Maine Initiatives Inc
Maine Initiatives Inc shows strong revenue and asset growth with 0% reported officer compensation.
EIN: 10484310 · Portland, ME · NTEE: I20Z · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $2.0M |
| Total Expenses | $3.6M |
| Program Spending | 80% |
| CEO/Top Officer Pay | $3.5 |
| Net Assets | $4.4M |
| Transparency Score | 85/100 |
Is Maine Initiatives Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Maine Initiatives Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Maine Initiatives Inc
Maine Initiatives Inc (EIN: 10484310) is a nonprofit organization based in Portland, ME, classified under NTEE code I20Z. The organization reported total revenue of $2.0M and total assets of $5.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Maine Initiatives Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Maine Initiatives Inc is a mid-size nonprofit that has been operating for 32 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 11.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $3.5M |
| Total Expenses | $3.6M |
| Surplus / Deficit | $-79,456 |
| Total Assets | $5.1M |
| Total Liabilities | $723K |
| Net Assets | $4.4M |
| Operating Margin | -2.3% |
| Debt-to-Asset Ratio | 14.0% |
| Months of Reserves | 17.2 months |
Financial Health Grade: B
In 2023, Maine Initiatives Inc reported a deficit of $79K with expenses exceeding revenue, holds 17.2 months of operating reserves (strong position), has a debt-to-asset ratio of 14.0% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Maine Initiatives Inc's revenue has grown at a compound annual growth rate (CAGR) of 11.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +29.7% | +23.8% | +16.6% |
| 2022 | +4.1% | +37.8% | -15.5% |
| 2021 | +21.5% | +2.8% | +27.7% |
| 2020 | +106.7% | +82.7% | +7.5% |
| 2019 | +144.4% | +68.7% | +2.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 1994 |
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 Initiatives Inc with a Mission Score of 85 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: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Maine Initiatives Inc 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 $79K, with expenses exceeding revenue.
- Debt-to-asset ratio: 14.0%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, which is highly unusual for an organization with expenses exceeding $3.5 million. This suggests either a fully volunteer executive leadership or that executive compensation is categorized under other expense lines, which could obscure true administrative costs.
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 Initiatives Inc's IRS 990 filings:
- 0% reported officer compensation for a multi-million dollar organization, potentially obscuring true executive costs.
- Significant increase in liabilities from $175,314 in 2022 to $723,336 in 2023 without immediate explanation.
Strengths
The following positive indicators were identified for Maine Initiatives Inc:
- Strong and consistent revenue growth, from $274,900 in 2015 to $3,513,921 in 2023.
- Healthy and growing asset base, reaching $5,149,067 in 2023, indicating financial stability.
- Consistent IRS 990 filing history (13 filings), demonstrating transparency and compliance.
- Positive net assets, with assets significantly exceeding liabilities in most periods.
Frequently Asked Questions about Maine Initiatives Inc
Is Maine Initiatives Inc a legitimate charity?
Maine Initiatives Inc (EIN: 10484310) is a registered tax-exempt nonprofit based in Maine. Our AI analysis gives it a Mission Score of 85/100. It has 13 years of IRS 990 filings on record. Total revenue: $2.0M. 2 red flags identified. 4 strengths noted. Financial health grade: B.
How does Maine Initiatives Inc spend its money?
Maine Initiatives Inc directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Maine Initiatives Inc tax-deductible?
Maine Initiatives Inc is registered as a tax-exempt nonprofit (EIN: 10484310). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Maine Initiatives Inc CEO make?
Maine Initiatives Inc's highest-compensated officer earns $3.5 annually. The organization reported $2.0M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Maine Initiatives Inc's spending goes to programs?
Maine Initiatives Inc directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Maine Initiatives Inc compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Maine Initiatives Inc is above average for NTEE category I20Z nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Maine Initiatives Inc located?
Maine Initiatives Inc is headquartered in Portland, Maine and files with the IRS under EIN 10484310. It is classified under NTEE code I20Z.
How many years of IRS 990 filings does Maine Initiatives Inc have?
Maine Initiatives 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 $2.0M in total revenue.
How does Maine Initiatives Inc manage to operate with 0% reported officer compensation, given its scale?
The consistent reporting of 0% officer compensation across all filings for an organization with multi-million dollar revenues and expenses is highly unusual. It suggests either a fully volunteer executive team, or that executive compensation is included within other expense categories (e.g., program or administrative salaries), which would require deeper analysis of their full Form 990 to understand.
What caused the significant increase in liabilities from $175,314 in 2022 to $723,336 in 2023?
The jump in liabilities by over $500,000 in a single year warrants further investigation. This could be due to various factors such as increased grants payable to sub-grantees, short-term loans for program expansion, or other operational debts. Understanding the nature of these liabilities is crucial for a complete financial picture.
What are the specific breakdowns of program, administrative, and fundraising expenses?
While the summary data indicates total expenses, the specific allocation percentages for programs, administration, and fundraising are not provided. A detailed breakdown from the full Form 990 would offer greater insight into spending efficiency.
Filing History
IRS 990 filing history for Maine Initiatives Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Maine Initiatives Inc's revenue has grown by 265%, moving from $963K to $3.5M. Total assets increased by 65.5% over the same period, from $3.1M to $5.1M. Total functional expenses rose by 352.9%, from $793K to $3.6M. In its most recent filing year (2023), Maine Initiatives Inc reported a deficit of $79K, with expenses exceeding revenue. The organization holds $723K in liabilities against $5.1M in assets (debt-to-asset ratio: 14.0%), resulting in net assets of $4.4M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $3.5M | $3.6M | $5.1M | $723K | — | — |
| 2022 | $2.7M | $2.9M | $4.4M | $175K | — | View 990 |
| 2021 | $2.6M | $2.1M | $5.2M | $89K | — | View 990 |
| 2020 | $2.1M | $2.0M | $4.1M | $49K | — | — |
| 2019 | $1.0M | $1.1M | $3.8M | $109K | — | View 990 |
| 2018 | $424K | $664K | $3.7M | $20K | — | View 990 |
| 2017 | $625K | $519K | $3.7M | $20K | — | View 990 |
| 2016 | $321K | $356K | $3.4M | $35K | — | View 990 |
| 2015 | $275K | $372K | $3.2M | $9K | — | View 990 |
| 2014 | $280K | $512K | $3.5M | $25K | — | View 990 |
| 2013 | $299K | $468K | $3.5M | $20K | — | View 990 |
| 2012 | $333K | $567K | $3.3M | $19K | — | View 990 |
| 2011 | $963K | $793K | $3.1M | $17K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $3.5M, expenses of $3.6M, and assets of $5.1M (revenue +29.7% year-over-year).
- 2022: Revenue of $2.7M, expenses of $2.9M, and assets of $4.4M (revenue +4.1% year-over-year).
- 2021: Revenue of $2.6M, expenses of $2.1M, and assets of $5.2M (revenue +21.5% year-over-year).
- 2020: Revenue of $2.1M, expenses of $2.0M, and assets of $4.1M (revenue +106.7% year-over-year).
- 2019: Revenue of $1.0M, expenses of $1.1M, and assets of $3.8M (revenue +144.4% year-over-year).
- 2018: Revenue of $424K, expenses of $664K, and assets of $3.7M (revenue -32.1% year-over-year).
- 2017: Revenue of $625K, expenses of $519K, and assets of $3.7M (revenue +94.7% year-over-year).
- 2016: Revenue of $321K, expenses of $356K, and assets of $3.4M (revenue +16.8% year-over-year).
- 2015: Revenue of $275K, expenses of $372K, and assets of $3.2M (revenue -1.7% year-over-year).
- 2014: Revenue of $280K, expenses of $512K, and assets of $3.5M (revenue -6.4% year-over-year).
- 2013: Revenue of $299K, expenses of $468K, and assets of $3.5M (revenue -10.3% year-over-year).
- 2012: Revenue of $333K, expenses of $567K, and assets of $3.3M (revenue -65.4% year-over-year).
- 2011: Revenue of $963K, expenses of $793K, and assets of $3.1M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Maine Initiatives Inc:
Data Sources and Methodology
This transparency report for Maine Initiatives 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.