Maine Association Of Retirees Inc
Maine Association Of Retirees Inc consistently grows assets with zero reported officer compensation.
EIN: 10370896 · Augusta, ME · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $559K |
| Total Expenses | $359K |
| Program Spending | 85% |
| CEO/Top Officer Pay | $1 |
| Net Assets | $1.0M |
| Transparency Score | 88/100 |
Is Maine Association Of Retirees Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Maine Association Of Retirees Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Maine Association Of Retirees Inc
Maine Association Of Retirees Inc (EIN: 10370896) is a nonprofit organization based in Augusta, ME. The organization reported total revenue of $559K and total assets of $1.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Maine Association Of Retirees Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Maine Association Of Retirees Inc is a small nonprofit that has been operating for 42 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 2.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $401K |
| Total Expenses | $359K |
| Surplus / Deficit | +$42K |
| Total Assets | $1.0M |
| Total Liabilities | $14K |
| Net Assets | $1.0M |
| Operating Margin | 10.5% |
| Debt-to-Asset Ratio | 1.3% |
| Months of Reserves | 34.4 months |
Financial Health Grade: A
In 2023, Maine Association Of Retirees Inc reported a surplus of $42K with revenue exceeding expenses, holds 34.4 months of operating reserves (strong position), has a debt-to-asset ratio of 1.3% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Maine Association Of Retirees Inc's revenue has grown at a compound annual growth rate (CAGR) of 2.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -1.3% | -5.9% | +3.8% |
| 2022 | -5.8% | +16.6% | +2.8% |
| 2021 | +1.3% | -2.4% | +11.8% |
| 2020 | +5.2% | +2.6% | +12.0% |
| 2019 | +20.7% | +15.2% | +11.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1984 |
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 Association Of Retirees Inc with a Mission Score of 88 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, Maine Association Of Retirees Inc 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 $42K, with revenue exceeding expenses.
- Debt-to-asset ratio: 1.3%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that its leadership may be entirely volunteer-based or compensated through non-officer categories, which is highly unusual for an organization of its size with over $1 million in assets.
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 Association Of Retirees Inc's IRS 990 filings:
- Lack of detailed spending breakdown (program, admin, fundraising) in provided data
- Unusually consistent 0% officer compensation, which might obscure actual leadership costs if categorized elsewhere
Strengths
The following positive indicators were identified for Maine Association Of Retirees Inc:
- Consistent asset growth, from $519,581 in 2014 to $1,028,363 in 2023, indicating strong financial management.
- Positive operating margins, with revenues consistently exceeding expenses (e.g., $400,771 revenue vs. $358,529 expenses in 2023).
- Zero reported officer compensation across all filings, suggesting a highly efficient or volunteer-driven leadership structure.
- Strong financial stability with over $1 million in assets and low liabilities ($13,575 in 2023).
Frequently Asked Questions about Maine Association Of Retirees Inc
Is Maine Association Of Retirees Inc a legitimate charity?
Maine Association Of Retirees Inc (EIN: 10370896) is a registered tax-exempt nonprofit based in Maine. Our AI analysis gives it a Mission Score of 88/100. It has 13 years of IRS 990 filings on record. Total revenue: $559K. 2 red flags identified. 4 strengths noted. Financial health grade: A.
How does Maine Association Of Retirees Inc spend its money?
Maine Association Of Retirees Inc directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Maine Association Of Retirees Inc tax-deductible?
Maine Association Of Retirees Inc is registered as a tax-exempt nonprofit (EIN: 10370896). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Maine Association Of Retirees Inc CEO make?
Maine Association Of Retirees Inc's highest-compensated officer earns $1 annually. The organization reported $559K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Maine Association Of Retirees Inc's spending goes to programs?
Maine Association Of Retirees Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Maine Association Of Retirees Inc located?
Maine Association Of Retirees Inc is headquartered in Augusta, Maine and files with the IRS under EIN 10370896.
How many years of IRS 990 filings does Maine Association Of Retirees Inc have?
Maine Association Of Retirees Inc 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 $559K in total revenue.
How does the organization manage to operate with 0% reported officer compensation?
The IRS 990 filings consistently show 0% officer compensation, which could mean that executive roles are filled by volunteers, or compensation is categorized differently (e.g., as staff salaries rather than officer compensation), or it's a very lean, member-driven organization where leadership serves without direct pay.
What are the specific programs and services provided by the Maine Association Of Retirees Inc?
The provided financial data does not detail specific programs. To understand the organization's mission and activities, one would need to review the full IRS 990 form, particularly Part III (Statement of Program Service Accomplishments), or visit their official website.
What is the primary source of the organization's revenue?
The summary data indicates consistent revenue generation, but does not specify the sources (e.g., membership dues, investments, grants). The full IRS 990 would provide this detail in Part VIII (Statement of Revenue).
Filing History
IRS 990 filing history for Maine Association Of Retirees Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Maine Association Of Retirees Inc's revenue has grown by 33.4%, moving from $300K to $401K. Total assets increased by 109.7% over the same period, from $490K to $1.0M. Total functional expenses rose by 14.6%, from $313K to $359K. In its most recent filing year (2023), Maine Association Of Retirees Inc reported a surplus of $42K, with revenue exceeding expenses. The organization holds $14K in liabilities against $1.0M in assets (debt-to-asset ratio: 1.3%), resulting in net assets of $1.0M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $401K | $359K | $1.0M | $14K | — | View 990 |
| 2022 | $406K | $381K | $990K | $18K | — | View 990 |
| 2021 | $431K | $327K | $964K | $16K | — | View 990 |
| 2020 | $425K | $335K | $862K | $19K | — | — |
| 2019 | $404K | $326K | $770K | $18K | — | View 990 |
| 2018 | $335K | $283K | $690K | $16K | — | View 990 |
| 2017 | $343K | $311K | $639K | $16K | — | View 990 |
| 2016 | $363K | $315K | $613K | $23K | — | View 990 |
| 2015 | $354K | $313K | $566K | $24K | — | View 990 |
| 2014 | $354K | $309K | $520K | $19K | — | View 990 |
| 2013 | $307K | $306K | $475K | $29K | — | View 990 |
| 2012 | $301K | $320K | $472K | $27K | — | View 990 |
| 2011 | $300K | $313K | $490K | $26K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $401K, expenses of $359K, and assets of $1.0M (revenue -1.3% year-over-year).
- 2022: Revenue of $406K, expenses of $381K, and assets of $990K (revenue -5.8% year-over-year).
- 2021: Revenue of $431K, expenses of $327K, and assets of $964K (revenue +1.3% year-over-year).
- 2020: Revenue of $425K, expenses of $335K, and assets of $862K (revenue +5.2% year-over-year).
- 2019: Revenue of $404K, expenses of $326K, and assets of $770K (revenue +20.7% year-over-year).
- 2018: Revenue of $335K, expenses of $283K, and assets of $690K (revenue -2.3% year-over-year).
- 2017: Revenue of $343K, expenses of $311K, and assets of $639K (revenue -5.6% year-over-year).
- 2016: Revenue of $363K, expenses of $315K, and assets of $613K (revenue +2.5% year-over-year).
- 2015: Revenue of $354K, expenses of $313K, and assets of $566K (revenue +0.2% year-over-year).
- 2014: Revenue of $354K, expenses of $309K, and assets of $520K (revenue +15.4% year-over-year).
- 2013: Revenue of $307K, expenses of $306K, and assets of $475K (revenue +1.9% year-over-year).
- 2012: Revenue of $301K, expenses of $320K, and assets of $472K (revenue +0.1% year-over-year).
- 2011: Revenue of $300K, expenses of $313K, and assets of $490K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Maine Association Of Retirees Inc:
Data Sources and Methodology
This transparency report for Maine Association Of Retirees Inc 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.