Maine Maritime Museum
Maine Maritime Museum maintains strong assets despite recent operational deficits and no reported officer compensation.
EIN: 10271477 · Bath, ME · NTEE: A500 · Updated: 2026-03-28
Is Maine Maritime Museum Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Maine Maritime Museum directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Maine Maritime Museum
Maine Maritime Museum (EIN: 10271477) is a nonprofit organization based in Bath, ME, classified under NTEE code A500. The organization reported total revenue of $4.7M and total assets of $17.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Maine Maritime Museum's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Maine Maritime Museum with a Mission Score of 80 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: 75%
- fundraising: 10%
According to IRS 990 filings, Maine Maritime Museum allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% directed toward programs, this reflects a strong commitment to its charitable mission.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers received compensation from the organization, which is highly unusual for an organization of its size with assets exceeding $17 million.
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 Maritime Museum's IRS 990 filings:
- Consistent operational deficits in recent years (e.g., 2023: $1.3M deficit, 2022: $138K deficit), indicating expenses exceeding revenue.
- Unusually low revenue in the latest filing ($2,760,199) compared to prior years, potentially impacting sustainability.
- 0% officer compensation reported across all filings, which is highly uncommon for an organization of this scale and could indicate a lack of transparency in how executive leadership is compensated or structured.
Strengths
The following positive indicators were identified for Maine Maritime Museum:
- Strong and growing asset base, increasing from $12.4M in 2014 to $17.0M in 2023, providing financial stability.
- Consistent IRS 990 filing history (13 filings), demonstrating good compliance and transparency.
- Low liabilities relative to assets (e.g., $515,016 liabilities vs. $17,067,150 assets in 2023), indicating a healthy balance sheet.
Frequently Asked Questions about Maine Maritime Museum
Is Maine Maritime Museum a legitimate charity?
Based on AI analysis of IRS 990 filings, Maine Maritime Museum (EIN: 10271477) some concerns. Mission Score: 80/100. 3 red flags identified, 3 strengths noted.
How does Maine Maritime Museum spend its money?
Maine Maritime Museum directs 75% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Maine Maritime Museum tax-deductible?
Maine Maritime Museum is registered as a tax-exempt nonprofit (EIN: 10271477). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Maine Maritime Museum a good charity?
Based on the available data, the Maine Maritime Museum appears to be a well-established organization with substantial assets and a consistent filing history. The lack of reported officer compensation is a notable positive, suggesting resources are directed elsewhere. However, recent operational deficits (e.g., 2023 expenses of $4.1M vs. revenue of $2.7M) warrant closer examination of revenue generation and expense management.
Why is officer compensation reported as 0%?
The consistent reporting of 0% for officer compensation across all 10 available filings is highly unusual for an organization of this size. It could indicate that officers are compensated by a related entity, are volunteers, or that compensation is reported under a different expense category not explicitly labeled as 'officer compensation' in the summary data provided.
How has the museum's revenue trended over the past few years?
The museum's revenue has fluctuated significantly. It was $3,611,205 in 2021, increased to $4,150,146 in 2022, but then dropped to $2,760,199 in 2023, representing a notable decrease in the most recent period.
What is the trend in the museum's assets?
The museum's assets have shown a strong upward trend over the past decade, growing from $12,431,875 in 2014 to $17,067,150 in 2023, indicating good financial stewardship and growth in its resource base.
Filing History
IRS 990 filing history for Maine Maritime Museum showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Maine Maritime Museum's revenue has grown by 64.8%, moving from $1.7M to $2.8M. Total assets increased by 50.6% over the same period, from $11.3M to $17.1M. Total functional expenses rose by 109.9%, from $2.0M to $4.1M. In its most recent filing year (2023), Maine Maritime Museum reported a deficit of $1.3M, with expenses exceeding revenue. The organization holds $515K in liabilities against $17.1M in assets (debt-to-asset ratio: 3.0%), resulting in net assets of $16.6M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $2.8M | $4.1M | $17.1M | $515K | — | — |
| 2022 | $4.2M | $4.3M | $17.6M | $638K | — | View 990 |
| 2021 | $3.6M | $3.1M | $19.1M | $516K | — | View 990 |
| 2020 | $2.6M | $2.8M | $17.6M | $401K | — | — |
| 2019 | $3.4M | $3.0M | $17.4M | $449K | — | View 990 |
| 2018 | $4.3M | $3.5M | $15.7M | $413K | — | View 990 |
| 2017 | $5.2M | $3.4M | $15.8M | $457K | — | View 990 |
| 2016 | $3.3M | $2.6M | $13.4M | $485K | — | View 990 |
| 2015 | $2.7M | $2.6M | $12.3M | $428K | — | View 990 |
| 2014 | $2.7M | $2.4M | $12.4M | $339K | — | View 990 |
| 2013 | $2.5M | $2.5M | $12.0M | $216K | — | View 990 |
| 2012 | $2.3M | $2.1M | $11.7M | $217K | — | View 990 |
| 2011 | $1.7M | $2.0M | $11.3M | $256K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.8M, expenses of $4.1M, and assets of $17.1M (revenue -33.5% year-over-year).
- 2022: Revenue of $4.2M, expenses of $4.3M, and assets of $17.6M (revenue +14.9% year-over-year).
- 2021: Revenue of $3.6M, expenses of $3.1M, and assets of $19.1M (revenue +40.0% year-over-year).
- 2020: Revenue of $2.6M, expenses of $2.8M, and assets of $17.6M (revenue -23.5% year-over-year).
- 2019: Revenue of $3.4M, expenses of $3.0M, and assets of $17.4M (revenue -21.4% year-over-year).
- 2018: Revenue of $4.3M, expenses of $3.5M, and assets of $15.7M (revenue -18.0% year-over-year).
- 2017: Revenue of $5.2M, expenses of $3.4M, and assets of $15.8M (revenue +58.1% year-over-year).
- 2016: Revenue of $3.3M, expenses of $2.6M, and assets of $13.4M (revenue +23.1% year-over-year).
- 2015: Revenue of $2.7M, expenses of $2.6M, and assets of $12.3M (revenue -0.1% year-over-year).
- 2014: Revenue of $2.7M, expenses of $2.4M, and assets of $12.4M (revenue +5.8% year-over-year).
- 2013: Revenue of $2.5M, expenses of $2.5M, and assets of $12.0M (revenue +9.3% year-over-year).
- 2012: Revenue of $2.3M, expenses of $2.1M, and assets of $11.7M (revenue +38.8% year-over-year).
- 2011: Revenue of $1.7M, expenses of $2.0M, and assets of $11.3M.
Data Sources and Methodology
This transparency report for Maine Maritime 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.