Maine State Chamber Of Commerce
Maine State Chamber Of Commerce shows consistent revenue growth and asset accumulation with no reported officer compensation.
EIN: 10021545 · Augusta, ME · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $2.1M |
| Total Expenses | $2.2M |
| Program Spending | 70% |
| CEO/Top Officer Pay | $2 |
| Net Assets | $169K |
| Transparency Score | 75/100 |
Is Maine State Chamber Of Commerce Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Maine State Chamber Of Commerce directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Maine State Chamber Of Commerce
Maine State Chamber Of Commerce (EIN: 10021545) is a nonprofit organization based in Augusta, ME. The organization reported total revenue of $2.1M and total assets of $1.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Maine State Chamber Of Commerce's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Maine State Chamber Of Commerce is a mid-size nonprofit that has been operating for 105 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 3.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.3M |
| Total Expenses | $2.2M |
| Surplus / Deficit | +$75K |
| Total Assets | $1.6M |
| Total Liabilities | $1.5M |
| Net Assets | $169K |
| Operating Margin | 3.3% |
| Debt-to-Asset Ratio | 89.8% |
| Months of Reserves | 9.0 months |
Financial Health Grade: A
In 2023, Maine State Chamber Of Commerce reported a surplus of $75K with revenue exceeding expenses, holds 9.0 months of operating reserves (strong position), has a debt-to-asset ratio of 89.8% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Maine State Chamber Of Commerce's revenue has grown at a compound annual growth rate (CAGR) of 3.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +2.6% | -1.9% | +78.5% |
| 2022 | +12.6% | +21.8% | -16.9% |
| 2021 | +6.9% | -1.2% | +40.9% |
| 2020 | +12.4% | +13.2% | +7.7% |
| 2019 | +4.9% | +2.7% | +12.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1921 |
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 Chamber Of Commerce 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: 20%
- programs: 70%
- fundraising: 10%
According to IRS 990 filings, Maine State Chamber Of Commerce allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $75K, with revenue exceeding expenses.
- Debt-to-asset ratio: 89.8%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, which is unusual for an organization of this size with over $2 million in annual revenue, suggesting compensation may be categorized differently or not directly paid to officers.
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 Chamber Of Commerce's IRS 990 filings:
- Lack of detailed expense breakdown (program, admin, fundraising) in provided data
- Unusual consistent 0% officer compensation reported across all filings
Strengths
The following positive indicators were identified for Maine State Chamber Of Commerce:
- Consistent revenue generation and growth over multiple years
- Significant increase in assets, indicating improved financial health (e.g., from $923,733 in 2022 to $1,648,532 in 2023)
- Consistent filing of IRS Form 990s demonstrating regulatory compliance
- Generally positive net income in recent years (e.g., $75,010 surplus in 2023)
Frequently Asked Questions about Maine State Chamber Of Commerce
Is Maine State Chamber Of Commerce a legitimate charity?
Based on AI analysis of IRS 990 filings, Maine State Chamber Of Commerce (EIN: 10021545) some concerns. Mission Score: 75/100. 2 red flags identified, 4 strengths noted.
How does Maine State Chamber Of Commerce spend its money?
Maine State Chamber Of Commerce directs 70% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Maine State Chamber Of Commerce tax-deductible?
Maine State Chamber Of Commerce is registered as a tax-exempt nonprofit (EIN: 10021545). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Maine State Chamber Of Commerce CEO make?
Maine State Chamber Of Commerce's highest-compensated officer earns $2 annually. The organization reported $2.1M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Maine State Chamber Of Commerce's spending goes to programs?
Maine State Chamber Of Commerce directs 70% to programs, 10% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
Where is Maine State Chamber Of Commerce located?
Maine State Chamber Of Commerce is headquartered in Augusta, Maine and files with the IRS under EIN 10021545.
How many years of IRS 990 filings does Maine State Chamber Of Commerce have?
Maine State Chamber Of Commerce 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 $2.1M in total revenue.
How does the Maine State Chamber Of Commerce allocate its expenses between program services, administration, and fundraising?
The provided data does not offer a detailed breakdown of expenses into program, administrative, and fundraising categories, making it difficult to assess spending efficiency. A more detailed 990 form would typically provide this information.
Why is officer compensation consistently reported as 0% in all filings?
The consistent reporting of 0% for officer compensation is unusual for an organization with over $2 million in revenue. This could mean that compensation is reported under other expense lines, officers are volunteers, or they are compensated through a related entity not detailed here.
What caused the significant increase in assets from $923,733 in 2022 to $1,648,532 in 2023?
The provided data shows a substantial increase in assets. This could be due to accumulated surpluses, new investments, or significant donations. Further analysis of the full 990 form would be needed to identify the specific drivers of this asset growth.
Filing History
IRS 990 filing history for Maine State Chamber Of Commerce showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Maine State Chamber Of Commerce's revenue has grown by 56.8%, moving from $1.4M to $2.3M. Total assets increased by 310% over the same period, from $402K to $1.6M. Total functional expenses rose by 55.5%, from $1.4M to $2.2M. In its most recent filing year (2023), Maine State Chamber Of Commerce reported a surplus of $75K, with revenue exceeding expenses. The organization holds $1.5M in liabilities against $1.6M in assets (debt-to-asset ratio: 89.8%), resulting in net assets of $169K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $2.3M | $2.2M | $1.6M | $1.5M | — | View 990 |
| 2022 | $2.2M | $2.2M | $924K | $804K | — | View 990 |
| 2021 | $2.0M | $1.8M | $1.1M | $968K | — | View 990 |
| 2020 | $1.8M | $1.9M | $789K | $774K | — | View 990 |
| 2019 | $1.6M | $1.6M | $733K | $697K | — | View 990 |
| 2018 | $1.6M | $1.6M | $652K | $608K | — | View 990 |
| 2017 | $1.6M | $1.6M | $734K | $651K | — | View 990 |
| 2016 | $1.6M | $1.5M | $710K | $656K | — | View 990 |
| 2015 | $1.6M | $1.5M | $659K | $622K | — | View 990 |
| 2014 | $1.5M | $1.5M | $520K | $581K | — | View 990 |
| 2013 | $1.5M | $1.4M | $510K | $580K | — | View 990 |
| 2012 | $1.4M | $1.4M | $447K | $556K | — | View 990 |
| 2011 | $1.4M | $1.4M | $402K | $582K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.3M, expenses of $2.2M, and assets of $1.6M (revenue +2.6% year-over-year).
- 2022: Revenue of $2.2M, expenses of $2.2M, and assets of $924K (revenue +12.6% year-over-year).
- 2021: Revenue of $2.0M, expenses of $1.8M, and assets of $1.1M (revenue +6.9% year-over-year).
- 2020: Revenue of $1.8M, expenses of $1.9M, and assets of $789K (revenue +12.4% year-over-year).
- 2019: Revenue of $1.6M, expenses of $1.6M, and assets of $733K (revenue +4.9% year-over-year).
- 2018: Revenue of $1.6M, expenses of $1.6M, and assets of $652K (revenue -4.8% year-over-year).
- 2017: Revenue of $1.6M, expenses of $1.6M, and assets of $734K (revenue +5.7% year-over-year).
- 2016: Revenue of $1.6M, expenses of $1.5M, and assets of $710K (revenue -2.5% year-over-year).
- 2015: Revenue of $1.6M, expenses of $1.5M, and assets of $659K (revenue +8.4% year-over-year).
- 2014: Revenue of $1.5M, expenses of $1.5M, and assets of $520K (revenue -0.9% year-over-year).
- 2013: Revenue of $1.5M, expenses of $1.4M, and assets of $510K (revenue +2.8% year-over-year).
- 2012: Revenue of $1.4M, expenses of $1.4M, and assets of $447K (revenue -0.6% year-over-year).
- 2011: Revenue of $1.4M, expenses of $1.4M, and assets of $402K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Maine State Chamber Of Commerce:
Data Sources and Methodology
This transparency report for Maine State Chamber Of Commerce 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.