Maine Development Foundation
Maine Development Foundation shows consistent revenue growth but frequently operates with expenses exceeding revenue.
EIN: 10355563 · Augusta, ME · NTEE: S30Z · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $3.0M |
| Total Expenses | $3.4M |
| Program Spending | 80% |
| CEO/Top Officer Pay | $3 |
| Net Assets | $71K |
| Transparency Score | 75/100 |
Is Maine Development Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Maine Development Foundation directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Maine Development Foundation
Maine Development Foundation (EIN: 10355563) is a nonprofit organization based in Augusta, ME, classified under NTEE code S30Z. The organization reported total revenue of $3.0M and total assets of $970K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Maine Development Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Maine Development Foundation is a mid-size nonprofit that has been operating for 48 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 6.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $3.2M |
| Total Expenses | $3.4M |
| Surplus / Deficit | $-200,850 |
| Total Assets | $1.2M |
| Total Liabilities | $1.1M |
| Net Assets | $71K |
| Operating Margin | -6.4% |
| Debt-to-Asset Ratio | 94.0% |
| Months of Reserves | 4.2 months |
Financial Health Grade: C
In 2023, Maine Development Foundation reported a deficit of $201K with expenses exceeding revenue, holds 4.2 months of operating reserves (adequate), has a debt-to-asset ratio of 94.0% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Maine Development Foundation's revenue has grown at a compound annual growth rate (CAGR) of 6.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +12.7% | +22.7% | -38.7% |
| 2022 | +4.5% | -1.5% | +97.7% |
| 2021 | +6.6% | +6.9% | -38.1% |
| 2020 | +40.5% | +40.6% | +119.9% |
| 2019 | -0.1% | -0.4% | -9.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1978 |
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 Development Foundation 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: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Maine Development Foundation allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% 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 deficit of $201K, with expenses exceeding revenue.
- Debt-to-asset ratio: 94.0%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, which is unusual for an organization of its size with revenues exceeding $3 million, suggesting either a fully volunteer leadership or compensation is categorized differently.
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 Development Foundation's IRS 990 filings:
- Frequent annual expenses exceeding revenue, as seen in 202312 ($3,361,150 expenses vs. $3,160,300 revenue).
- Consistent 0% officer compensation reported, which is atypical for an organization of this size and warrants further investigation into how leadership is compensated.
Strengths
The following positive indicators were identified for Maine Development Foundation:
- Consistent revenue growth over the past decade, from $1,085,481 in 201512 to $3,160,300 in 202312.
- Long history of operations with 13 IRS 990 filings, indicating stability and compliance.
- Strong asset base, with assets reaching $1,176,862 in the latest period, providing some financial cushion.
Frequently Asked Questions about Maine Development Foundation
Is Maine Development Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Maine Development Foundation (EIN: 10355563) some concerns. Mission Score: 75/100. 2 red flags identified, 3 strengths noted.
How does Maine Development Foundation spend its money?
Maine Development Foundation directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Maine Development Foundation tax-deductible?
Maine Development Foundation is registered as a tax-exempt nonprofit (EIN: 10355563). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Maine Development Foundation CEO make?
Maine Development Foundation's highest-compensated officer earns $3 annually. The organization reported $3.0M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Maine Development Foundation's spending goes to programs?
Maine Development Foundation directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Maine Development Foundation compare to similar nonprofits?
With a transparency score of 75/100 (Good), Maine Development Foundation is above average for NTEE category S30Z nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Maine Development Foundation located?
Maine Development Foundation is headquartered in Augusta, Maine and files with the IRS under EIN 10355563. It is classified under NTEE code S30Z.
How many years of IRS 990 filings does Maine Development Foundation have?
Maine Development Foundation 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 $3.0M in total revenue.
Is Maine Development Foundation a good charity?
Based on the available data, the Maine Development Foundation appears to be a legitimate organization with a long history of operations and consistent IRS filings. Its financial health shows growth in revenue over time, though it frequently spends more than it takes in during a given year. The lack of reported officer compensation is a unique characteristic that could be viewed positively for efficiency or raise questions about how leadership is compensated.
How does Maine Development Foundation manage its expenses relative to its revenue?
The organization frequently reports expenses exceeding revenue. For example, in 202312, expenses were $3,361,150 against revenues of $3,160,300. This trend is visible in multiple years (e.g., 202112, 202012, 201912), indicating a potential reliance on prior year surpluses or specific grant cycles that may not align perfectly with annual reporting periods.
What is the trend in the organization's assets and liabilities?
Assets have fluctuated significantly, reaching a high of $1,919,051 in 202212 before decreasing to $1,176,862 in 202312. Liabilities have also varied, peaking at $1,647,351 in 202212 and then decreasing to $1,106,012 in 202312. This suggests active financial management, possibly related to project funding or capital expenditures.
Why is officer compensation consistently reported as 0%?
The consistent reporting of 0% officer compensation across all filings is unusual for an organization of this scale. It could indicate that the leadership is entirely volunteer-based, or that executive compensation is reported under other expense categories (e.g., program expenses, administrative expenses) rather than specifically as officer compensation, which would require further detail from the full 990 forms to clarify.
Filing History
IRS 990 filing history for Maine Development Foundation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Maine Development Foundation's revenue has grown by 114.5%, moving from $1.5M to $3.2M. Total assets increased by 68.1% over the same period, from $700K to $1.2M. Total functional expenses rose by 125.8%, from $1.5M to $3.4M. In its most recent filing year (2023), Maine Development Foundation reported a deficit of $201K, with expenses exceeding revenue. The organization holds $1.1M in liabilities against $1.2M in assets (debt-to-asset ratio: 94.0%), resulting in net assets of $71K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $3.2M | $3.4M | $1.2M | $1.1M | — | — |
| 2022 | $2.8M | $2.7M | $1.9M | $1.6M | — | — |
| 2021 | $2.7M | $2.8M | $971K | $763K | — | View 990 |
| 2020 | $2.5M | $2.6M | $1.6M | $1.3M | — | — |
| 2019 | $1.8M | $1.8M | $713K | $322K | — | View 990 |
| 2018 | $1.8M | $1.9M | $788K | $339K | — | View 990 |
| 2017 | $1.7M | $1.4M | $697K | $182K | — | View 990 |
| 2016 | $1.2M | $1.4M | $487K | $210K | — | View 990 |
| 2015 | $1.1M | $1.2M | $598K | $186K | — | View 990 |
| 2014 | $2.0M | $2.0M | $685K | $166K | — | View 990 |
| 2013 | $2.0M | $2.1M | $897K | $355K | — | View 990 |
| 2012 | $1.6M | $1.3M | $977K | $337K | — | View 990 |
| 2011 | $1.5M | $1.5M | $700K | $369K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $3.2M, expenses of $3.4M, and assets of $1.2M (revenue +12.7% year-over-year).
- 2022: Revenue of $2.8M, expenses of $2.7M, and assets of $1.9M (revenue +4.5% year-over-year).
- 2021: Revenue of $2.7M, expenses of $2.8M, and assets of $971K (revenue +6.6% year-over-year).
- 2020: Revenue of $2.5M, expenses of $2.6M, and assets of $1.6M (revenue +40.5% year-over-year).
- 2019: Revenue of $1.8M, expenses of $1.8M, and assets of $713K (revenue -0.1% year-over-year).
- 2018: Revenue of $1.8M, expenses of $1.9M, and assets of $788K (revenue +8.0% year-over-year).
- 2017: Revenue of $1.7M, expenses of $1.4M, and assets of $697K (revenue +36.2% year-over-year).
- 2016: Revenue of $1.2M, expenses of $1.4M, and assets of $487K (revenue +12.2% year-over-year).
- 2015: Revenue of $1.1M, expenses of $1.2M, and assets of $598K (revenue -46.3% year-over-year).
- 2014: Revenue of $2.0M, expenses of $2.0M, and assets of $685K (revenue +2.5% year-over-year).
- 2013: Revenue of $2.0M, expenses of $2.1M, and assets of $897K (revenue +26.3% year-over-year).
- 2012: Revenue of $1.6M, expenses of $1.3M, and assets of $977K (revenue +6.0% year-over-year).
- 2011: Revenue of $1.5M, expenses of $1.5M, and assets of $700K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Maine Development Foundation:
Data Sources and Methodology
This transparency report for Maine Development Foundation 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.