Maine Way Inc
Maine Way Inc. reports $0 revenue and assets in its latest filing after years of modest operations.
EIN: 10384908 · Biddeford, ME · NTEE: L41 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Expenses | $45K |
| Program Spending | 75% |
| Net Assets | $59K |
| Transparency Score | 55/100 |
Is Maine Way Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Maine Way Inc directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Maine Way Inc
Maine Way Inc (EIN: 10384908) is a nonprofit organization based in Biddeford, ME, classified under NTEE code L41. The organization reported total revenue of $0 and total assets of $0 according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Maine Way Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Maine Way Inc is a micro nonprofit that has been operating for 27 years, with 9 years of IRS 990 filings on record (2011–2019). Revenue has grown at a compound annual rate of -4.1%.
Key Financial Metrics (2019)
From the most recent IRS 990 filing on record:
| Total Revenue | $50K |
| Total Expenses | $45K |
| Surplus / Deficit | +$5K |
| Total Assets | $138K |
| Total Liabilities | $79K |
| Net Assets | $59K |
| Operating Margin | 10.8% |
| Debt-to-Asset Ratio | 57.6% |
| Months of Reserves | 37.2 months |
Financial Health Grade: A
In 2019, Maine Way Inc reported a surplus of $5K with revenue exceeding expenses, holds 37.2 months of operating reserves (strong position), has a debt-to-asset ratio of 57.6% (high leverage).
Financial Trends
Over 9 years of filings (2011–2019), Maine Way Inc's revenue has declined at a compound annual growth rate (CAGR) of -4.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2019 | -18.5% | -17.3% | +10.5% |
| 2018 | +9.9% | -13.7% | +15.0% |
| 2017 | -6.3% | +28.0% | +5.9% |
| 2016 | +18.6% | -46.6% | +41.1% |
| 2015 | -26.4% | +19.5% | -47.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1999 |
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 Way Inc with a Mission Score of 55 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: 15%
- programs: 75%
- fundraising: 10%
According to IRS 990 filings, Maine Way Inc allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2019)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $5K, with revenue exceeding expenses.
- Debt-to-asset ratio: 57.6%.
Executive Compensation Analysis
No officer compensation has been reported across all nine available filings, suggesting that the organization is either entirely volunteer-run at the executive level or that executive compensation is categorized under other expense lines, which would reduce 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 Way Inc's IRS 990 filings:
- Latest filing reports $0 revenue and $0 assets, indicating potential cessation of operations or significant financial distress.
- Consistently high liabilities relative to assets (e.g., $79,451 liabilities vs. $137,998 assets in 2019), suggesting potential financial vulnerability.
- Lack of detailed expense breakdown (program, admin, fundraising) in the provided summary data, hindering full spending efficiency assessment.
Strengths
The following positive indicators were identified for Maine Way Inc:
- No reported officer compensation across all nine filings, suggesting a potentially volunteer-led executive team or efficient use of funds.
- History of consistent operation for at least nine years prior to the latest filing, demonstrating longevity.
- Generally operated near break-even or with small surpluses in several years (e.g., 2019, 2018, 2016, 2012) before the latest report.
Frequently Asked Questions about Maine Way Inc
Is Maine Way Inc a legitimate charity?
Maine Way Inc (EIN: 10384908) is a registered tax-exempt nonprofit based in Maine. Our AI analysis gives it a Mission Score of 55/100. It has 9 years of IRS 990 filings on record. 3 red flags identified. 3 strengths noted. Financial health grade: A.
How does Maine Way Inc spend its money?
Maine Way Inc directs 75% of its spending to programs and services. Fundraising costs 10%. This exceeds the 65% industry benchmark.
Are donations to Maine Way Inc tax-deductible?
Maine Way Inc is registered as a tax-exempt nonprofit (EIN: 10384908). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Maine Way Inc's spending goes to programs?
Maine Way Inc directs 75% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Maine Way Inc compare to similar nonprofits?
With a transparency score of 55/100 (Fair), Maine Way Inc is near average for NTEE category L41 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Maine Way Inc located?
Maine Way Inc is headquartered in Biddeford, Maine and files with the IRS under EIN 10384908. It is classified under NTEE code L41.
How many years of IRS 990 filings does Maine Way Inc have?
Maine Way Inc 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.
What caused the sudden drop to $0 revenue and assets in the latest filing?
The provided data does not specify the reason for the $0 revenue and assets in the latest period. This could indicate a cessation of operations, a significant reporting error, or a change in the organization's filing requirements or status.
Is Maine Way Inc. still operational?
The latest filing showing $0 revenue and assets strongly suggests the organization may no longer be actively operating or has undergone a significant change. Further investigation into their current status would be necessary.
How does Maine Way Inc. manage its liabilities, which are consistently high relative to assets?
Over the years, liabilities have often represented a significant portion of assets (e.g., $79,451 liabilities vs. $137,998 assets in 2019). This indicates a reliance on debt or restricted funds, which could pose financial risk if not managed effectively, especially with the recent $0 asset report.
What are the specific program activities funded by Maine Way Inc.?
The provided IRS 990 summary data does not detail the specific program activities. To understand this, one would need to review the full 990 forms or the organization's public mission statement.
What is the NTEE code L41, and how does it relate to the organization's mission?
NTEE code L41 typically refers to 'Housing Development, Construction & Management' organizations. This suggests Maine Way Inc. is involved in housing-related activities, which aligns with the need for further detail on their specific programs.
Filing History
IRS 990 filing history for Maine Way Inc showing financial trends over 9 years of public records:
Over 9 years of IRS 990 filings (2011–2019), Maine Way Inc's revenue has declined by 28.3%, moving from $70K to $50K. Total assets increased by 6.1% over the same period, from $130K to $138K. Total functional expenses fell by 45.2%, from $81K to $45K. In its most recent filing year (2019), Maine Way Inc reported a surplus of $5K, with revenue exceeding expenses. The organization holds $79K in liabilities against $138K in assets (debt-to-asset ratio: 57.6%), resulting in net assets of $59K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2019 | $50K | $45K | $138K | $79K | — | View 990 |
| 2018 | $61K | $54K | $125K | $83K | — | View 990 |
| 2017 | $56K | $62K | $109K | $86K | — | View 990 |
| 2016 | $60K | $49K | $103K | $91K | — | View 990 |
| 2015 | $50K | $91K | $73K | $95K | — | View 990 |
| 2014 | $68K | $76K | $139K | $97K | — | View 990 |
| 2013 | $65K | $66K | $141K | $100K | — | View 990 |
| 2012 | $79K | $64K | $154K | $103K | — | View 990 |
| 2011 | $70K | $81K | $130K | $108K | — | View 990 |
Year-by-Year Financial Summary
- 2019: Revenue of $50K, expenses of $45K, and assets of $138K (revenue -18.5% year-over-year).
- 2018: Revenue of $61K, expenses of $54K, and assets of $125K (revenue +9.9% year-over-year).
- 2017: Revenue of $56K, expenses of $62K, and assets of $109K (revenue -6.3% year-over-year).
- 2016: Revenue of $60K, expenses of $49K, and assets of $103K (revenue +18.6% year-over-year).
- 2015: Revenue of $50K, expenses of $91K, and assets of $73K (revenue -26.4% year-over-year).
- 2014: Revenue of $68K, expenses of $76K, and assets of $139K (revenue +4.4% year-over-year).
- 2013: Revenue of $65K, expenses of $66K, and assets of $141K (revenue -17.1% year-over-year).
- 2012: Revenue of $79K, expenses of $64K, and assets of $154K (revenue +13.1% year-over-year).
- 2011: Revenue of $70K, expenses of $81K, and assets of $130K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Maine Way Inc:
Data Sources and Methodology
This transparency report for Maine Way Inc 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.