Maine Discovery Museum
Maine Discovery Museum faces persistent operational deficits, drawing down assets over the last decade.
EIN: 10527022 · Bangor, ME · NTEE: A520 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.1M |
| Total Expenses | $1.0M |
| Program Spending | 80% |
| Net Assets | $975K |
| Transparency Score | 65/100 |
Is Maine Discovery Museum Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Maine Discovery Museum directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Maine Discovery Museum
Maine Discovery Museum (EIN: 10527022) is a nonprofit organization based in Bangor, ME, classified under NTEE code A520. The organization reported total revenue of $1.1M and total assets of $1.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Maine Discovery Museum's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Maine Discovery Museum is a mid-size nonprofit that has been operating for 27 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 1.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $809K |
| Total Expenses | $1.0M |
| Surplus / Deficit | $-198,584 |
| Total Assets | $1.7M |
| Total Liabilities | $694K |
| Net Assets | $975K |
| Operating Margin | -24.5% |
| Debt-to-Asset Ratio | 41.6% |
| Months of Reserves | 19.9 months |
Financial Health Grade: B
In 2023, Maine Discovery Museum reported a deficit of $199K with expenses exceeding revenue, holds 19.9 months of operating reserves (strong position), has a debt-to-asset ratio of 41.6% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), Maine Discovery Museum's revenue has grown at a compound annual growth rate (CAGR) of 1.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +32.8% | +3.9% | -9.3% |
| 2022 | -16.2% | +27.3% | -6.6% |
| 2021 | +43.1% | +9.5% | -2.4% |
| 2020 | -41.2% | -21.6% | -9.5% |
| 2019 | -3.2% | +12.9% | -1.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 1999 |
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 Discovery Museum with a Mission Score of 65 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 Discovery Museum 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 $199K, with expenses exceeding revenue.
- Debt-to-asset ratio: 41.6%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that no salaries are paid to its officers, which is a strong positive for directing funds to its mission.
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 Discovery Museum's IRS 990 filings:
- Consistent operational deficits, with expenses exceeding revenue in most years (e.g., 2023: $1,008,014 expenses vs. $809,430 revenue).
- Declining asset base over the past decade, from $2,347,930 in 2014 to $1,669,381 in 2023, indicating potential reliance on reserves.
- Lack of detailed functional expense breakdown in the provided data makes it difficult to fully assess spending efficiency.
Strengths
The following positive indicators were identified for Maine Discovery Museum:
- Consistent reporting of 0% officer compensation, indicating a strong commitment to directing funds to the mission.
- Clear mission focus as a Children's Museum (NTEE A520).
- Long filing history (13 filings) demonstrates consistent compliance and transparency in reporting.
Frequently Asked Questions about Maine Discovery Museum
Is Maine Discovery Museum a legitimate charity?
Based on AI analysis of IRS 990 filings, Maine Discovery Museum (EIN: 10527022) some concerns. Mission Score: 65/100. 3 red flags identified, 3 strengths noted.
How does Maine Discovery Museum spend its money?
Maine Discovery Museum directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Maine Discovery Museum tax-deductible?
Maine Discovery Museum is registered as a tax-exempt nonprofit (EIN: 10527022). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Maine Discovery Museum's spending goes to programs?
Maine Discovery Museum directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Maine Discovery Museum compare to similar nonprofits?
With a transparency score of 65/100 (Good), Maine Discovery Museum is above average for NTEE category A520 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Maine Discovery Museum located?
Maine Discovery Museum is headquartered in Bangor, Maine and files with the IRS under EIN 10527022. It is classified under NTEE code A520.
How many years of IRS 990 filings does Maine Discovery Museum have?
Maine Discovery Museum 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 $1.1M in total revenue.
How does the Maine Discovery Museum plan to address its consistent operational deficits?
The filings show a pattern of expenses exceeding revenue, such as $1,008,014 in expenses vs. $809,430 in revenue in 2023. This trend suggests a need for a strategic plan to increase revenue or reduce costs to ensure long-term sustainability.
What is the detailed breakdown of program, administrative, and fundraising expenses?
Without a detailed functional expense statement from the 990, it's difficult to precisely determine the exact percentages. However, the consistent 0% officer compensation suggests a lean administrative structure, potentially allowing a higher proportion of funds to go towards programs.
What is the source of funding that covers the operational deficits?
The declining asset base, from $2,347,930 in 2014 to $1,669,381 in 2023, suggests that the organization may be drawing down its reserves or endowment to cover the gap between revenue and expenses.
Filing History
IRS 990 filing history for Maine Discovery Museum showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Maine Discovery Museum's revenue has grown by 17.4%, moving from $690K to $809K. Total assets decreased by 35.8% over the same period, from $2.6M to $1.7M. Total functional expenses rose by 37.7%, from $732K to $1.0M. In its most recent filing year (2023), Maine Discovery Museum reported a deficit of $199K, with expenses exceeding revenue. The organization holds $694K in liabilities against $1.7M in assets (debt-to-asset ratio: 41.6%), resulting in net assets of $975K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $809K | $1.0M | $1.7M | $694K | — | — |
| 2022 | $609K | $970K | $1.8M | $666K | — | View 990 |
| 2021 | $728K | $762K | $2.0M | $436K | — | View 990 |
| 2020 | $508K | $696K | $2.0M | $450K | — | View 990 |
| 2019 | $865K | $888K | $2.2M | $474K | — | View 990 |
| 2018 | $893K | $787K | $2.3M | $490K | — | View 990 |
| 2017 | $656K | $730K | $2.1M | $475K | — | View 990 |
| 2016 | $700K | $747K | $2.2M | $489K | — | View 990 |
| 2015 | $675K | $688K | $2.3M | $535K | — | View 990 |
| 2014 | $606K | $601K | $2.3M | $540K | — | View 990 |
| 2013 | $528K | $622K | $2.4M | $562K | — | View 990 |
| 2012 | $589K | $658K | $2.5M | $635K | — | View 990 |
| 2011 | $690K | $732K | $2.6M | $625K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $809K, expenses of $1.0M, and assets of $1.7M (revenue +32.8% year-over-year).
- 2022: Revenue of $609K, expenses of $970K, and assets of $1.8M (revenue -16.2% year-over-year).
- 2021: Revenue of $728K, expenses of $762K, and assets of $2.0M (revenue +43.1% year-over-year).
- 2020: Revenue of $508K, expenses of $696K, and assets of $2.0M (revenue -41.2% year-over-year).
- 2019: Revenue of $865K, expenses of $888K, and assets of $2.2M (revenue -3.2% year-over-year).
- 2018: Revenue of $893K, expenses of $787K, and assets of $2.3M (revenue +36.1% year-over-year).
- 2017: Revenue of $656K, expenses of $730K, and assets of $2.1M (revenue -6.3% year-over-year).
- 2016: Revenue of $700K, expenses of $747K, and assets of $2.2M (revenue +3.7% year-over-year).
- 2015: Revenue of $675K, expenses of $688K, and assets of $2.3M (revenue +11.4% year-over-year).
- 2014: Revenue of $606K, expenses of $601K, and assets of $2.3M (revenue +14.7% year-over-year).
- 2013: Revenue of $528K, expenses of $622K, and assets of $2.4M (revenue -10.3% year-over-year).
- 2012: Revenue of $589K, expenses of $658K, and assets of $2.5M (revenue -14.6% year-over-year).
- 2011: Revenue of $690K, expenses of $732K, and assets of $2.6M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Maine Discovery Museum:
Data Sources and Methodology
This transparency report for Maine Discovery Museum 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.