Maryland Goverment Finance Officers Association Inc
Maryland Government Finance Officers Association Inc. experiences fluctuating financial performance with expenses exceeding revenue in recent periods.
EIN: 203047808 · Westford, MA · NTEE: B03 · Updated: 2026-03-28
Is Maryland Goverment Finance Officers Association Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Maryland Goverment Finance Officers Association Inc directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Maryland Goverment Finance Officers Association Inc
Maryland Goverment Finance Officers Association Inc (EIN: 203047808) is a nonprofit organization based in Westford, MA, classified under NTEE code B03. The organization reported total revenue of $300K and total assets of $126K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Maryland Goverment Finance Officers Association Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Maryland Goverment Finance Officers Association Inc is a small nonprofit that has been operating for 21 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 4.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $286K |
| Total Expenses | $367K |
| Surplus / Deficit | $-80,905 |
| Total Assets | $200K |
| Total Liabilities | $97K |
| Net Assets | $103K |
| Operating Margin | -28.3% |
| Debt-to-Asset Ratio | 48.4% |
| Months of Reserves | 6.5 months |
Financial Health Grade: B
In 2023, Maryland Goverment Finance Officers Association Inc reported a deficit of $81K with expenses exceeding revenue, holds 6.5 months of operating reserves (strong position), has a debt-to-asset ratio of 48.4% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), Maryland Goverment Finance Officers Association Inc's revenue has grown at a compound annual growth rate (CAGR) of 4.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +10.3% | +37.4% | -24.5% |
| 2022 | +77.1% | +196.5% | +22.6% |
| 2021 | -15.8% | -49.0% | +22.9% |
| 2020 | -43.6% | -34.2% | -34.1% |
| 2019 | -2.2% | -7.0% | +40.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 2005 |
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 Maryland Goverment Finance Officers Association Inc with a Mission Score of 70 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: 15%
- programs: 75%
- fundraising: 10%
According to IRS 990 filings, Maryland Goverment Finance Officers Association 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 (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $81K, with expenses exceeding revenue.
- Debt-to-asset ratio: 48.4%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that the organization's officers are likely volunteers, which is a positive sign for minimizing overhead costs relative to 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.
Red Flags
The following concerns were identified during AI analysis of Maryland Goverment Finance Officers Association Inc's IRS 990 filings:
- Expenses exceeded revenue in the most recent filing (202306) by $80,905, indicating a deficit.
- Fluctuating financial performance with inconsistent surpluses and deficits over the years.
Strengths
The following positive indicators were identified for Maryland Goverment Finance Officers Association Inc:
- Consistent IRS 990 filing history, demonstrating transparency.
- 0% officer compensation reported across all filings, suggesting volunteer leadership and low administrative overhead.
- Maintains a positive net asset position despite periods of deficit spending.
Frequently Asked Questions about Maryland Goverment Finance Officers Association Inc
Is Maryland Goverment Finance Officers Association Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Maryland Goverment Finance Officers Association Inc (EIN: 203047808) some concerns. Mission Score: 70/100. 2 red flags identified, 3 strengths noted.
How does Maryland Goverment Finance Officers Association Inc spend its money?
Maryland Goverment Finance Officers Association Inc directs 75% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Maryland Goverment Finance Officers Association Inc tax-deductible?
Maryland Goverment Finance Officers Association Inc is registered as a tax-exempt nonprofit (EIN: 203047808). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Maryland Goverment Finance Officers Association Inc. financially stable?
The organization's financial stability shows variability. While it has periods of surplus, recent filings (202306, 202206) show expenses exceeding revenue, indicating a need for careful financial management to ensure long-term stability.
How does the organization manage its assets and liabilities?
Assets have fluctuated significantly, from $115,612 in 201506 to $266,391 in 201906, and currently stand at $199,891 (202306). Liabilities have also varied, reaching $96,745 in 202306. The organization generally maintains a healthy asset-to-liability ratio, though liabilities have increased in recent years.
What is the trend in the organization's revenue and expenses?
Revenue and expenses have fluctuated over the years. For example, revenue was $308,528 in 201906 but dropped to $146,533 in 202106 before recovering to $286,235 in 202306. Expenses have generally followed a similar pattern, often closely tracking revenue, sometimes exceeding it as seen in 202306 ($367,140 expenses vs. $286,235 revenue).
Filing History
IRS 990 filing history for Maryland Goverment Finance Officers Association Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Maryland Goverment Finance Officers Association Inc's revenue has grown by 60.7%, moving from $178K to $286K. Total assets increased by 20.3% over the same period, from $166K to $200K. Total functional expenses rose by 119.4%, from $167K to $367K. In its most recent filing year (2023), Maryland Goverment Finance Officers Association Inc reported a deficit of $81K, with expenses exceeding revenue. The organization holds $97K in liabilities against $200K in assets (debt-to-asset ratio: 48.4%), resulting in net assets of $103K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $286K | $367K | $200K | $97K | — | View 990 |
| 2022 | $259K | $267K | $265K | $68K | — | View 990 |
| 2021 | $147K | $90K | $216K | $11K | — | View 990 |
| 2020 | $174K | $177K | $176K | $16K | — | — |
| 2019 | $309K | $269K | $266K | $107K | — | View 990 |
| 2018 | $315K | $289K | $190K | $73K | — | View 990 |
| 2017 | $306K | $258K | $164K | $72K | — | View 990 |
| 2016 | $296K | $299K | $125K | $79K | — | View 990 |
| 2015 | $263K | $286K | $116K | $67K | — | View 990 |
| 2014 | $260K | $273K | $129K | $60K | — | View 990 |
| 2013 | $232K | $291K | $140K | $56K | — | View 990 |
| 2012 | $212K | $217K | $202K | $56K | — | View 990 |
| 2011 | $178K | $167K | $166K | $15K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $286K, expenses of $367K, and assets of $200K (revenue +10.3% year-over-year).
- 2022: Revenue of $259K, expenses of $267K, and assets of $265K (revenue +77.1% year-over-year).
- 2021: Revenue of $147K, expenses of $90K, and assets of $216K (revenue -15.8% year-over-year).
- 2020: Revenue of $174K, expenses of $177K, and assets of $176K (revenue -43.6% year-over-year).
- 2019: Revenue of $309K, expenses of $269K, and assets of $266K (revenue -2.2% year-over-year).
- 2018: Revenue of $315K, expenses of $289K, and assets of $190K (revenue +3.1% year-over-year).
- 2017: Revenue of $306K, expenses of $258K, and assets of $164K (revenue +3.2% year-over-year).
- 2016: Revenue of $296K, expenses of $299K, and assets of $125K (revenue +12.8% year-over-year).
- 2015: Revenue of $263K, expenses of $286K, and assets of $116K (revenue +0.9% year-over-year).
- 2014: Revenue of $260K, expenses of $273K, and assets of $129K (revenue +11.9% year-over-year).
- 2013: Revenue of $232K, expenses of $291K, and assets of $140K (revenue +9.7% year-over-year).
- 2012: Revenue of $212K, expenses of $217K, and assets of $202K (revenue +19.0% year-over-year).
- 2011: Revenue of $178K, expenses of $167K, and assets of $166K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Maryland Goverment Finance Officers Association Inc:
Data Sources and Methodology
This transparency report for Maryland Goverment Finance Officers Association 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.