Maine Aquaculture Innovation Center

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Maine Aquaculture Innovation Center Form 990, Revenue, CEO Pay, and IRS Filing Signals

Maine Aquaculture Innovation Center is surfaced here as a decision-ready nonprofit financial profile, not just a charity listing. The page consolidates IRS Form 990 revenue, expenses, assets, tax-exempt classification, executive compensation, mission score, red flags, and year-by-year filing history so donors, researchers, journalists, and grant teams can answer the common search questions around Maine Aquaculture Innovation Center in one place.

Is Maine Aquaculture Innovation Center Legit?

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Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →

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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:

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%.

IRS Tax-Exempt Classification

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

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-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.