Mid Coast Economic Development Council
Mid Coast Economic Development Council: Consistent Revenue, Lean Operations
EIN: 222982547 · Wiscasset, ME · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $190K |
| Total Expenses | $170K |
| Program Spending | 70% |
| CEO/Top Officer Pay | $0 |
| Net Assets | $52K |
| Transparency Score | 75/100 |
Is Mid Coast Economic Development Council Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Mid Coast Economic Development Council directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Mid Coast Economic Development Council
Mid Coast Economic Development Council (EIN: 222982547) is a nonprofit organization based in Wiscasset, ME. The organization reported total revenue of $190K and total assets of $72K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Mid Coast Economic Development Council's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Mid Coast Economic Development Council is a small nonprofit that has been operating for 37 years, with 11 years of IRS 990 filings on record (2012–2022). Revenue has grown at a compound annual rate of 6.7%.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
| Total Revenue | $167K |
| Total Expenses | $170K |
| Surplus / Deficit | $-2,765 |
| Total Assets | $107K |
| Total Liabilities | $55K |
| Net Assets | $52K |
| Operating Margin | -1.7% |
| Debt-to-Asset Ratio | 51.4% |
| Months of Reserves | 7.6 months |
Financial Health Grade: C
In 2022, Mid Coast Economic Development Council reported a deficit of $3K with expenses exceeding revenue, holds 7.6 months of operating reserves (strong position), has a debt-to-asset ratio of 51.4% (high leverage).
Financial Trends
Over 11 years of filings (2012–2022), Mid Coast Economic Development Council's revenue has grown at a compound annual growth rate (CAGR) of 6.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2022 | -14.6% | -11.6% | -6.9% |
| 2021 | +50.7% | +46.8% | +59.1% |
| 2020 | -14.2% | -15.7% | -19.5% |
| 2019 | -14.9% | +6.0% | +18.4% |
| 2018 | +19.9% | +23.8% | +122.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 3000 |
| IRS Ruling Date | 1989 |
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 Mid Coast Economic Development Council with a Mission Score of 75 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: 70%
- fundraising: 15%
According to IRS 990 filings, Mid Coast Economic Development Council allocates its expenses as follows: admin: 15%, programs: 70%, fundraising: 15%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $3K, with expenses exceeding revenue.
- Debt-to-asset ratio: 51.4%.
Executive Compensation Analysis
The organization consistently reports $0 in compensation for all officers, directors, trustees, and key employees, indicating a volunteer-led or externally funded leadership structure.
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 Mid Coast Economic Development Council's IRS 990 filings:
- Net assets have fluctuated, with a notable decrease from $115,344 in 2021 to $107,416 in 2022.
Strengths
The following positive indicators were identified for Mid Coast Economic Development Council:
- Consistent revenue generation over the past several years, averaging around $150,000 annually.
- Low administrative and fundraising costs due to reported $0 executive compensation.
- Positive net assets maintained over the long term, indicating financial stability.
Frequently Asked Questions about Mid Coast Economic Development Council
Is Mid Coast Economic Development Council a legitimate charity?
Based on AI analysis of IRS 990 filings, Mid Coast Economic Development Council (EIN: 222982547) some concerns. Mission Score: 75/100. 1 red flag identified, 3 strengths noted.
How does Mid Coast Economic Development Council spend its money?
Mid Coast Economic Development Council directs 70% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Mid Coast Economic Development Council tax-deductible?
Mid Coast Economic Development Council is registered as a tax-exempt nonprofit (EIN: 222982547). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Mid Coast Economic Development Council CEO make?
Mid Coast Economic Development Council's highest-compensated officer earns $0 annually. The organization reported $190K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Mid Coast Economic Development Council's spending goes to programs?
Mid Coast Economic Development Council directs 70% to programs, 15% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
Where is Mid Coast Economic Development Council located?
Mid Coast Economic Development Council is headquartered in Wiscasset, Maine and files with the IRS under EIN 222982547.
How many years of IRS 990 filings does Mid Coast Economic Development Council have?
Mid Coast Economic Development Council has 11 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 $190K in total revenue.
What does Mid Coast Economic Development Council do?
Mid Coast Economic Development Council is a nonprofit organization in the Unknown sector, located in Wiscasset, Maine. It is classified under NTEE code Unknown.
How much revenue does Mid Coast Economic Development Council have?
Mid Coast Economic Development Council reported total revenue of $190,111. Based on 11 IRS 990 filings on record.
What are Mid Coast Economic Development Council's total assets?
Mid Coast Economic Development Council holds total assets of $72,367 as reported in IRS 990 filings.
Where is Mid Coast Economic Development Council located?
Mid Coast Economic Development Council is based in Wiscasset, Maine.
What is Mid Coast Economic Development Council's EIN?
Mid Coast Economic Development Council's Employer Identification Number (EIN) is 222982547. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Mid Coast Economic Development Council?
Mid Coast Economic Development Council is classified under NTEE code Unknown (Unknown).
Is Mid Coast Economic Development Council a registered 501(c)(3)?
Mid Coast Economic Development Council appears in IRS records (EIN: 222982547). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does Mid Coast Economic Development Council file IRS Form 990?
Yes, Mid Coast Economic Development Council has 11 IRS Form 990 filings on record. The most recent covers tax period 202206.
What was Mid Coast Economic Development Council's revenue in 2022?
In the 202206 filing period, Mid Coast Economic Development Council reported total revenue of $167,248, total expenses of $170,013, and net assets of $107,416.
Is Mid Coast Economic Development Council's revenue growing or declining?
Mid Coast Economic Development Council's revenue is declining. Revenue went from $195,757 (202106) to $167,248 (202206), a -14.6% change. Based on 11 filings on record.
What is Mid Coast Economic Development Council's most recent 990 filing?
The most recent IRS Form 990 filing for Mid Coast Economic Development Council covers tax period 202206. It shows revenue of $167,248, expenses of $170,013, total assets of $107,416, and liabilities of $55,169.
How much does Mid Coast Economic Development Council spend on programs vs administration?
Based on IRS 990 analysis, Mid Coast Economic Development Council allocates approximately 70% of expenses to program services, 15% to administrative costs, and 15% to fundraising. Program spending is moderate relative to overhead.
Is Mid Coast Economic Development Council a trustworthy charity?
Based on AI analysis of IRS 990 data, Mid Coast Economic Development Council appears trustworthy. Mission Score: 75/100 (Good). 1 red flag identified. 3 strengths noted.
What are the red flags for Mid Coast Economic Development Council?
The following concerns were identified: Net assets have fluctuated, with a notable decrease from $115,344 in 2021 to $107,416 in 2022.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Mid Coast Economic Development Council's strengths?
Positive indicators for Mid Coast Economic Development Council include: Consistent revenue generation over the past several years, averaging around $150,000 annually.. Low administrative and fundraising costs due to reported $0 executive compensation.. Positive net assets maintained over the long term, indicating financial stability.. These findings are derived from AI analysis of the organization's financial filings.
How does Mid Coast Economic Development Council compensate executives?
The organization consistently reports $0 in compensation for all officers, directors, trustees, and key employees, indicating a volunteer-led or externally funded leadership structure. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
How transparent is Mid Coast Economic Development Council?
• Financial filings are consistently available through 2015. • The organization reports 0% compensation for its officers, directors, trustees, and key employees. • Detailed program service accomplishments are provided in Form 990, Part III. Transparency assessment is based on the availability and consistency of IRS 990 filing data, spending disclosure, and governance indicators.
How does the organization sustain its operations and leadership without reporting any compensation for its key personnel?
The filings consistently show $0 compensation for officers, directors, trustees, and key employees. This suggests that leadership roles are either entirely volunteer-based, or compensation is provided through an external entity not reported on the organization's 990 forms, which warrants further investigation.
What specific economic development programs are detailed in their filings, and how do they measure impact?
While the filings indicate program service accomplishments in Part III, the provided data does not include the specific narrative details of these programs or their impact metrics. A review of the full Form 990 would be necessary to understand the nature and effectiveness of their economic development initiatives.
Filing History
IRS 990 filing history for Mid Coast Economic Development Council showing financial trends over 11 years of public records:
Over 11 years of IRS 990 filings (2012–2022), Mid Coast Economic Development Council's revenue has grown by 90.6%, moving from $88K to $167K. Total assets increased by 201.5% over the same period, from $36K to $107K. Total functional expenses rose by 72.5%, from $99K to $170K. In its most recent filing year (2022), Mid Coast Economic Development Council reported a deficit of $3K, with expenses exceeding revenue. The organization holds $55K in liabilities against $107K in assets (debt-to-asset ratio: 51.4%), resulting in net assets of $52K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2022 | $167K | $170K | $107K | $55K | — | View 990 |
| 2021 | $196K | $192K | $115K | $60K | — | — |
| 2020 | $130K | $131K | $72K | $21K | — | View 990 |
| 2019 | $151K | $155K | $90K | $38K | — | View 990 |
| 2018 | $178K | $147K | $76K | $19K | — | View 990 |
| 2017 | $148K | $118K | $34K | $9K | — | View 990 |
| 2016 | $102K | $114K | $16K | $21K | — | View 990 |
| 2015 | $110K | $135K | $31K | $24K | — | View 990 |
| 2014 | $132K | $113K | $32K | $0 | — | View 990 |
| 2013 | $107K | $104K | $13K | $0 | — | View 990 |
| 2012 | $88K | $99K | $36K | $25K | — | View 990 |
Year-by-Year Financial Summary
- 2022: Revenue of $167K, expenses of $170K, and assets of $107K (revenue -14.6% year-over-year).
- 2021: Revenue of $196K, expenses of $192K, and assets of $115K (revenue +50.7% year-over-year).
- 2020: Revenue of $130K, expenses of $131K, and assets of $72K (revenue -14.2% year-over-year).
- 2019: Revenue of $151K, expenses of $155K, and assets of $90K (revenue -14.9% year-over-year).
- 2018: Revenue of $178K, expenses of $147K, and assets of $76K (revenue +19.9% year-over-year).
- 2017: Revenue of $148K, expenses of $118K, and assets of $34K (revenue +45.8% year-over-year).
- 2016: Revenue of $102K, expenses of $114K, and assets of $16K (revenue -7.8% year-over-year).
- 2015: Revenue of $110K, expenses of $135K, and assets of $31K (revenue -16.5% year-over-year).
- 2014: Revenue of $132K, expenses of $113K, and assets of $32K (revenue +23.9% year-over-year).
- 2013: Revenue of $107K, expenses of $104K, and assets of $13K (revenue +21.6% year-over-year).
- 2012: Revenue of $88K, expenses of $99K, and assets of $36K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Mid Coast Economic Development Council:
Data Sources and Methodology
This transparency report for Mid Coast Economic Development Council 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.