Maine State Ballet
Maine State Ballet maintains stable finances with growing assets and no reported officer compensation.
EIN: 10420070 · Falmouth, ME · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.3M |
| Total Expenses | $1.2M |
| Program Spending | 85% |
| CEO/Top Officer Pay | $1 |
| Net Assets | $1.3M |
| Transparency Score | 85/100 |
Is Maine State Ballet Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Maine State Ballet directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Maine State Ballet
Maine State Ballet (EIN: 10420070) is a nonprofit organization based in Falmouth, ME. The organization reported total revenue of $1.3M and total assets of $2.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Maine State Ballet's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Maine State Ballet is a mid-size nonprofit that has been operating for 39 years, with 14 years of IRS 990 filings on record (2010–2023). Revenue has grown at a compound annual rate of 3.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.3M |
| Total Expenses | $1.2M |
| Surplus / Deficit | +$34K |
| Total Assets | $2.6M |
| Total Liabilities | $1.4M |
| Net Assets | $1.3M |
| Operating Margin | 2.7% |
| Debt-to-Asset Ratio | 52.4% |
| Months of Reserves | 25.7 months |
Financial Health Grade: A
In 2023, Maine State Ballet reported a surplus of $34K with revenue exceeding expenses, holds 25.7 months of operating reserves (strong position), has a debt-to-asset ratio of 52.4% (high leverage).
Financial Trends
Over 14 years of filings (2010–2023), Maine State Ballet's revenue has grown at a compound annual growth rate (CAGR) of 3.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +4.1% | +17.2% | -0.5% |
| 2022 | +10.6% | +142.6% | +5.3% |
| 2021 | +21.9% | -53.1% | +12.0% |
| 2020 | -20.7% | -16.6% | +9.7% |
| 2019 | +13.1% | +5.9% | -0.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1987 |
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 State Ballet 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: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Maine State Ballet 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 (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $34K, with revenue exceeding expenses.
- Debt-to-asset ratio: 52.4%.
Executive Compensation Analysis
Maine State Ballet consistently reports 0% officer compensation across all available filings, which is highly unusual for an organization of its size with over $1 million in annual revenue. This suggests either a fully volunteer-led executive team or that executive compensation is categorized differently within their financial statements, warranting further investigation for complete transparency.
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 State Ballet's IRS 990 filings:
- Consistent 0% officer compensation reported, which is unusual for an organization of this size and warrants further inquiry into executive remuneration practices.
- High level of liabilities relative to assets, with liabilities at $1,384,581 against $2,644,480 in assets in 2023, indicating significant debt or obligations.
Strengths
The following positive indicators were identified for Maine State Ballet:
- Consistent revenue generation, with revenues generally exceeding expenses in recent years (e.g., $1,268,498 revenue vs. $1,234,633 expenses in 2023).
- Steady growth in assets, increasing from $1,998,660 in 2014 to $2,644,480 in 2023.
- Demonstrated financial stability with surpluses in recent years (e.g., $33,865 surplus in 2023, $165,380 surplus in 2022).
- Long history of IRS 990 filings (14 filings), indicating consistent compliance and transparency in reporting.
Frequently Asked Questions about Maine State Ballet
Is Maine State Ballet a legitimate charity?
Maine State Ballet (EIN: 10420070) is a registered tax-exempt nonprofit based in Maine. Our AI analysis gives it a Mission Score of 85/100. It has 14 years of IRS 990 filings on record. Total revenue: $1.3M. 2 red flags identified. 4 strengths noted. Financial health grade: A.
How does Maine State Ballet spend its money?
Maine State Ballet directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Maine State Ballet tax-deductible?
Maine State Ballet is registered as a tax-exempt nonprofit (EIN: 10420070). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Maine State Ballet CEO make?
Maine State Ballet's highest-compensated officer earns $1 annually. The organization reported $1.3M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Maine State Ballet's spending goes to programs?
Maine State Ballet directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Maine State Ballet located?
Maine State Ballet is headquartered in Falmouth, Maine and files with the IRS under EIN 10420070.
How many years of IRS 990 filings does Maine State Ballet have?
Maine State Ballet has 14 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 $1.3M in total revenue.
Is Maine State Ballet a good charity?
Based on the available data, Maine State Ballet appears to be a financially stable organization with consistent revenue generation and asset growth. The lack of reported officer compensation is a unique characteristic that could be viewed positively for efficiency, assuming all compensation is transparently disclosed elsewhere. Their consistent surpluses in recent years (e.g., $33,865 in 2023 and $165,380 in 2022) indicate responsible financial management.
How does Maine State Ballet manage its liabilities?
Maine State Ballet carries substantial liabilities, which were $1,384,581 in 2023 against assets of $2,644,480. While assets exceed liabilities, the high proportion of liabilities suggests significant debt or other obligations. This could be related to property or operational financing, and understanding the nature of these liabilities would provide a clearer picture of their long-term financial health.
What is the nature of the 0% officer compensation?
The consistent reporting of 0% officer compensation is highly unusual for an organization with over $1 million in annual revenue. It raises questions about how executive leadership is compensated, if at all, or if compensation is reported under different expense categories. Further detail would be needed to understand the full picture of executive remuneration and its impact on the organization's finances.
Filing History
IRS 990 filing history for Maine State Ballet showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2010–2023), Maine State Ballet's revenue has grown by 64.8%, moving from $770K to $1.3M. Total assets increased by 31.2% over the same period, from $2.0M to $2.6M. Total functional expenses rose by 48%, from $834K to $1.2M. In its most recent filing year (2023), Maine State Ballet reported a surplus of $34K, with revenue exceeding expenses. The organization holds $1.4M in liabilities against $2.6M in assets (debt-to-asset ratio: 52.4%), resulting in net assets of $1.3M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.3M | $1.2M | $2.6M | $1.4M | — | — |
| 2022 | $1.2M | $1.1M | $2.7M | $1.4M | — | View 990 |
| 2021 | $1.1M | $434K | $2.5M | $1.5M | — | View 990 |
| 2020 | $904K | $927K | $2.3M | $1.9M | — | — |
| 2019 | $1.1M | $1.1M | $2.1M | $1.7M | — | View 990 |
| 2018 | $1.0M | $1.0M | $2.1M | $1.8M | — | View 990 |
| 2017 | $1.1M | $981K | $2.1M | $1.8M | — | View 990 |
| 2016 | $1.0M | $952K | $2.0M | $1.8M | — | View 990 |
| 2015 | $956K | $943K | $2.0M | $1.9M | — | View 990 |
| 2014 | $989K | $969K | $2.0M | $1.8M | — | View 990 |
| 2013 | $876K | $891K | $1.9M | $2.0M | — | View 990 |
| 2012 | $441K | $495K | $1.9M | $2.0M | — | View 990 |
| 2011 | $849K | $849K | $2.0M | $2.0M | — | View 990 |
| 2010 | $770K | $834K | $2.0M | $2.0M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.3M, expenses of $1.2M, and assets of $2.6M (revenue +4.1% year-over-year).
- 2022: Revenue of $1.2M, expenses of $1.1M, and assets of $2.7M (revenue +10.6% year-over-year).
- 2021: Revenue of $1.1M, expenses of $434K, and assets of $2.5M (revenue +21.9% year-over-year).
- 2020: Revenue of $904K, expenses of $927K, and assets of $2.3M (revenue -20.7% year-over-year).
- 2019: Revenue of $1.1M, expenses of $1.1M, and assets of $2.1M (revenue +13.1% year-over-year).
- 2018: Revenue of $1.0M, expenses of $1.0M, and assets of $2.1M (revenue -8.2% year-over-year).
- 2017: Revenue of $1.1M, expenses of $981K, and assets of $2.1M (revenue +8.4% year-over-year).
- 2016: Revenue of $1.0M, expenses of $952K, and assets of $2.0M (revenue +6.1% year-over-year).
- 2015: Revenue of $956K, expenses of $943K, and assets of $2.0M (revenue -3.3% year-over-year).
- 2014: Revenue of $989K, expenses of $969K, and assets of $2.0M (revenue +13.0% year-over-year).
- 2013: Revenue of $876K, expenses of $891K, and assets of $1.9M (revenue +98.8% year-over-year).
- 2012: Revenue of $441K, expenses of $495K, and assets of $1.9M (revenue -48.1% year-over-year).
- 2011: Revenue of $849K, expenses of $849K, and assets of $2.0M (revenue +10.3% year-over-year).
- 2010: Revenue of $770K, expenses of $834K, and assets of $2.0M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Maine State Ballet:
Data Sources and Methodology
This transparency report for Maine State Ballet 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.