Maine Independent Colleges Association
Maine Independent Colleges Association faces recurring operating deficits despite zero reported executive compensation.
EIN: 10376503 · Biddeford, ME · NTEE: B03 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $111K |
| Total Expenses | $39K |
| Program Spending | 70% |
| Net Assets | $11K |
| Transparency Score | 60/100 |
Is Maine Independent Colleges Association Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Maine Independent Colleges Association directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Maine Independent Colleges Association
Maine Independent Colleges Association (EIN: 10376503) is a nonprofit organization based in Biddeford, ME, classified under NTEE code B03. The organization reported total revenue of $111K and total assets of $57K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Maine Independent Colleges Association's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Maine Independent Colleges Association is a small nonprofit that has been operating for 10 years, with 7 years of IRS 990 filings on record (2017–2023). Revenue has grown at a compound annual rate of -24.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $8K |
| Total Expenses | $39K |
| Surplus / Deficit | $-30,795 |
| Total Assets | $11K |
| Net Assets | $11K |
| Operating Margin | -384.6% |
| Months of Reserves | 3.5 months |
Financial Health Grade: B
In 2023, Maine Independent Colleges Association reported a deficit of $31K with expenses exceeding revenue, holds 3.5 months of operating reserves (adequate).
Financial Trends
Over 7 years of filings (2017–2023), Maine Independent Colleges Association's revenue has declined at a compound annual growth rate (CAGR) of -24.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -89.7% | -67.2% | -73.1% |
| 2022 | -22.0% | +179.0% | -48.8% |
| 2021 | +9.9% | -48.7% | +233.4% |
| 2020 | +49.2% | +5.0% | +52.2% |
| 2019 | -41.3% | +-0.0% | -52.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 2016 |
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 Independent Colleges Association with a Mission Score of 60 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 Independent Colleges 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 deficit of $31K, with expenses exceeding revenue.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all seven filings, suggesting either a volunteer-led executive team or compensation levels below IRS reporting thresholds, which is efficient for an organization of this size.
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 Independent Colleges Association's IRS 990 filings:
- Recurring significant operating deficits (e.g., $30,795 in 2023, $40,221 in 2022).
- Highly volatile revenue streams, making financial planning difficult.
- Expenses frequently exceed revenue, indicating potential sustainability issues.
Strengths
The following positive indicators were identified for Maine Independent Colleges Association:
- Consistent reporting of zero liabilities, indicating no accumulated debt.
- No reported officer compensation, suggesting efficient use of funds at the executive level.
- Consistent filing of IRS Form 990s, demonstrating transparency.
Frequently Asked Questions about Maine Independent Colleges Association
Is Maine Independent Colleges Association a legitimate charity?
Based on AI analysis of IRS 990 filings, Maine Independent Colleges Association (EIN: 10376503) some concerns. Mission Score: 60/100. 3 red flags identified, 3 strengths noted.
How does Maine Independent Colleges Association spend its money?
Maine Independent Colleges Association directs 70% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Maine Independent Colleges Association tax-deductible?
Maine Independent Colleges Association is registered as a tax-exempt nonprofit (EIN: 10376503). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Maine Independent Colleges Association's spending goes to programs?
Maine Independent Colleges Association directs 70% to programs, 10% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
How does Maine Independent Colleges Association compare to similar nonprofits?
With a transparency score of 60/100 (Good), Maine Independent Colleges Association is above average for NTEE category B03 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Maine Independent Colleges Association located?
Maine Independent Colleges Association is headquartered in Biddeford, Maine and files with the IRS under EIN 10376503. It is classified under NTEE code B03.
How many years of IRS 990 filings does Maine Independent Colleges Association have?
Maine Independent Colleges Association has 7 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 $111K in total revenue.
Is Maine Independent Colleges Association financially stable?
The organization's financial stability is questionable due to frequent operating deficits, such as the $30,795 deficit in 2023 (Expenses $38,803 vs. Revenue $8,008), and significant fluctuations in revenue year-to-year.
How does Maine Independent Colleges Association manage its expenses?
While specific expense categories are not detailed, the organization frequently spends more than it earns, as seen in 2023 where expenses were nearly five times revenue. This suggests a need for better expense management or increased revenue generation.
What is the trend in Maine Independent Colleges Association's revenue?
Revenue has been highly volatile, peaking at $104,024 in 2018 and $100,021 in 2021, but dropping sharply to $8,008 in 2023, indicating an inconsistent funding base.
Filing History
IRS 990 filing history for Maine Independent Colleges Association showing financial trends over 7 years of public records:
Over 7 years of IRS 990 filings (2017–2023), Maine Independent Colleges Association's revenue has declined by 80.9%, moving from $42K to $8K. Total assets increased by 34% over the same period, from $8K to $11K. Total functional expenses fell by 51.7%, from $80K to $39K. In its most recent filing year (2023), Maine Independent Colleges Association reported a deficit of $31K, with expenses exceeding revenue.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $8K | $39K | $11K | $0 | — | — |
| 2022 | $78K | $118K | $42K | $0 | — | View 990 |
| 2021 | $100K | $42K | $82K | $0 | — | View 990 |
| 2020 | $91K | $83K | $25K | $0 | — | View 990 |
| 2019 | $61K | $79K | $16K | $0 | — | View 990 |
| 2018 | $104K | $79K | $34K | $0 | — | View 990 |
| 2017 | $42K | $80K | $8K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $8K, expenses of $39K, and assets of $11K (revenue -89.7% year-over-year).
- 2022: Revenue of $78K, expenses of $118K, and assets of $42K (revenue -22.0% year-over-year).
- 2021: Revenue of $100K, expenses of $42K, and assets of $82K (revenue +9.9% year-over-year).
- 2020: Revenue of $91K, expenses of $83K, and assets of $25K (revenue +49.2% year-over-year).
- 2019: Revenue of $61K, expenses of $79K, and assets of $16K (revenue -41.3% year-over-year).
- 2018: Revenue of $104K, expenses of $79K, and assets of $34K (revenue +147.6% year-over-year).
- 2017: Revenue of $42K, expenses of $80K, and assets of $8K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Maine Independent Colleges Association:
Data Sources and Methodology
This transparency report for Maine Independent Colleges 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.