Millinocket Regional Hospital
Millinocket Regional Hospital consistently operates near break-even with stable assets and no reported officer compensation.
EIN: 10223482 · Millinocket, ME · NTEE: E220 · Updated: 2026-03-28
About Millinocket Regional Hospital
Millinocket Regional Hospital (EIN: 10223482) is a nonprofit organization based in Millinocket, ME, classified under NTEE code E220. The organization reported total revenue of $34.7M and total assets of $16.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Millinocket Regional Hospital's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Millinocket Regional Hospital 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: 8%
- programs: 90%
- fundraising: 2%
According to IRS 990 filings, Millinocket Regional Hospital allocates its expenses as follows: admin: 8%, programs: 90%, fundraising: 2%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Executive Compensation Analysis
The IRS 990 filings consistently report 0% officer compensation, which is highly unusual for an organization with annual revenues exceeding $30 million. This could indicate that compensation is reported elsewhere, or a unique, non-salaried executive structure, but it lacks transparency regarding leadership remuneration.
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 Millinocket Regional Hospital's IRS 990 filings:
- Consistent 0% officer compensation reported, which is highly unusual for an organization of this scale and may indicate a lack of transparency in executive remuneration reporting.
- Fluctuating asset base without clear growth trend, from $24.7M in 2014 to $16.2M currently.
Strengths
The following positive indicators were identified for Millinocket Regional Hospital:
- Consistent operational activity and service delivery over a long period (13 filings).
- Generally stable revenue streams, consistently above $30 million in recent years.
- Recent reduction in liabilities from $9,351,964 in 2022 to $6,323,121 in 2023, improving financial leverage.
Frequently Asked Questions about Millinocket Regional Hospital
How does Millinocket Regional Hospital manage to report 0% officer compensation across all filings?
The consistent reporting of 0% officer compensation is highly unusual for an organization of this size and revenue. It suggests either a unique compensation structure where executives are not compensated directly as officers, or that compensation is reported under different categories not captured by this specific 'Officer Comp' metric, potentially impacting transparency regarding leadership remuneration.
What is the hospital's long-term strategy for asset growth and liability management?
The hospital's assets have fluctuated, from a high of $24,726,055 in 2014 to $16,270,735 currently, while liabilities have also varied. For example, liabilities were $16,075,359 in 2020 and $6,323,121 in 2023. A detailed strategy for managing these fluctuations is not evident solely from the provided financial summaries, but the recent reduction in liabilities is a positive sign.
Given the tight operating margins, how does the hospital ensure financial resilience?
With revenues and expenses often very close (e.g., $31,753,748 revenue vs. $31,725,853 expenses in 2023), the hospital operates on thin margins. Resilience likely comes from careful cost control, consistent patient volume, and potentially other revenue streams or grants not detailed in these summary figures.
Filing History
IRS 990 filing history for Millinocket Regional Hospital showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Millinocket Regional Hospital's revenue has grown by 12.6%, moving from $28.2M to $31.8M. Total assets decreased by 28.5% over the same period, from $21.8M to $15.6M. Total functional expenses rose by 15.3%, from $27.5M to $31.7M. In its most recent filing year (2023), Millinocket Regional Hospital reported a surplus of $28K, with revenue exceeding expenses. The organization holds $6.3M in liabilities against $15.6M in assets (debt-to-asset ratio: 40.6%), resulting in net assets of $9.3M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $31.8M | $31.7M | $15.6M | $6.3M | — | View 990 |
| 2022 | $32.4M | $31.7M | $18.5M | $9.4M | — | View 990 |
| 2021 | $34.2M | $30.4M | $17.7M | $8.9M | — | — |
| 2020 | $30.9M | $30.8M | $20.8M | $16.1M | — | View 990 |
| 2019 | $32.3M | $33.7M | $15.1M | $10.4M | — | View 990 |
| 2018 | $32.0M | $36.6M | $18.1M | $11.6M | — | View 990 |
| 2017 | $31.5M | $32.9M | $20.7M | $9.2M | — | View 990 |
| 2016 | $28.0M | $28.5M | $23.7M | $10.4M | — | View 990 |
| 2015 | $26.0M | $26.2M | $24.1M | $9.8M | — | View 990 |
| 2014 | $26.0M | $27.3M | $24.7M | $10.2M | — | View 990 |
| 2013 | $28.0M | $27.6M | $23.6M | $8.5M | — | View 990 |
| 2012 | $27.6M | $27.7M | $23.4M | $8.9M | — | View 990 |
| 2011 | $28.2M | $27.5M | $21.8M | $7.2M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $31.8M, expenses of $31.7M, and assets of $15.6M (revenue -2.1% year-over-year).
- 2022: Revenue of $32.4M, expenses of $31.7M, and assets of $18.5M (revenue -5.1% year-over-year).
- 2021: Revenue of $34.2M, expenses of $30.4M, and assets of $17.7M (revenue +10.6% year-over-year).
- 2020: Revenue of $30.9M, expenses of $30.8M, and assets of $20.8M (revenue -4.4% year-over-year).
- 2019: Revenue of $32.3M, expenses of $33.7M, and assets of $15.1M (revenue +0.9% year-over-year).
- 2018: Revenue of $32.0M, expenses of $36.6M, and assets of $18.1M (revenue +1.7% year-over-year).
- 2017: Revenue of $31.5M, expenses of $32.9M, and assets of $20.7M (revenue +12.4% year-over-year).
- 2016: Revenue of $28.0M, expenses of $28.5M, and assets of $23.7M (revenue +7.8% year-over-year).
- 2015: Revenue of $26.0M, expenses of $26.2M, and assets of $24.1M (revenue -0.1% year-over-year).
- 2014: Revenue of $26.0M, expenses of $27.3M, and assets of $24.7M (revenue -6.9% year-over-year).
- 2013: Revenue of $28.0M, expenses of $27.6M, and assets of $23.6M (revenue +1.4% year-over-year).
- 2012: Revenue of $27.6M, expenses of $27.7M, and assets of $23.4M (revenue -2.2% year-over-year).
- 2011: Revenue of $28.2M, expenses of $27.5M, and assets of $21.8M.
Data Sources and Methodology
This transparency report for Millinocket Regional Hospital 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.