Melmac Education Foundation
Melmac Education Foundation consistently spends more than it earns, relying on substantial asset reserves.
EIN: 10390854 · Augusta, ME · NTEE: W600 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $2.1M |
| Total Expenses | $2.8M |
| Program Spending | 85% |
| Net Assets | $44.6M |
| Transparency Score | 85/100 |
Is Melmac Education Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Melmac Education Foundation directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Melmac Education Foundation
Melmac Education Foundation (EIN: 10390854) is a nonprofit organization based in Augusta, ME, classified under NTEE code W600. The organization reported total revenue of $2.1M and total assets of $38.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Melmac Education Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Melmac Education Foundation is a mid-size nonprofit that has been operating for 43 years, with 10 years of IRS 990 filings on record (2011–2023).
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.3M |
| Total Expenses | $2.8M |
| Surplus / Deficit | $-477,843 |
| Total Assets | $45.0M |
| Total Liabilities | $411K |
| Net Assets | $44.6M |
| Operating Margin | -20.8% |
| Debt-to-Asset Ratio | 0.9% |
| Months of Reserves | 194.1 months |
Financial Health Grade: B
In 2023, Melmac Education Foundation reported a deficit of $478K with expenses exceeding revenue, holds 194.1 months of operating reserves (strong position), has a debt-to-asset ratio of 0.9% (very low leverage).
Financial Trends
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +0.4% | -7.3% | +9.0% |
| 2022 | -73.2% | +17.9% | -21.1% |
| 2021 | +245.1% | +1.5% | +6.4% |
| 2020 | -5.7% | -12.4% | +8.3% |
| 2019 | +17.3% | +29.3% | +11.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 1983 |
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 Melmac Education Foundation 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: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Melmac Education Foundation 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 deficit of $478K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.9%.
Executive Compensation Analysis
The Melmac Education Foundation consistently reports 0% officer compensation across all available filings, indicating that no salaries are paid to its officers, which is highly unusual for an organization of its size and asset base. This suggests a volunteer-led executive structure or that compensation is reported under other expense categories, though the former is more likely given the consistent reporting.
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 Melmac Education Foundation's IRS 990 filings:
- Consistent operating deficits in the last two fiscal years (2023 and 2022), where expenses exceeded revenue.
- Unusually high revenue in 2021 ($8,545,235) compared to other years, which could indicate reliance on one-time events or significant investment gains that are not consistently repeatable.
Strengths
The following positive indicators were identified for Melmac Education Foundation:
- Substantial and growing asset base, reaching $44,977,183 in 2023, providing financial stability.
- Consistent reporting of 0% officer compensation across all filings, indicating a strong commitment to mission-focused spending.
- Long history of IRS 990 filings (10 filings), demonstrating transparency and compliance.
Frequently Asked Questions about Melmac Education Foundation
Is Melmac Education Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Melmac Education Foundation (EIN: 10390854) some concerns. Mission Score: 85/100. 2 red flags identified, 3 strengths noted.
How does Melmac Education Foundation spend its money?
Melmac Education Foundation directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Melmac Education Foundation tax-deductible?
Melmac Education Foundation is registered as a tax-exempt nonprofit (EIN: 10390854). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Melmac Education Foundation's spending goes to programs?
Melmac Education Foundation directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Melmac Education Foundation compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Melmac Education Foundation is above average for NTEE category W600 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Melmac Education Foundation located?
Melmac Education Foundation is headquartered in Augusta, Maine and files with the IRS under EIN 10390854. It is classified under NTEE code W600.
How many years of IRS 990 filings does Melmac Education Foundation have?
Melmac Education Foundation has 10 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 $2.1M in total revenue.
Is Melmac Education Foundation a good charity?
Based on the available data, Melmac Education Foundation appears to be a good charity, particularly due to its strong asset base ($44,977,183 in 2023) and its reported 0% officer compensation, suggesting a high dedication to its mission. However, the consistent operating deficits in 2022 and 2023 (e.g., $2,780,001 expenses vs. $2,302,158 revenue in 2023) warrant further investigation into how these deficits are covered and if they are sustainable long-term.
How does Melmac Education Foundation fund its operations given recent deficits?
The foundation has experienced operating deficits in the last two fiscal periods (2023 and 2022). Given its substantial assets, it likely covers these deficits by drawing from its investment portfolio or accumulated reserves. The large revenue spike in 2021 ($8,545,235) could have also contributed to a surplus that is now being utilized.
What is the trend in Melmac Education Foundation's financial health?
While the foundation maintains a strong asset base, its financial health shows a trend of consistent operating deficits in the most recent two years (2022 and 2023), where expenses exceeded revenue. This contrasts with earlier periods like 2013 and 2014 where revenue significantly exceeded expenses, and the exceptional revenue year of 2021. This trend suggests a need to monitor its long-term sustainability if deficits continue.
Filing History
IRS 990 filing history for Melmac Education Foundation showing financial trends over 10 years of public records:
Total assets increased by 32.3% over the same period, from $34.0M to $45.0M. Total functional expenses rose by 87.5%, from $1.5M to $2.8M. In its most recent filing year (2023), Melmac Education Foundation reported a deficit of $478K, with expenses exceeding revenue. The organization holds $411K in liabilities against $45.0M in assets (debt-to-asset ratio: 0.9%), resulting in net assets of $44.6M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $2.3M | $2.8M | $45.0M | $411K | — | — |
| 2022 | $2.3M | $3.0M | $41.2M | $123K | — | View 990 |
| 2021 | $8.5M | $2.5M | $52.3M | $194K | — | View 990 |
| 2020 | $2.5M | $2.5M | $49.1M | $246K | — | — |
| 2019 | $2.6M | $2.9M | $45.3M | $177K | — | View 990 |
| 2015 | $2.2M | $2.2M | $40.7M | $247K | — | View 990 |
| 2014 | $1.9M | $1.7M | $43.1M | $184K | — | View 990 |
| 2013 | $2.3M | $1.7M | $41.7M | $136K | — | View 990 |
| 2012 | $4.4M | $1.3M | $36.8M | $249K | — | View 990 |
| 2011 | $-294,196 | $1.5M | $34.0M | $454K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.3M, expenses of $2.8M, and assets of $45.0M (revenue +0.4% year-over-year).
- 2022: Revenue of $2.3M, expenses of $3.0M, and assets of $41.2M (revenue -73.2% year-over-year).
- 2021: Revenue of $8.5M, expenses of $2.5M, and assets of $52.3M (revenue +245.1% year-over-year).
- 2020: Revenue of $2.5M, expenses of $2.5M, and assets of $49.1M (revenue -5.7% year-over-year).
- 2019: Revenue of $2.6M, expenses of $2.9M, and assets of $45.3M (revenue +17.3% year-over-year).
- 2015: Revenue of $2.2M, expenses of $2.2M, and assets of $40.7M (revenue +15.8% year-over-year).
- 2014: Revenue of $1.9M, expenses of $1.7M, and assets of $43.1M (revenue -16.4% year-over-year).
- 2013: Revenue of $2.3M, expenses of $1.7M, and assets of $41.7M (revenue -47.4% year-over-year).
- 2012: Revenue of $4.4M, expenses of $1.3M, and assets of $36.8M.
- 2011: Revenue of $-294,196, expenses of $1.5M, and assets of $34.0M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Melmac Education Foundation:
Data Sources and Methodology
This transparency report for Melmac Education Foundation 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.