Maine Traditional Music Association
Maine Traditional Music Association shows consistent financial growth and zero liabilities.
EIN: 10541597 · Woolwich, ME · NTEE: A68 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $421K |
| Total Expenses | $409K |
| Program Spending | 85% |
| Net Assets | $280K |
| Transparency Score | 90/100 |
Is Maine Traditional Music Association Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Maine Traditional Music Association directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Maine Traditional Music Association
Maine Traditional Music Association (EIN: 10541597) is a nonprofit organization based in Woolwich, ME, classified under NTEE code A68. The organization reported total revenue of $421K and total assets of $163K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Maine Traditional Music Association's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Maine Traditional Music Association is a small nonprofit that has been operating for 18 years, with 13 years of IRS 990 filings on record (2010–2023). Revenue has grown at a compound annual rate of 4.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $458K |
| Total Expenses | $409K |
| Surplus / Deficit | +$49K |
| Total Assets | $280K |
| Net Assets | $280K |
| Operating Margin | 10.6% |
| Months of Reserves | 8.2 months |
Financial Health Grade: A
In 2023, Maine Traditional Music Association reported a surplus of $49K with revenue exceeding expenses, holds 8.2 months of operating reserves (strong position).
Financial Trends
Over 13 years of filings (2010–2023), Maine Traditional Music Association's revenue has grown at a compound annual growth rate (CAGR) of 4.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +41.6% | +37.5% | +17.1% |
| 2022 | +287.3% | +200.7% | +23.1% |
| 2020 | -75.9% | -72.2% | -7.4% |
| 2019 | +0.4% | +51.9% | -4.7% |
| 2018 | -11.4% | -39.7% | +49.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 2008 |
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 Traditional Music Association with a Mission Score of 90 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 Traditional Music Association 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 $49K, with revenue exceeding expenses.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that the organization's officers are likely volunteers or compensated through non-officer categories, which is highly favorable for a nonprofit of its size.
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.
Strengths
The following positive indicators were identified for Maine Traditional Music Association:
- Consistent zero liabilities across all filings, indicating excellent financial stability.
- 0% officer compensation reported, suggesting volunteer leadership or highly efficient compensation practices.
- Strong asset growth, increasing from $34,337 in 201312 to $279,749 in 202312.
- Revenue exceeding expenses in most recent periods (e.g., 202312: $457,658 revenue vs. $409,000 expenses), leading to surpluses.
- Significant rebound in revenue post-2020, demonstrating resilience and strong donor support.
Frequently Asked Questions about Maine Traditional Music Association
Is Maine Traditional Music Association a legitimate charity?
Based on AI analysis of IRS 990 filings, Maine Traditional Music Association (EIN: 10541597) appears legitimate. Mission Score: 90/100. 0 red flags identified, 5 strengths noted.
How does Maine Traditional Music Association spend its money?
Maine Traditional Music Association directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Maine Traditional Music Association tax-deductible?
Maine Traditional Music Association is registered as a tax-exempt nonprofit (EIN: 10541597). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Maine Traditional Music Association's spending goes to programs?
Maine Traditional Music Association directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Maine Traditional Music Association compare to similar nonprofits?
With a transparency score of 90/100 (Excellent), Maine Traditional Music Association is above average for NTEE category A68 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Maine Traditional Music Association located?
Maine Traditional Music Association is headquartered in Woolwich, Maine and files with the IRS under EIN 10541597. It is classified under NTEE code A68.
How many years of IRS 990 filings does Maine Traditional Music Association have?
Maine Traditional Music Association 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 $421K in total revenue.
Is Maine Traditional Music Association a good charity?
Based on the available financial data, Maine Traditional Music Association appears to be a good charity. It consistently maintains zero liabilities, has shown revenue growth, and reports 0% officer compensation, suggesting a strong commitment to its mission and efficient use of funds.
How has the organization's revenue trended over time?
The organization's revenue has shown significant fluctuation but an overall upward trend, particularly in recent years. After a dip to $83,475 in 202012, revenue rebounded strongly to $323,299 in 202212 and $457,658 in 202312, indicating robust fundraising and support.
What is the organization's asset growth like?
The organization has demonstrated strong asset growth, increasing from $34,337 in 201312 to $279,749 in 202312. This consistent growth, especially in recent periods, indicates sound financial management and the ability to build reserves.
Filing History
IRS 990 filing history for Maine Traditional Music Association showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2010–2023), Maine Traditional Music Association's revenue has grown by 84.8%, moving from $248K to $458K. Total assets increased by 790.4% over the same period, from $31K to $280K. Total functional expenses rose by 65.9%, from $247K to $409K. In its most recent filing year (2023), Maine Traditional Music Association reported a surplus of $49K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $458K | $409K | $280K | $0 | — | — |
| 2022 | $323K | $297K | $239K | $0 | — | View 990 |
| 2020 | $83K | $99K | $194K | $0 | — | — |
| 2019 | $346K | $356K | $210K | $0 | — | View 990 |
| 2018 | $344K | $234K | $220K | $0 | — | View 990 |
| 2017 | $389K | $389K | $147K | $0 | — | View 990 |
| 2016 | $378K | $350K | $147K | $0 | — | View 990 |
| 2015 | $296K | $317K | $118K | $0 | — | View 990 |
| 2014 | $382K | $300K | $116K | $0 | — | View 990 |
| 2013 | $305K | $304K | $34K | $0 | — | View 990 |
| 2012 | $251K | $251K | $33K | $0 | — | View 990 |
| 2011 | $250K | $248K | $33K | $0 | — | View 990 |
| 2010 | $248K | $247K | $31K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $458K, expenses of $409K, and assets of $280K (revenue +41.6% year-over-year).
- 2022: Revenue of $323K, expenses of $297K, and assets of $239K (revenue +287.3% year-over-year).
- 2020: Revenue of $83K, expenses of $99K, and assets of $194K (revenue -75.9% year-over-year).
- 2019: Revenue of $346K, expenses of $356K, and assets of $210K (revenue +0.4% year-over-year).
- 2018: Revenue of $344K, expenses of $234K, and assets of $220K (revenue -11.4% year-over-year).
- 2017: Revenue of $389K, expenses of $389K, and assets of $147K (revenue +2.8% year-over-year).
- 2016: Revenue of $378K, expenses of $350K, and assets of $147K (revenue +27.9% year-over-year).
- 2015: Revenue of $296K, expenses of $317K, and assets of $118K (revenue -22.5% year-over-year).
- 2014: Revenue of $382K, expenses of $300K, and assets of $116K (revenue +25.3% year-over-year).
- 2013: Revenue of $305K, expenses of $304K, and assets of $34K (revenue +21.3% year-over-year).
- 2012: Revenue of $251K, expenses of $251K, and assets of $33K (revenue +0.5% year-over-year).
- 2011: Revenue of $250K, expenses of $248K, and assets of $33K (revenue +0.9% year-over-year).
- 2010: Revenue of $248K, expenses of $247K, and assets of $31K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Maine Traditional Music Association:
Data Sources and Methodology
This transparency report for Maine Traditional Music Association 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.