Walpole, ME · NTEE: K99Z · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $2.5M |
| Total Expenses | $988K |
| Program Spending | 90% |
| CEO/Top Officer Pay | $3 |
| Net Assets | $3.0M |
| Transparency Score | 95/100 |
Is Maine Aquaculture Innovation Center Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Maine Aquaculture Innovation Center directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Maine Aquaculture Innovation Center
Maine Aquaculture Innovation Center (EIN: 10467869) is a nonprofit organization based in Walpole, ME, classified under NTEE code K99Z. The organization reported total revenue of $2.5M and total assets of $4.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Maine Aquaculture Innovation Center's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Maine Aquaculture Innovation Center is a mid-size nonprofit that has been operating for 33 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 8.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.8M |
| Total Expenses | $988K |
| Surplus / Deficit | +$764K |
| Total Assets | $3.1M |
| Total Liabilities | $30K |
| Net Assets | $3.0M |
| Operating Margin | 43.6% |
| Debt-to-Asset Ratio | 1.0% |
| Months of Reserves | 37.1 months |
Financial Health Grade: A
In 2023, Maine Aquaculture Innovation Center reported a surplus of $764K with revenue exceeding expenses, holds 37.1 months of operating reserves (strong position), has a debt-to-asset ratio of 1.0% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Maine Aquaculture Innovation Center's revenue has grown at a compound annual growth rate (CAGR) of 8.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +261.7% | +95.3% | +33.3% |
| 2022 | -69.3% | +2.1% | -1.2% |
| 2021 | +264.4% | +39.0% | +85.7% |
| 2020 | -9.0% | -9.8% | +5.1% |
| 2019 | +11.3% | +20.0% | +5.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1993 |
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 Maine Aquaculture Innovation Center with a Mission Score of 95 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: 90%
- fundraising: 0%
According to IRS 990 filings, Maine Aquaculture Innovation Center allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. With 90% 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 $764K, with revenue exceeding expenses.
- Debt-to-asset ratio: 1.0%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers received compensation from the organization. This is highly unusual for an organization of its size with assets over $3 million and suggests a very lean operational structure or that key leadership roles are filled by volunteers or compensated through other means not reported as officer compensation.
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 Maine Aquaculture Innovation Center's IRS 990 filings:
- Unusually low or zero reported officer compensation for an organization of this size, which might warrant further investigation into how leadership is compensated or sustained.
Strengths
The following positive indicators were identified for Maine Aquaculture Innovation Center:
- Consistent 0% officer compensation, indicating high efficiency in resource allocation.
- Significant and consistent growth in assets over the past decade, from $765,174 in 2014 to $3,054,001 in 2023.
- Healthy financial position with low liabilities relative to assets.
- Regular and consistent IRS 990 filing history, demonstrating transparency.
- Strong revenue generation in recent periods, such as $1,752,040 in 202306.
Frequently Asked Questions about Maine Aquaculture Innovation Center
Is Maine Aquaculture Innovation Center a legitimate charity?
Based on AI analysis of IRS 990 filings, Maine Aquaculture Innovation Center (EIN: 10467869) some concerns. Mission Score: 95/100. 1 red flag identified, 5 strengths noted.
How does Maine Aquaculture Innovation Center spend its money?
Maine Aquaculture Innovation Center directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Maine Aquaculture Innovation Center tax-deductible?
Maine Aquaculture Innovation Center is registered as a tax-exempt nonprofit (EIN: 10467869). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Maine Aquaculture Innovation Center CEO make?
Maine Aquaculture Innovation Center's highest-compensated officer earns $3 annually. The organization reported $2.5M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
How does Maine Aquaculture Innovation Center compare to similar nonprofits?
With a transparency score of 95/100 (Excellent), Maine Aquaculture Innovation Center is above average for NTEE category K99Z nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Maine Aquaculture Innovation Center located?
Maine Aquaculture Innovation Center is headquartered in Walpole, Maine and files with the IRS under EIN 10467869. It is classified under NTEE code K99Z.
How many years of IRS 990 filings does Maine Aquaculture Innovation Center have?
Maine Aquaculture Innovation Center 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 $2.5M in total revenue.
Is Maine Aquaculture Innovation Center a good charity?
Based on the provided data, the Maine Aquaculture Innovation Center appears to be a very good charity. It demonstrates strong financial health with growing assets, no reported officer compensation, and consistent IRS 990 filings, all indicating a high degree of financial efficiency and transparency.
How has the organization's revenue trended over the last few years?
The organization's revenue has shown significant fluctuation but an overall upward trend, with notable spikes. For instance, revenue jumped from $484,359 in 202206 to $1,752,040 in 202306, and from $433,247 in 202006 to $1,578,713 in 202106, indicating successful grant acquisition or project funding.
What is the organization's asset growth like?
The organization has experienced substantial asset growth, increasing from $765,174 in 201406 to $3,054,001 in 202306. This consistent growth in assets suggests strong financial management and an increasing capacity to support its mission.
Does the organization have high liabilities?
No, the organization generally maintains low liabilities relative to its assets. For example, in 202306, liabilities were $30,441 against assets of $3,054,001, indicating a very healthy financial position and minimal debt burden.
Filing History
IRS 990 filing history for Maine Aquaculture Innovation Center showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Maine Aquaculture Innovation Center's revenue has grown by 173%, moving from $642K to $1.8M. Total assets increased by 374.4% over the same period, from $644K to $3.1M. Total functional expenses rose by 349.4%, from $220K to $988K. In its most recent filing year (2023), Maine Aquaculture Innovation Center reported a surplus of $764K, with revenue exceeding expenses. The organization holds $30K in liabilities against $3.1M in assets (debt-to-asset ratio: 1.0%), resulting in net assets of $3.0M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.8M | $988K | $3.1M | $30K | — | — |
| 2022 | $484K | $506K | $2.3M | $30K | — | View 990 |
| 2021 | $1.6M | $496K | $2.3M | $35K | — | View 990 |
| 2020 | $433K | $357K | $1.2M | $49K | — | View 990 |
| 2019 | $476K | $395K | $1.2M | $65K | — | View 990 |
| 2018 | $428K | $329K | $1.1M | $86K | — | View 990 |
| 2017 | $394K | $280K | $1.0M | $81K | — | View 990 |
| 2016 | $210K | $123K | $1.1M | $304K | — | View 990 |
| 2015 | $683K | $657K | $1.3M | $570K | — | View 990 |
| 2014 | $250K | $106K | $765K | $49K | — | View 990 |
| 2013 | $144K | $142K | $631K | $58K | — | View 990 |
| 2012 | $282K | $270K | $720K | $148K | — | View 990 |
| 2011 | $642K | $220K | $644K | $84K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.8M, expenses of $988K, and assets of $3.1M (revenue +261.7% year-over-year).
- 2022: Revenue of $484K, expenses of $506K, and assets of $2.3M (revenue -69.3% year-over-year).
- 2021: Revenue of $1.6M, expenses of $496K, and assets of $2.3M (revenue +264.4% year-over-year).
- 2020: Revenue of $433K, expenses of $357K, and assets of $1.2M (revenue -9.0% year-over-year).
- 2019: Revenue of $476K, expenses of $395K, and assets of $1.2M (revenue +11.3% year-over-year).
- 2018: Revenue of $428K, expenses of $329K, and assets of $1.1M (revenue +8.6% year-over-year).
- 2017: Revenue of $394K, expenses of $280K, and assets of $1.0M (revenue +88.0% year-over-year).
- 2016: Revenue of $210K, expenses of $123K, and assets of $1.1M (revenue -69.3% year-over-year).
- 2015: Revenue of $683K, expenses of $657K, and assets of $1.3M (revenue +173.6% year-over-year).
- 2014: Revenue of $250K, expenses of $106K, and assets of $765K (revenue +73.6% year-over-year).
- 2013: Revenue of $144K, expenses of $142K, and assets of $631K (revenue -49.0% year-over-year).
- 2012: Revenue of $282K, expenses of $270K, and assets of $720K (revenue -56.1% year-over-year).
- 2011: Revenue of $642K, expenses of $220K, and assets of $644K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Maine Aquaculture Innovation Center:
Data Sources and Methodology
This transparency report for Maine Aquaculture Innovation Center 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.