Maine Lighthouse Museum Inc
Maine Lighthouse Museum shows revenue growth but consistent operating deficits and declining assets.
EIN: 200304972 · Rockland, ME · NTEE: A50 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $198K |
| Total Expenses | $192K |
| Program Spending | 85% |
| Net Assets | $347K |
| Transparency Score | 75/100 |
Is Maine Lighthouse Museum Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Maine Lighthouse Museum Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Maine Lighthouse Museum Inc
Maine Lighthouse Museum Inc (EIN: 200304972) is a nonprofit organization based in Rockland, ME, classified under NTEE code A50. The organization reported total revenue of $198K and total assets of $736K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Maine Lighthouse Museum Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Maine Lighthouse Museum Inc is a small nonprofit that has been operating for 23 years, with 12 years of IRS 990 filings on record (2011–2022). Revenue has grown at a compound annual rate of 6.5%.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
| Total Revenue | $184K |
| Total Expenses | $192K |
| Surplus / Deficit | $-8,209 |
| Total Assets | $736K |
| Total Liabilities | $389K |
| Net Assets | $347K |
| Operating Margin | -4.5% |
| Debt-to-Asset Ratio | 52.8% |
| Months of Reserves | 46.0 months |
Financial Health Grade: C
In 2022, Maine Lighthouse Museum Inc reported a deficit of $8K with expenses exceeding revenue, holds 46.0 months of operating reserves (strong position), has a debt-to-asset ratio of 52.8% (high leverage).
Financial Trends
Over 12 years of filings (2011–2022), Maine Lighthouse Museum Inc's revenue has grown at a compound annual growth rate (CAGR) of 6.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2022 | +33.0% | +31.9% | -3.9% |
| 2021 | +114.0% | +144.4% | -6.9% |
| 2020 | -1.6% | -41.8% | +0.2% |
| 2019 | -20.1% | -11.0% | -4.1% |
| 2018 | +4.8% | +8.3% | -2.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2003 |
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 Lighthouse Museum Inc 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: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Maine Lighthouse Museum 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 (2022)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $8K, with expenses exceeding revenue.
- Debt-to-asset ratio: 52.8%.
Executive Compensation Analysis
Executive compensation has consistently been reported as 0% across all available filings, indicating that the organization's leadership is likely volunteer-based or compensated through other means not classified as officer compensation, which is a positive sign for donor confidence.
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 Lighthouse Museum Inc's IRS 990 filings:
- Consistent operating deficits (expenses exceeding revenue) in most recent years, such as $191,933 expenses vs. $183,724 revenue in 2022.
- Steady decline in total assets over the past decade, from $1,022,418 in 2013 to $735,560 in 2022.
- Substantial liabilities ($388,652 in 2022) relative to declining assets.
Strengths
The following positive indicators were identified for Maine Lighthouse Museum Inc:
- Significant revenue growth in recent years, from $64,562 in 2020 to $183,724 in 2022.
- 0% reported officer compensation across all filings, indicating a strong commitment to directing funds to the mission.
- Consistent operation and filing history over a long period (12 filings), demonstrating organizational stability and compliance.
Frequently Asked Questions about Maine Lighthouse Museum Inc
Is Maine Lighthouse Museum Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Maine Lighthouse Museum Inc (EIN: 200304972) some concerns. Mission Score: 75/100. 3 red flags identified, 3 strengths noted.
How does Maine Lighthouse Museum Inc spend its money?
Maine Lighthouse Museum Inc directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Maine Lighthouse Museum Inc tax-deductible?
Maine Lighthouse Museum Inc is registered as a tax-exempt nonprofit (EIN: 200304972). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Maine Lighthouse Museum Inc's spending goes to programs?
Maine Lighthouse Museum Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Maine Lighthouse Museum Inc compare to similar nonprofits?
With a transparency score of 75/100 (Good), Maine Lighthouse Museum Inc is above average for NTEE category A50 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Maine Lighthouse Museum Inc located?
Maine Lighthouse Museum Inc is headquartered in Rockland, Maine and files with the IRS under EIN 200304972. It is classified under NTEE code A50.
How many years of IRS 990 filings does Maine Lighthouse Museum Inc have?
Maine Lighthouse Museum Inc has 12 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 $198K in total revenue.
Is Maine Lighthouse Museum Inc. financially stable?
While the museum has seen revenue growth in recent years, it has consistently operated with expenses exceeding revenue, such as in 2022 ($191,933 expenses vs. $183,724 revenue). Its assets have also declined from over $1 million in 2013 to $735,560 in 2022, suggesting potential long-term stability concerns if deficits continue.
How efficiently does Maine Lighthouse Museum Inc. spend its money?
The organization appears to be efficient in directing funds towards its mission, with a significant portion of its expenses likely going to program services, especially given the 0% officer compensation. However, without a detailed breakdown of program vs. administrative vs. fundraising expenses, a precise efficiency ratio is difficult to calculate from the provided data.
What is the trend in the organization's financial health?
The organization has experienced fluctuating revenues but a general upward trend in recent years (e.g., $64,562 in 2020 to $183,724 in 2022). However, assets have been steadily declining over the past decade, and expenses frequently outpace revenue, indicating a need for improved financial management to reverse asset decline and achieve consistent surpluses.
Does the organization pay its executives?
Based on the provided IRS 990 data, officer compensation has been reported as 0% for all available periods, suggesting that the organization does not pay its executives or that compensation is structured in a way not reported as officer compensation.
Filing History
IRS 990 filing history for Maine Lighthouse Museum Inc showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2011–2022), Maine Lighthouse Museum Inc's revenue has grown by 99.6%, moving from $92K to $184K. Total assets decreased by 32.8% over the same period, from $1.1M to $736K. Total functional expenses rose by 57.2%, from $122K to $192K. In its most recent filing year (2022), Maine Lighthouse Museum Inc reported a deficit of $8K, with expenses exceeding revenue. The organization holds $389K in liabilities against $736K in assets (debt-to-asset ratio: 52.8%), resulting in net assets of $347K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2022 | $184K | $192K | $736K | $389K | — | View 990 |
| 2021 | $138K | $146K | $766K | $410K | — | View 990 |
| 2020 | $65K | $60K | $822K | $458K | — | View 990 |
| 2019 | $66K | $102K | $820K | $462K | — | View 990 |
| 2018 | $82K | $115K | $855K | $462K | — | View 990 |
| 2017 | $78K | $106K | $875K | $471K | — | — |
| 2016 | $125K | $117K | $942K | $488K | — | View 990 |
| 2015 | $107K | $118K | $955K | $510K | — | View 990 |
| 2014 | $71K | $108K | $976K | $519K | — | View 990 |
| 2013 | $97K | $117K | $1.0M | $529K | — | View 990 |
| 2012 | $95K | $121K | $1.1M | $547K | — | View 990 |
| 2011 | $92K | $122K | $1.1M | $555K | — | View 990 |
Year-by-Year Financial Summary
- 2022: Revenue of $184K, expenses of $192K, and assets of $736K (revenue +33.0% year-over-year).
- 2021: Revenue of $138K, expenses of $146K, and assets of $766K (revenue +114.0% year-over-year).
- 2020: Revenue of $65K, expenses of $60K, and assets of $822K (revenue -1.6% year-over-year).
- 2019: Revenue of $66K, expenses of $102K, and assets of $820K (revenue -20.1% year-over-year).
- 2018: Revenue of $82K, expenses of $115K, and assets of $855K (revenue +4.8% year-over-year).
- 2017: Revenue of $78K, expenses of $106K, and assets of $875K (revenue -37.5% year-over-year).
- 2016: Revenue of $125K, expenses of $117K, and assets of $942K (revenue +17.8% year-over-year).
- 2015: Revenue of $107K, expenses of $118K, and assets of $955K (revenue +49.2% year-over-year).
- 2014: Revenue of $71K, expenses of $108K, and assets of $976K (revenue -26.1% year-over-year).
- 2013: Revenue of $97K, expenses of $117K, and assets of $1.0M (revenue +1.1% year-over-year).
- 2012: Revenue of $95K, expenses of $121K, and assets of $1.1M (revenue +3.7% year-over-year).
- 2011: Revenue of $92K, expenses of $122K, and assets of $1.1M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Maine Lighthouse Museum Inc:
Data Sources and Methodology
This transparency report for Maine Lighthouse Museum 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.