Maine Bankers Association
Maine Bankers Association maintains stable finances with consistent revenue and expenses, reporting no officer compensation.
EIN: 10155360 · Westbrook, ME · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $2.8M |
| Total Expenses | $2.7M |
| Program Spending | 70% |
| CEO/Top Officer Pay | $2 |
| Net Assets | $737K |
| Transparency Score | 75/100 |
Is Maine Bankers Association Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Maine Bankers Association directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Maine Bankers Association
Maine Bankers Association (EIN: 10155360) is a nonprofit organization based in Westbrook, ME. The organization reported total revenue of $2.8M and total assets of $2.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Maine Bankers Association's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Maine Bankers Association is a mid-size nonprofit that has been operating for 83 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 4.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.7M |
| Total Expenses | $2.7M |
| Surplus / Deficit | +$51K |
| Total Assets | $2.2M |
| Total Liabilities | $1.5M |
| Net Assets | $737K |
| Operating Margin | 1.9% |
| Debt-to-Asset Ratio | 66.7% |
| Months of Reserves | 10.0 months |
Financial Health Grade: A
In 2023, Maine Bankers Association reported a surplus of $51K with revenue exceeding expenses, holds 10.0 months of operating reserves (strong position), has a debt-to-asset ratio of 66.7% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Maine Bankers Association's revenue has grown at a compound annual growth rate (CAGR) of 4.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -5.6% | -6.0% | -0.4% |
| 2022 | +10.3% | +15.0% | +3.9% |
| 2021 | +8.8% | +7.3% | +6.3% |
| 2020 | -18.5% | -20.1% | +21.5% |
| 2019 | +4.9% | +4.9% | +26.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 1943 |
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 Bankers Association with a Mission Score of 75 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: 20%
- programs: 70%
- fundraising: 10%
According to IRS 990 filings, Maine Bankers Association allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $51K, with revenue exceeding expenses.
- Debt-to-asset ratio: 66.7%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, which is highly unusual for an organization with annual revenues exceeding $2 million. This suggests either that executive compensation is not reported under this specific line item, or that leadership roles are filled by volunteers or compensated through other means not categorized as 'Officer Comp' on the summary.
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 Bankers Association's IRS 990 filings:
- Consistent 0% officer compensation reported, which is unusual for an organization of this size and revenue, potentially obscuring executive pay details.
- NTEE Code is unknown, which limits the ability to compare financial performance against peer organizations in the same sector.
Strengths
The following positive indicators were identified for Maine Bankers Association:
- Consistent revenue generation, averaging over $2.7 million annually over the past decade.
- Stable financial health with assets consistently exceeding liabilities, improving from a liability-heavy position in earlier years.
- Lean operations with expenses closely matching revenues, indicating efficient use of funds and minimal accumulation of excessive reserves.
- Positive trend in net assets, demonstrating financial growth and stability over time.
Frequently Asked Questions about Maine Bankers Association
Is Maine Bankers Association a legitimate charity?
Maine Bankers Association (EIN: 10155360) is a registered tax-exempt nonprofit based in Maine. Our AI analysis gives it a Mission Score of 75/100. It has 13 years of IRS 990 filings on record. Total revenue: $2.8M. 2 red flags identified. 4 strengths noted. Financial health grade: A.
How does Maine Bankers Association spend its money?
Maine Bankers Association directs 70% of its spending to programs and services. Fundraising costs 10%. This meets the 65% industry benchmark.
Are donations to Maine Bankers Association tax-deductible?
Maine Bankers Association is registered as a tax-exempt nonprofit (EIN: 10155360). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Maine Bankers Association CEO make?
Maine Bankers Association's highest-compensated officer earns $2 annually. The organization reported $2.8M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Maine Bankers Association's spending goes to programs?
Maine Bankers Association directs 70% to programs, 10% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
Where is Maine Bankers Association located?
Maine Bankers Association is headquartered in Westbrook, Maine and files with the IRS under EIN 10155360.
How many years of IRS 990 filings does Maine Bankers Association have?
Maine Bankers Association 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 $2.8M in total revenue.
How does the Maine Bankers Association allocate its expenses between program services, administrative costs, and fundraising?
Based on the available summary data, a precise breakdown is not provided. However, given the close alignment of revenues and expenses (e.g., $2,703,164 revenue vs. $2,652,067 expenses in 2023), the organization appears to operate with a lean budget. A detailed analysis of the full IRS 990 forms would be required to determine the exact percentages for programs, administration, and fundraising.
Why is officer compensation consistently reported as 0%?
The consistent reporting of 0% officer compensation across all filings is notable for an organization of this size. This could indicate that executive roles are unpaid, compensated through a related entity, or that compensation is reported under different expense categories on the full 990 form, rather than the 'Officer Comp' line item.
What is the trend in the organization's net assets over the past decade?
The organization's assets have shown a positive trend, increasing from $1,575,665 in 2014 to $2,211,432 in 2023, indicating a steady growth in its financial reserves and overall stability.
Filing History
IRS 990 filing history for Maine Bankers Association showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Maine Bankers Association's revenue has grown by 68%, moving from $1.6M to $2.7M. Total assets increased by 39.4% over the same period, from $1.6M to $2.2M. Total functional expenses rose by 27.7%, from $2.1M to $2.7M. In its most recent filing year (2023), Maine Bankers Association reported a surplus of $51K, with revenue exceeding expenses. The organization holds $1.5M in liabilities against $2.2M in assets (debt-to-asset ratio: 66.7%), resulting in net assets of $737K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $2.7M | $2.7M | $2.2M | $1.5M | — | — |
| 2022 | $2.9M | $2.8M | $2.2M | $1.6M | — | View 990 |
| 2021 | $2.6M | $2.5M | $2.1M | $1.7M | — | View 990 |
| 2020 | $2.4M | $2.3M | $2.0M | $1.7M | — | View 990 |
| 2019 | $2.9M | $2.9M | $1.7M | $1.6M | — | View 990 |
| 2018 | $2.8M | $2.7M | $1.3M | $1.2M | — | View 990 |
| 2017 | $2.7M | $2.7M | $1.5M | $1.5M | — | View 990 |
| 2016 | $3.2M | $3.0M | $1.5M | $1.7M | — | View 990 |
| 2015 | $2.8M | $2.9M | $1.6M | $2.0M | — | View 990 |
| 2014 | $2.8M | $2.8M | $1.6M | $2.1M | — | View 990 |
| 2013 | $2.6M | $2.0M | $1.9M | $1.9M | — | View 990 |
| 2012 | $2.6M | $2.6M | $1.9M | $2.5M | — | View 990 |
| 2011 | $1.6M | $2.1M | $1.6M | $2.2M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.7M, expenses of $2.7M, and assets of $2.2M (revenue -5.6% year-over-year).
- 2022: Revenue of $2.9M, expenses of $2.8M, and assets of $2.2M (revenue +10.3% year-over-year).
- 2021: Revenue of $2.6M, expenses of $2.5M, and assets of $2.1M (revenue +8.8% year-over-year).
- 2020: Revenue of $2.4M, expenses of $2.3M, and assets of $2.0M (revenue -18.5% year-over-year).
- 2019: Revenue of $2.9M, expenses of $2.9M, and assets of $1.7M (revenue +4.9% year-over-year).
- 2018: Revenue of $2.8M, expenses of $2.7M, and assets of $1.3M (revenue +2.8% year-over-year).
- 2017: Revenue of $2.7M, expenses of $2.7M, and assets of $1.5M (revenue -14.4% year-over-year).
- 2016: Revenue of $3.2M, expenses of $3.0M, and assets of $1.5M (revenue +11.8% year-over-year).
- 2015: Revenue of $2.8M, expenses of $2.9M, and assets of $1.6M (revenue +0.0% year-over-year).
- 2014: Revenue of $2.8M, expenses of $2.8M, and assets of $1.6M (revenue +10.3% year-over-year).
- 2013: Revenue of $2.6M, expenses of $2.0M, and assets of $1.9M (revenue -1.6% year-over-year).
- 2012: Revenue of $2.6M, expenses of $2.6M, and assets of $1.9M (revenue +62.4% year-over-year).
- 2011: Revenue of $1.6M, expenses of $2.1M, and assets of $1.6M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Maine Bankers Association:
Data Sources and Methodology
This transparency report for Maine Bankers Association 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.