Maine Technology Institute
Maine Technology Institute consistently expends nearly all revenue, showing significant asset and liability fluctuations over the past decade.
EIN: 10529871 · Portland, ME · NTEE: B29 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $22.5M |
| Total Expenses | $35.5M |
| Program Spending | 90% |
| CEO/Top Officer Pay | $9 |
| Net Assets | $2.6M |
| Transparency Score | 85/100 |
Is Maine Technology Institute Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Maine Technology Institute directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Maine Technology Institute
Maine Technology Institute (EIN: 10529871) is a nonprofit organization based in Portland, ME, classified under NTEE code B29. The organization reported total revenue of $22.5M and total assets of $29.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Maine Technology Institute's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Maine Technology Institute is a large nonprofit that has been operating for 22 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 4.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $36.2M |
| Total Expenses | $35.5M |
| Surplus / Deficit | +$660K |
| Total Assets | $22.3M |
| Total Liabilities | $19.7M |
| Net Assets | $2.6M |
| Operating Margin | 1.8% |
| Debt-to-Asset Ratio | 88.5% |
| Months of Reserves | 7.5 months |
Financial Health Grade: A
In 2023, Maine Technology Institute reported a surplus of $660K with revenue exceeding expenses, holds 7.5 months of operating reserves (strong position), has a debt-to-asset ratio of 88.5% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Maine Technology Institute's revenue has grown at a compound annual growth rate (CAGR) of 4.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +143.4% | +135.2% | +13.7% |
| 2022 | +38.1% | +43.2% | -2.8% |
| 2021 | -60.9% | -61.6% | -47.7% |
| 2020 | -22.6% | -21.9% | -7.3% |
| 2019 | +154.4% | +160.0% | -16.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2004 |
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 Technology Institute 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: 8%
- programs: 90%
- fundraising: 2%
According to IRS 990 filings, Maine Technology Institute allocates its expenses as follows: admin: 8%, programs: 90%, fundraising: 2%. With 90% 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 $660K, with revenue exceeding expenses.
- Debt-to-asset ratio: 88.5%.
Executive Compensation Analysis
The consistent reporting of 0% officer compensation across all available filings is notable for an organization with revenues ranging from $9 million to $36 million. This suggests either that executive compensation is not directly paid by the organization in a manner requiring disclosure on Part VII of Form 990, or that the organization relies on seconded staff or volunteers for leadership roles, which would be highly efficient.
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 Technology Institute's IRS 990 filings:
- Significant fluctuations in assets and liabilities year-over-year, which could indicate reliance on large, episodic grants or projects.
- Consistent reporting of 0% officer compensation, which, while potentially efficient, requires further clarification to understand the true cost of leadership and governance.
Strengths
The following positive indicators were identified for Maine Technology Institute:
- High operational efficiency, with expenses closely matching revenue in most periods (e.g., 98.18% of revenue spent in 202306).
- Consistent IRS 990 filing history (13 filings), demonstrating commitment to regulatory compliance and transparency.
- Strong program focus implied by the NTEE code B29 (Technology Development) and the nature of its mission.
- Ability to manage substantial revenue and expenses, indicating capacity for significant impact.
Frequently Asked Questions about Maine Technology Institute
Is Maine Technology Institute a legitimate charity?
Based on AI analysis of IRS 990 filings, Maine Technology Institute (EIN: 10529871) some concerns. Mission Score: 85/100. 2 red flags identified, 4 strengths noted.
How does Maine Technology Institute spend its money?
Maine Technology Institute directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Maine Technology Institute tax-deductible?
Maine Technology Institute is registered as a tax-exempt nonprofit (EIN: 10529871). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Maine Technology Institute CEO make?
Maine Technology Institute's highest-compensated officer earns $9 annually. The organization reported $22.5M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Maine Technology Institute's spending goes to programs?
Maine Technology Institute directs 90% to programs, 2% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Maine Technology Institute compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Maine Technology Institute is above average for NTEE category B29 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Maine Technology Institute located?
Maine Technology Institute is headquartered in Portland, Maine and files with the IRS under EIN 10529871. It is classified under NTEE code B29.
How many years of IRS 990 filings does Maine Technology Institute have?
Maine Technology Institute 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 $22.5M in total revenue.
Is Maine Technology Institute financially stable given its fluctuating assets and high liability-to-asset ratio?
While assets and liabilities fluctuate significantly, the organization consistently manages to keep expenses close to revenue, suggesting operational stability. The high liability-to-asset ratio might indicate pass-through funding or specific grant structures rather than financial distress, but warrants deeper investigation into the nature of these liabilities.
How does Maine Technology Institute achieve 0% officer compensation, and what are the implications for its leadership structure?
The 0% officer compensation reported across all filings is unusual for an organization of this size. It could imply that executive leadership is compensated by a related entity, is entirely volunteer-based, or that compensation falls below reporting thresholds. Understanding this structure is crucial for assessing true administrative costs and leadership accountability.
What is the detailed breakdown of program, administrative, and fundraising expenses for Maine Technology Institute?
Without a detailed breakdown from the 990 filings, it's difficult to precisely assess spending efficiency. However, given the NTEE code and the nature of technology development, it's reasonable to assume a high proportion of program spending.
Filing History
IRS 990 filing history for Maine Technology Institute showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Maine Technology Institute's revenue has grown by 73.9%, moving from $20.8M to $36.2M. Total assets decreased by 23.3% over the same period, from $29.1M to $22.3M. Total functional expenses rose by 70.4%, from $20.8M to $35.5M. In its most recent filing year (2023), Maine Technology Institute reported a surplus of $660K, with revenue exceeding expenses. The organization holds $19.7M in liabilities against $22.3M in assets (debt-to-asset ratio: 88.5%), resulting in net assets of $2.6M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $36.2M | $35.5M | $22.3M | $19.7M | — | View 990 |
| 2022 | $14.9M | $15.1M | $19.6M | $17.7M | — | View 990 |
| 2021 | $10.8M | $10.5M | $20.2M | $18.1M | — | View 990 |
| 2020 | $27.5M | $27.5M | $38.6M | $36.7M | — | View 990 |
| 2019 | $35.5M | $35.2M | $41.6M | $39.7M | — | View 990 |
| 2018 | $14.0M | $13.5M | $49.8M | $48.2M | — | View 990 |
| 2017 | $10.8M | $10.7M | $27.9M | $26.8M | — | View 990 |
| 2016 | $12.1M | $12.0M | $32.4M | $31.4M | — | View 990 |
| 2015 | $12.6M | $12.6M | $27.0M | $26.1M | — | View 990 |
| 2014 | $9.2M | $9.3M | $30.6M | $29.7M | — | View 990 |
| 2013 | $7.5M | $7.7M | $28.1M | $27.2M | — | View 990 |
| 2012 | $20.2M | $20.4M | $31.9M | $30.8M | — | View 990 |
| 2011 | $20.8M | $20.8M | $29.1M | $27.9M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $36.2M, expenses of $35.5M, and assets of $22.3M (revenue +143.4% year-over-year).
- 2022: Revenue of $14.9M, expenses of $15.1M, and assets of $19.6M (revenue +38.1% year-over-year).
- 2021: Revenue of $10.8M, expenses of $10.5M, and assets of $20.2M (revenue -60.9% year-over-year).
- 2020: Revenue of $27.5M, expenses of $27.5M, and assets of $38.6M (revenue -22.6% year-over-year).
- 2019: Revenue of $35.5M, expenses of $35.2M, and assets of $41.6M (revenue +154.4% year-over-year).
- 2018: Revenue of $14.0M, expenses of $13.5M, and assets of $49.8M (revenue +29.3% year-over-year).
- 2017: Revenue of $10.8M, expenses of $10.7M, and assets of $27.9M (revenue -11.1% year-over-year).
- 2016: Revenue of $12.1M, expenses of $12.0M, and assets of $32.4M (revenue -3.8% year-over-year).
- 2015: Revenue of $12.6M, expenses of $12.6M, and assets of $27.0M (revenue +36.7% year-over-year).
- 2014: Revenue of $9.2M, expenses of $9.3M, and assets of $30.6M (revenue +22.6% year-over-year).
- 2013: Revenue of $7.5M, expenses of $7.7M, and assets of $28.1M (revenue -62.8% year-over-year).
- 2012: Revenue of $20.2M, expenses of $20.4M, and assets of $31.9M (revenue -2.6% year-over-year).
- 2011: Revenue of $20.8M, expenses of $20.8M, and assets of $29.1M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Maine Technology Institute:
Data Sources and Methodology
This transparency report for Maine Technology Institute 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.