Maine Farmland Trust Inc
Maine Farmland Trust maintains strong assets and reports no officer compensation despite fluctuating revenues.
EIN: 10528014 · Belfast, ME · NTEE: K25 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $8.3M |
| Total Expenses | $5.4M |
| Program Spending | 85% |
| Net Assets | $26.3M |
| Transparency Score | 90/100 |
Is Maine Farmland Trust Inc Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Maine Farmland Trust Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Maine Farmland Trust Inc
Maine Farmland Trust Inc (EIN: 10528014) is a nonprofit organization based in Belfast, ME, classified under NTEE code K25. The organization reported total revenue of $8.3M and total assets of $27.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Maine Farmland Trust Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Maine Farmland Trust Inc is a mid-size nonprofit that has been operating for 22 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 4.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $4.2M |
| Total Expenses | $5.4M |
| Surplus / Deficit | $-1,198,117 |
| Total Assets | $28.4M |
| Total Liabilities | $2.1M |
| Net Assets | $26.3M |
| Operating Margin | -28.4% |
| Debt-to-Asset Ratio | 7.3% |
| Months of Reserves | 62.8 months |
Financial Health Grade: B
In 2023, Maine Farmland Trust Inc reported a deficit of $1.2M with expenses exceeding revenue, holds 62.8 months of operating reserves (strong position), has a debt-to-asset ratio of 7.3% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Maine Farmland Trust Inc's revenue has grown at a compound annual growth rate (CAGR) of 4.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -46.7% | -24.0% | -2.8% |
| 2022 | -17.4% | +68.8% | -0.2% |
| 2021 | +94.5% | -38.9% | +5.4% |
| 2020 | -55.4% | +3.2% | -7.7% |
| 2019 | +295.8% | +39.7% | +14.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 2004 |
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 Farmland Trust Inc with a Mission Score of 90 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 Farmland Trust 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 deficit of $1.2M, with expenses exceeding revenue.
- Debt-to-asset ratio: 7.3%.
Executive Compensation Analysis
Maine Farmland Trust consistently reports 0% officer compensation across all available filings, indicating that no portion of its expenses is allocated to executive salaries, which is highly unusual and suggests a strong commitment to directing funds towards 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.
Strengths
The following positive indicators were identified for Maine Farmland Trust Inc:
- Consistent reporting of 0% officer compensation, indicating high efficiency in resource allocation.
- Strong and consistent asset base, with assets reaching $29.2 million in 2021, providing long-term stability.
- Low liabilities relative to assets, demonstrating sound financial management (e.g., $2.0 million liabilities vs. $28.3 million assets in 2023).
- Extensive filing history (13 filings) indicating strong transparency and accountability.
- Mission-aligned NTEE code (K25 - Land Resources Conservation) supporting its stated purpose.
Frequently Asked Questions about Maine Farmland Trust Inc
Is Maine Farmland Trust Inc a legitimate charity?
Maine Farmland Trust Inc (EIN: 10528014) is a registered tax-exempt nonprofit based in Maine. Our AI analysis gives it a Mission Score of 90/100. It has 13 years of IRS 990 filings on record. Total revenue: $8.3M. No red flags identified. 5 strengths noted. Financial health grade: B.
How does Maine Farmland Trust Inc spend its money?
Maine Farmland Trust Inc directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Maine Farmland Trust Inc tax-deductible?
Maine Farmland Trust Inc is registered as a tax-exempt nonprofit (EIN: 10528014). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Maine Farmland Trust Inc's spending goes to programs?
Maine Farmland Trust Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Maine Farmland Trust Inc compare to similar nonprofits?
With a transparency score of 90/100 (Excellent), Maine Farmland Trust Inc is above average for NTEE category K25 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Maine Farmland Trust Inc located?
Maine Farmland Trust Inc is headquartered in Belfast, Maine and files with the IRS under EIN 10528014. It is classified under NTEE code K25.
How many years of IRS 990 filings does Maine Farmland Trust Inc have?
Maine Farmland Trust 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 $8.3M in total revenue.
Is Maine Farmland Trust Inc a good charity?
Based on the provided data, Maine Farmland Trust Inc appears to be a good charity. It consistently reports 0% officer compensation, maintains a strong asset base (e.g., $29.1 million in 2022), and has a long history of financial filings, all indicating strong financial health and a commitment to its mission.
How does Maine Farmland Trust manage its executive compensation?
Maine Farmland Trust Inc reports 0% officer compensation in all available IRS 990 filings, which means no compensation is reported for its officers, directors, trustees, or key employees. This is a highly positive indicator of resource allocation.
What is the financial stability of Maine Farmland Trust?
The organization demonstrates strong financial stability, consistently holding significant assets (e.g., $26.9 million in 2023 and $29.1 million in 2022) relative to its liabilities (e.g., $2.0 million in 2023 and $1.8 million in 2022). While revenues fluctuate, the substantial asset base provides a strong foundation.
Filing History
IRS 990 filing history for Maine Farmland Trust Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Maine Farmland Trust Inc's revenue has grown by 73.1%, moving from $2.4M to $4.2M. Total assets increased by 111.4% over the same period, from $13.4M to $28.4M. Total functional expenses rose by 233.5%, from $1.6M to $5.4M. In its most recent filing year (2023), Maine Farmland Trust Inc reported a deficit of $1.2M, with expenses exceeding revenue. The organization holds $2.1M in liabilities against $28.4M in assets (debt-to-asset ratio: 7.3%), resulting in net assets of $26.3M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $4.2M | $5.4M | $28.4M | $2.1M | — | View 990 |
| 2022 | $7.9M | $7.1M | $29.2M | $1.8M | — | View 990 |
| 2021 | $9.6M | $4.2M | $29.2M | $1.7M | — | View 990 |
| 2020 | $4.9M | $6.9M | $27.7M | $2.5M | — | View 990 |
| 2019 | $11.1M | $6.7M | $30.1M | $2.7M | — | View 990 |
| 2018 | $2.8M | $4.8M | $26.3M | $4.0M | — | View 990 |
| 2017 | $3.5M | $5.6M | $28.2M | $3.7M | — | View 990 |
| 2016 | $8.6M | $5.8M | $30.6M | $4.5M | — | View 990 |
| 2015 | $16.1M | $3.9M | $27.2M | $4.2M | — | View 990 |
| 2014 | $7.7M | $4.3M | $15.7M | $4.8M | — | View 990 |
| 2013 | $4.3M | $2.4M | $13.9M | $6.4M | — | View 990 |
| 2012 | $3.3M | $1.9M | $14.3M | $8.7M | — | View 990 |
| 2011 | $2.4M | $1.6M | $13.4M | $9.2M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $4.2M, expenses of $5.4M, and assets of $28.4M (revenue -46.7% year-over-year).
- 2022: Revenue of $7.9M, expenses of $7.1M, and assets of $29.2M (revenue -17.4% year-over-year).
- 2021: Revenue of $9.6M, expenses of $4.2M, and assets of $29.2M (revenue +94.5% year-over-year).
- 2020: Revenue of $4.9M, expenses of $6.9M, and assets of $27.7M (revenue -55.4% year-over-year).
- 2019: Revenue of $11.1M, expenses of $6.7M, and assets of $30.1M (revenue +295.8% year-over-year).
- 2018: Revenue of $2.8M, expenses of $4.8M, and assets of $26.3M (revenue -21.2% year-over-year).
- 2017: Revenue of $3.5M, expenses of $5.6M, and assets of $28.2M (revenue -58.8% year-over-year).
- 2016: Revenue of $8.6M, expenses of $5.8M, and assets of $30.6M (revenue -46.5% year-over-year).
- 2015: Revenue of $16.1M, expenses of $3.9M, and assets of $27.2M (revenue +109.6% year-over-year).
- 2014: Revenue of $7.7M, expenses of $4.3M, and assets of $15.7M (revenue +78.4% year-over-year).
- 2013: Revenue of $4.3M, expenses of $2.4M, and assets of $13.9M (revenue +31.7% year-over-year).
- 2012: Revenue of $3.3M, expenses of $1.9M, and assets of $14.3M (revenue +34.0% year-over-year).
- 2011: Revenue of $2.4M, expenses of $1.6M, and assets of $13.4M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Maine Farmland Trust Inc:
Data Sources and Methodology
This transparency report for Maine Farmland Trust 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.