Maine Resource Development Corp
Maine Resource Development Corp faces persistent deficits and declining assets, with liabilities consistently exceeding assets.
EIN: 10358145 · Portland, ME · NTEE: P73 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $739K |
| Total Expenses | $748K |
| Program Spending | 70% |
| Net Assets | $-273,401 |
| Transparency Score | 45/100 |
Is Maine Resource Development Corp Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Maine Resource Development Corp directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Maine Resource Development Corp
Maine Resource Development Corp (EIN: 10358145) is a nonprofit organization based in Portland, ME, classified under NTEE code P73. The organization reported total revenue of $739K and total assets of $121K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Maine Resource Development Corp's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Maine Resource Development Corp is a small nonprofit that has been operating for 35 years, with 9 years of IRS 990 filings on record (2011–2022). Revenue has grown at a compound annual rate of 0.5%.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
| Total Revenue | $739K |
| Total Expenses | $748K |
| Surplus / Deficit | $-9,115 |
| Total Assets | $121K |
| Total Liabilities | $395K |
| Net Assets | $-273,401 |
| Operating Margin | -1.2% |
| Debt-to-Asset Ratio | 325.7% |
| Months of Reserves | 1.9 months |
Financial Health Grade: D
In 2022, Maine Resource Development Corp reported a deficit of $9K with expenses exceeding revenue, holds 1.9 months of operating reserves (limited), has a debt-to-asset ratio of 325.7% (high leverage).
Financial Trends
Over 9 years of filings (2011–2022), Maine Resource Development Corp's revenue has grown at a compound annual growth rate (CAGR) of 0.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2022 | +18.0% | +12.8% | -39.1% |
| 2021 | +6.3% | -3.6% | -6.4% |
| 2020 | -16.3% | -2.3% | -8.2% |
| 2019 | -7.3% | -4.1% | +26.6% |
| 2015 | +6.0% | +2.0% | +7.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1991 |
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 Resource Development Corp with a Mission Score of 45 out of 100 (Fair). 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 Resource Development Corp allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $9K, with expenses exceeding revenue.
- Debt-to-asset ratio: 325.7%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, suggesting that executive leadership may be entirely volunteer-based or compensated through non-officer roles, which could obscure true leadership costs relative to the organization's size and revenue.
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 Resource Development Corp's IRS 990 filings:
- Consistent operational deficits (expenses exceeding revenue in most years, e.g., 202206: $748,365 expenses vs. $739,250 revenue).
- Liabilities consistently exceed assets, indicating a high level of financial risk (e.g., 202206: $394,557 liabilities vs. $121,156 assets).
- Declining asset base over the past decade (from $376,469 in 201206 to $121,156 in 202206).
- Lack of reported officer compensation, which could obscure leadership costs or indicate reliance on unpaid leadership.
Strengths
The following positive indicators were identified for Maine Resource Development Corp:
- Consistent filing of IRS 990 forms, demonstrating basic transparency.
- Long operational history with consistent revenue generation in the $600k-$750k range.
Frequently Asked Questions about Maine Resource Development Corp
Is Maine Resource Development Corp a legitimate charity?
Based on AI analysis of IRS 990 filings, Maine Resource Development Corp (EIN: 10358145) significant concerns. Mission Score: 45/100. 4 red flags identified, 2 strengths noted.
How does Maine Resource Development Corp spend its money?
Maine Resource Development Corp directs 70% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Maine Resource Development Corp tax-deductible?
Maine Resource Development Corp is registered as a tax-exempt nonprofit (EIN: 10358145). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Maine Resource Development Corp's spending goes to programs?
Maine Resource Development Corp directs 70% to programs, 10% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
How does Maine Resource Development Corp compare to similar nonprofits?
With a transparency score of 45/100 (Fair), Maine Resource Development Corp is near average for NTEE category P73 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Maine Resource Development Corp located?
Maine Resource Development Corp is headquartered in Portland, Maine and files with the IRS under EIN 10358145. It is classified under NTEE code P73.
How many years of IRS 990 filings does Maine Resource Development Corp have?
Maine Resource Development Corp has 9 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 $739K in total revenue.
Is Maine Resource Development Corp financially stable?
No, the organization shows signs of financial instability, consistently operating at a deficit (e.g., $739,250 revenue vs. $748,365 expenses in 202206) and having liabilities significantly exceeding assets ($394,557 liabilities vs. $121,156 assets in 202206).
What is the trend in the organization's assets?
The organization's assets have shown a concerning downward trend, decreasing from $376,469 in 201206 to $121,156 in 202206.
How does executive compensation compare to similar nonprofits?
The reported 0% officer compensation is unusual for an organization of this revenue size and could indicate a volunteer-led structure or that compensation is categorized differently, making direct comparison difficult without further detail.
What is the organization's long-term financial outlook?
Given the consistent deficits and declining asset base, the long-term financial outlook appears challenging without significant changes in revenue generation or expense management.
Filing History
IRS 990 filing history for Maine Resource Development Corp showing financial trends over 9 years of public records:
Over 9 years of IRS 990 filings (2011–2022), Maine Resource Development Corp's revenue has grown by 5.7%, moving from $699K to $739K. Total assets decreased by 59.1% over the same period, from $296K to $121K. Total functional expenses rose by 6%, from $706K to $748K. In its most recent filing year (2022), Maine Resource Development Corp reported a deficit of $9K, with expenses exceeding revenue. The organization holds $395K in liabilities against $121K in assets (debt-to-asset ratio: 325.7%), resulting in net assets of $-273,401.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2022 | $739K | $748K | $121K | $395K | — | View 990 |
| 2021 | $627K | $664K | $199K | $463K | — | View 990 |
| 2020 | $589K | $688K | $213K | $440K | — | View 990 |
| 2019 | $704K | $704K | $232K | $360K | — | View 990 |
| 2015 | $760K | $734K | $183K | $294K | — | View 990 |
| 2014 | $716K | $720K | $170K | $306K | — | View 990 |
| 2013 | $680K | $725K | $236K | $369K | — | View 990 |
| 2012 | $732K | $727K | $376K | $464K | — | View 990 |
| 2011 | $699K | $706K | $296K | $375K | — | View 990 |
Year-by-Year Financial Summary
- 2022: Revenue of $739K, expenses of $748K, and assets of $121K (revenue +18.0% year-over-year).
- 2021: Revenue of $627K, expenses of $664K, and assets of $199K (revenue +6.3% year-over-year).
- 2020: Revenue of $589K, expenses of $688K, and assets of $213K (revenue -16.3% year-over-year).
- 2019: Revenue of $704K, expenses of $704K, and assets of $232K (revenue -7.3% year-over-year).
- 2015: Revenue of $760K, expenses of $734K, and assets of $183K (revenue +6.0% year-over-year).
- 2014: Revenue of $716K, expenses of $720K, and assets of $170K (revenue +5.4% year-over-year).
- 2013: Revenue of $680K, expenses of $725K, and assets of $236K (revenue -7.2% year-over-year).
- 2012: Revenue of $732K, expenses of $727K, and assets of $376K (revenue +4.7% year-over-year).
- 2011: Revenue of $699K, expenses of $706K, and assets of $296K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Maine Resource Development Corp:
Data Sources and Methodology
This transparency report for Maine Resource Development Corp 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.