Maine College Of Art
Maine College Of Art shows consistent financial growth and zero reported officer compensation over a decade.
EIN: 10378758 · Portland, ME · NTEE: B420 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $30.4M |
| Total Expenses | $25.8M |
| Program Spending | 85% |
| CEO/Top Officer Pay | $50 |
| Net Assets | $32.6M |
| Transparency Score | 92/100 |
Is Maine College Of Art Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Maine College Of Art directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Maine College Of Art
Maine College Of Art (EIN: 10378758) is a nonprofit organization based in Portland, ME, classified under NTEE code B420. The organization reported total revenue of $30.4M and total assets of $49.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Maine College Of Art's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Maine College Of Art is a large nonprofit that has been operating for 44 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 6.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $26.1M |
| Total Expenses | $25.8M |
| Surplus / Deficit | +$267K |
| Total Assets | $47.9M |
| Total Liabilities | $15.2M |
| Net Assets | $32.6M |
| Operating Margin | 1.0% |
| Debt-to-Asset Ratio | 31.8% |
| Months of Reserves | 22.2 months |
Financial Health Grade: A
In 2023, Maine College Of Art reported a surplus of $267K with revenue exceeding expenses, holds 22.2 months of operating reserves (strong position), has a debt-to-asset ratio of 31.8% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), Maine College Of Art's revenue has grown at a compound annual growth rate (CAGR) of 6.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -10.8% | +3.7% | +13.7% |
| 2022 | +12.5% | +9.0% | -0.1% |
| 2021 | +11.3% | -0.6% | +22.1% |
| 2020 | +4.7% | +5.9% | +7.0% |
| 2019 | +0.7% | -0.8% | +4.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 1982 |
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 College Of Art with a Mission Score of 92 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 College Of Art 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 $267K, with revenue exceeding expenses.
- Debt-to-asset ratio: 31.8%.
Executive Compensation Analysis
Maine College Of Art consistently reports 0% officer compensation across all 10 available IRS 990 filings, indicating that no compensation was paid to officers, directors, trustees, or key employees, which is highly unusual for an organization of its size with assets nearing $50 million.
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 College Of Art's IRS 990 filings:
- Unusually low (0%) reported officer compensation, which may indicate compensation is reported elsewhere or structured in a non-standard way for an organization of this size.
Strengths
The following positive indicators were identified for Maine College Of Art:
- Consistent revenue growth over the past decade, from $19,121,874 in 2014 to $26,110,572 in 2023.
- Healthy and growing asset base, increasing from $29,545,846 in 2014 to $47,873,713 in 2023.
- Consistent operational surpluses, demonstrating sound financial management (e.g., $266,741 surplus in 2023).
- Exceptional transparency regarding executive compensation, reporting 0% officer compensation across all filings.
Frequently Asked Questions about Maine College Of Art
Is Maine College Of Art a legitimate charity?
Based on AI analysis of IRS 990 filings, Maine College Of Art (EIN: 10378758) some concerns. Mission Score: 92/100. 1 red flag identified, 4 strengths noted.
How does Maine College Of Art spend its money?
Maine College Of Art directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Maine College Of Art tax-deductible?
Maine College Of Art is registered as a tax-exempt nonprofit (EIN: 10378758). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Maine College Of Art CEO make?
Maine College Of Art's highest-compensated officer earns $50 annually. The organization reported $30.4M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Maine College Of Art's spending goes to programs?
Maine College Of Art directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Maine College Of Art compare to similar nonprofits?
With a transparency score of 92/100 (Excellent), Maine College Of Art is above average for NTEE category B420 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Maine College Of Art located?
Maine College Of Art is headquartered in Portland, Maine and files with the IRS under EIN 10378758. It is classified under NTEE code B420.
How many years of IRS 990 filings does Maine College Of Art have?
Maine College Of Art 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 $30.4M in total revenue.
How does Maine College Of Art manage to report 0% officer compensation?
The IRS 990 filings consistently show 0% officer compensation. This could mean that executive leadership is compensated through a related organization, or that the roles are entirely volunteer-based, which would be highly unusual for an institution of this scale. Further investigation into specific compensation practices would be needed to fully understand this.
Is the growth in liabilities a concern for Maine College Of Art?
While liabilities have increased from $10,033,454 in 2014 to $15,230,047 in 2023, assets have grown at a faster rate, from $29,545,846 to $47,873,713 over the same period. The asset-to-liability ratio remains healthy, suggesting the growth in liabilities is likely tied to strategic investments or operational expansion rather than financial distress.
What is the trend in Maine College Of Art's net assets?
Maine College Of Art has shown consistent growth in net assets. For example, net assets increased from $19,512,428 ($29,545,846 assets - $10,033,454 liabilities) in 2014 to $32,643,666 ($47,873,713 assets - $15,230,047 liabilities) in 2023, indicating strong financial health and accumulation of resources.
Filing History
IRS 990 filing history for Maine College Of Art showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Maine College Of Art's revenue has grown by 100.9%, moving from $13.0M to $26.1M. Total assets increased by 112.2% over the same period, from $22.6M to $47.9M. Total functional expenses rose by 96.2%, from $13.2M to $25.8M. In its most recent filing year (2023), Maine College Of Art reported a surplus of $267K, with revenue exceeding expenses. The organization holds $15.2M in liabilities against $47.9M in assets (debt-to-asset ratio: 31.8%), resulting in net assets of $32.6M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $26.1M | $25.8M | $47.9M | $15.2M | — | View 990 |
| 2022 | $29.3M | $24.9M | $42.1M | $10.9M | — | View 990 |
| 2021 | $26.0M | $22.9M | $42.2M | $12.9M | — | View 990 |
| 2020 | $23.4M | $23.0M | $34.5M | $11.1M | — | View 990 |
| 2019 | $22.3M | $21.7M | $32.3M | $9.3M | — | View 990 |
| 2018 | $22.2M | $21.9M | $30.8M | $8.3M | — | View 990 |
| 2017 | $22.9M | $20.4M | $30.4M | $8.6M | — | View 990 |
| 2016 | $19.4M | $19.0M | $29.2M | $9.0M | — | View 990 |
| 2015 | $18.3M | $17.7M | $29.6M | $9.6M | — | View 990 |
| 2014 | $19.1M | $16.0M | $29.5M | $10.0M | — | View 990 |
| 2013 | $14.6M | $14.7M | $26.0M | $10.3M | — | View 990 |
| 2012 | $14.8M | $14.1M | $26.0M | $10.7M | — | View 990 |
| 2011 | $13.0M | $13.2M | $22.6M | $7.5M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $26.1M, expenses of $25.8M, and assets of $47.9M (revenue -10.8% year-over-year).
- 2022: Revenue of $29.3M, expenses of $24.9M, and assets of $42.1M (revenue +12.5% year-over-year).
- 2021: Revenue of $26.0M, expenses of $22.9M, and assets of $42.2M (revenue +11.3% year-over-year).
- 2020: Revenue of $23.4M, expenses of $23.0M, and assets of $34.5M (revenue +4.7% year-over-year).
- 2019: Revenue of $22.3M, expenses of $21.7M, and assets of $32.3M (revenue +0.7% year-over-year).
- 2018: Revenue of $22.2M, expenses of $21.9M, and assets of $30.8M (revenue -3.1% year-over-year).
- 2017: Revenue of $22.9M, expenses of $20.4M, and assets of $30.4M (revenue +18.1% year-over-year).
- 2016: Revenue of $19.4M, expenses of $19.0M, and assets of $29.2M (revenue +5.8% year-over-year).
- 2015: Revenue of $18.3M, expenses of $17.7M, and assets of $29.6M (revenue -4.1% year-over-year).
- 2014: Revenue of $19.1M, expenses of $16.0M, and assets of $29.5M (revenue +30.8% year-over-year).
- 2013: Revenue of $14.6M, expenses of $14.7M, and assets of $26.0M (revenue -0.9% year-over-year).
- 2012: Revenue of $14.8M, expenses of $14.1M, and assets of $26.0M (revenue +13.5% year-over-year).
- 2011: Revenue of $13.0M, expenses of $13.2M, and assets of $22.6M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Maine College Of Art:
Data Sources and Methodology
This transparency report for Maine College Of Art 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.