Maynard Road Corporation
Maynard Road Corporation faces significant financial instability with liabilities exceeding assets in the latest filing.
EIN: 205952774 · Meriden, CT · NTEE: L20 · Updated: 2026-03-28
Is Maynard Road Corporation Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Maynard Road Corporation directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Maynard Road Corporation
Maynard Road Corporation (EIN: 205952774) is a nonprofit organization based in Meriden, CT, classified under NTEE code L20. The organization reported total revenue of $796K and total assets of $10.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Maynard Road Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Maynard Road Corporation is a small nonprofit that has been operating for 17 years, with 14 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 1.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $796K |
| Total Expenses | $2.7M |
| Surplus / Deficit | $-1,924,092 |
| Total Assets | $10.2M |
| Total Liabilities | $17.7M |
| Net Assets | $-7,488,199 |
| Operating Margin | -241.6% |
| Debt-to-Asset Ratio | 173.4% |
| Months of Reserves | 45.0 months |
Financial Health Grade: C
In 2023, Maynard Road Corporation reported a deficit of $1.9M with expenses exceeding revenue, holds 45.0 months of operating reserves (strong position), has a debt-to-asset ratio of 173.4% (high leverage).
Financial Trends
Over 14 years of filings (2011–2023), Maynard Road Corporation's revenue has grown at a compound annual growth rate (CAGR) of 1.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -83.3% | +162.1% | -2.4% |
| 2022 | +1595.8% | +121.1% | +54.0% |
| 2021 | -69.0% | -61.6% | -2.2% |
| 2021 | -27.9% | +8.6% | -6.8% |
| 2020 | +19.4% | +23.1% | +3.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2009 |
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 Maynard Road Corporation with a Mission Score of 45 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: 20%
- programs: 70%
- fundraising: 10%
According to IRS 990 filings, Maynard Road Corporation 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 deficit of $1.9M, with expenses exceeding revenue.
- Debt-to-asset ratio: 173.4%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers received compensation, which is a positive for resource allocation relative to the organization's size and revenue.
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 Maynard Road Corporation's IRS 990 filings:
- Significant operating deficit in the latest period ($796,255 revenue vs. $2,720,347 expenses in 2023).
- Liabilities ($17,687,916) significantly exceed assets ($10,199,717) in the latest filing, indicating potential solvency issues.
- Extreme volatility in revenue and expenses year-over-year, making financial planning and stability uncertain.
- Massive increase in liabilities from $1,522,220 in 2022 to $17,687,916 in 2023 without clear explanation in the provided data.
Strengths
The following positive indicators were identified for Maynard Road Corporation:
- Consistent reporting of 0% officer compensation, indicating resources are not being used for executive salaries.
- Historically maintained significant asset levels, though recent liabilities overshadow them.
Frequently Asked Questions about Maynard Road Corporation
Is Maynard Road Corporation a legitimate charity?
Based on AI analysis of IRS 990 filings, Maynard Road Corporation (EIN: 205952774) significant concerns. Mission Score: 45/100. 4 red flags identified, 2 strengths noted.
How does Maynard Road Corporation spend its money?
Maynard Road Corporation directs 70% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Maynard Road Corporation tax-deductible?
Maynard Road Corporation is registered as a tax-exempt nonprofit (EIN: 205952774). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What caused the massive increase in liabilities from $1.5M in 2022 to $17.7M in 2023?
The provided data does not specify the nature of these liabilities, but such a dramatic increase warrants immediate investigation into debt, loans, or other financial obligations.
How does Maynard Road Corporation plan to address the significant operating deficit of nearly $2M in 2023?
With expenses of $2,720,347 far exceeding revenue of $796,255 in 2023, the organization faces a substantial funding gap that needs to be explained and addressed.
What are the primary sources of revenue given the extreme year-over-year fluctuations?
Revenue has swung from $4.7M (2022) to $0.79M (2023), and $0.28M (2021) to $0.9M (2021), suggesting inconsistent or project-based funding that impacts financial predictability.
Is the organization at risk of insolvency given that liabilities ($17.7M) significantly exceed assets ($10.2M) in the latest period?
The current financial position in 2023, where liabilities are substantially higher than assets, indicates a potential solvency risk that requires careful monitoring and explanation.
Filing History
IRS 990 filing history for Maynard Road Corporation showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2011–2023), Maynard Road Corporation's revenue has grown by 20.3%, moving from $662K to $796K. Total assets increased by 626.7% over the same period, from $1.4M to $10.2M. Total functional expenses rose by 333.1%, from $628K to $2.7M. In its most recent filing year (2023), Maynard Road Corporation reported a deficit of $1.9M, with expenses exceeding revenue. The organization holds $17.7M in liabilities against $10.2M in assets (debt-to-asset ratio: 173.4%), resulting in net assets of $-7,488,199.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $796K | $2.7M | $10.2M | $17.7M | — | — |
| 2022 | $4.8M | $1.0M | $10.5M | $1.5M | — | View 990 |
| 2021 | $280K | $469K | $6.8M | $4.6M | — | View 990 |
| 2021 | $905K | $1.2M | $6.9M | $4.6M | — | View 990 |
| 2020 | $1.3M | $1.1M | $7.4M | $4.8M | — | View 990 |
| 2019 | $1.1M | $915K | $7.2M | $3.3M | — | View 990 |
| 2018 | $3.0M | $622K | $7.2M | $3.3M | — | View 990 |
| 2017 | $1.1M | $494K | $4.9M | $3.6M | — | View 990 |
| 2016 | $842K | $547K | $1.4M | $701K | — | View 990 |
| 2015 | $656K | $563K | $1.2M | $766K | — | View 990 |
| 2014 | $463K | $399K | $977K | $627K | — | View 990 |
| 2013 | $438K | $214K | $1.3M | $1.0M | — | View 990 |
| 2012 | $498K | $146K | $1.2M | $1.1M | — | View 990 |
| 2011 | $662K | $628K | $1.4M | $1.6M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $796K, expenses of $2.7M, and assets of $10.2M (revenue -83.3% year-over-year).
- 2022: Revenue of $4.8M, expenses of $1.0M, and assets of $10.5M (revenue +1595.8% year-over-year).
- 2021: Revenue of $280K, expenses of $469K, and assets of $6.8M (revenue -69.0% year-over-year).
- 2021: Revenue of $905K, expenses of $1.2M, and assets of $6.9M (revenue -27.9% year-over-year).
- 2020: Revenue of $1.3M, expenses of $1.1M, and assets of $7.4M (revenue +19.4% year-over-year).
- 2019: Revenue of $1.1M, expenses of $915K, and assets of $7.2M (revenue -64.5% year-over-year).
- 2018: Revenue of $3.0M, expenses of $622K, and assets of $7.2M (revenue +176.2% year-over-year).
- 2017: Revenue of $1.1M, expenses of $494K, and assets of $4.9M (revenue +27.2% year-over-year).
- 2016: Revenue of $842K, expenses of $547K, and assets of $1.4M (revenue +28.2% year-over-year).
- 2015: Revenue of $656K, expenses of $563K, and assets of $1.2M (revenue +41.8% year-over-year).
- 2014: Revenue of $463K, expenses of $399K, and assets of $977K (revenue +5.6% year-over-year).
- 2013: Revenue of $438K, expenses of $214K, and assets of $1.3M (revenue -11.9% year-over-year).
- 2012: Revenue of $498K, expenses of $146K, and assets of $1.2M (revenue -24.8% year-over-year).
- 2011: Revenue of $662K, expenses of $628K, and assets of $1.4M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Maynard Road Corporation:
Data Sources and Methodology
This transparency report for Maynard Road Corporation 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.