Mimi Foundation
Mimi Foundation shows highly volatile revenue with zero executive compensation and significant asset growth.
EIN: 203957984 · Scarborough, ME · NTEE: T20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $4.0M |
| Total Expenses | $327K |
| Program Spending | 90% |
| CEO/Top Officer Pay | $8 |
| Net Assets | $7.9M |
| Transparency Score | 85/100 |
Is Mimi Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Mimi Foundation directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Mimi Foundation
Mimi Foundation (EIN: 203957984) is a nonprofit organization based in Scarborough, ME, classified under NTEE code T20. The organization reported total revenue of $4.0M and total assets of $6.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Mimi Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Mimi Foundation is a mid-size nonprofit that has been operating for 20 years, with 8 years of IRS 990 filings on record (2011–2021). Revenue has grown at a compound annual rate of 34.7%.
Key Financial Metrics (2021)
From the most recent IRS 990 filing on record:
| Total Revenue | $5.8M |
| Total Expenses | $327K |
| Surplus / Deficit | +$5.5M |
| Total Assets | $8.0M |
| Total Liabilities | $65K |
| Net Assets | $7.9M |
| Operating Margin | 94.4% |
| Debt-to-Asset Ratio | 0.8% |
| Months of Reserves | 292.1 months |
Financial Health Grade: A
In 2021, Mimi Foundation reported a surplus of $5.5M with revenue exceeding expenses, holds 292.1 months of operating reserves (strong position), has a debt-to-asset ratio of 0.8% (very low leverage).
Financial Trends
Over 8 years of filings (2011–2021), Mimi Foundation's revenue has grown at a compound annual growth rate (CAGR) of 34.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2021 | +2144.5% | +7.3% | +126.8% |
| 2020 | +290.4% | +95.3% | +6.3% |
| 2019 | -81.1% | -20.1% | +8.2% |
| 2015 | -33.4% | -33.2% | +9.6% |
| 2014 | +26.3% | +18.2% | +12.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2006 |
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 Mimi 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: 5%
- programs: 90%
- fundraising: 5%
According to IRS 990 filings, Mimi Foundation allocates its expenses as follows: admin: 5%, programs: 90%, fundraising: 5%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2021)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $5.5M, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.8%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that no officers receive salaries from the organization, which is highly commendable for an organization with assets reaching nearly $8 million.
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 Mimi Foundation's IRS 990 filings:
- Highly volatile revenue makes long-term financial planning and impact assessment challenging.
Strengths
The following positive indicators were identified for Mimi Foundation:
- Consistent zero officer compensation demonstrates strong commitment to mission and efficient use of funds.
- Significant asset growth over time, from $2,182,407 in 2011 to $7,950,138 in 2021, indicates sound financial management and stability.
- Extremely low expenses relative to revenue in 2021 suggests a high potential for program funding or reserve building.
Frequently Asked Questions about Mimi Foundation
Is Mimi Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Mimi Foundation (EIN: 203957984) some concerns. Mission Score: 85/100. 1 red flag identified, 3 strengths noted.
How does Mimi Foundation spend its money?
Mimi Foundation directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Mimi Foundation tax-deductible?
Mimi Foundation is registered as a tax-exempt nonprofit (EIN: 203957984). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Mimi Foundation CEO make?
Mimi Foundation's highest-compensated officer earns $8 annually. The organization reported $4.0M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Mimi Foundation's spending goes to programs?
Mimi Foundation directs 90% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Mimi Foundation compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Mimi Foundation is above average for NTEE category T20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Mimi Foundation located?
Mimi Foundation is headquartered in Scarborough, Maine and files with the IRS under EIN 203957984. It is classified under NTEE code T20.
How many years of IRS 990 filings does Mimi Foundation have?
Mimi Foundation has 8 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 $4.0M in total revenue.
What caused the significant revenue spike in 2021 to $5,823,349 and the subsequent drop to $3,999,119?
The IRS 990 filings alone do not provide the specific reasons for such dramatic fluctuations in revenue. This could be due to a large one-time donation, a specific grant, or a change in fundraising strategy. Further investigation into the organization's financial statements or annual reports would be necessary.
Given the low expenses relative to revenue in 2021 ($326,564 expenses vs. $5,823,349 revenue), how are the excess funds being utilized or reserved?
The large discrepancy suggests that a significant portion of the revenue might be held as unrestricted net assets, temporarily restricted funds, or permanently restricted endowments. This could indicate a strategy of building reserves for future projects or a delay in program implementation. The 990 would detail the balance sheet, but specific plans for these funds are not explicitly stated.
Filing History
IRS 990 filing history for Mimi Foundation showing financial trends over 8 years of public records:
Over 8 years of IRS 990 filings (2011–2021), Mimi Foundation's revenue has grown by 1862.6%, moving from $297K to $5.8M. Total assets increased by 264.3% over the same period, from $2.2M to $8.0M. Total functional expenses rose by 82.9%, from $179K to $327K. In its most recent filing year (2021), Mimi Foundation reported a surplus of $5.5M, with revenue exceeding expenses. The organization holds $65K in liabilities against $8.0M in assets (debt-to-asset ratio: 0.8%), resulting in net assets of $7.9M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2021 | $5.8M | $327K | $8.0M | $65K | — | View 990 |
| 2020 | $259K | $304K | $3.5M | $105K | — | View 990 |
| 2019 | $66K | $156K | $3.3M | $135K | — | View 990 |
| 2015 | $352K | $195K | $3.0M | $125K | — | View 990 |
| 2014 | $528K | $292K | $2.8M | $155K | — | View 990 |
| 2013 | $418K | $247K | $2.5M | $90K | — | View 990 |
| 2012 | $264K | $207K | $2.2M | $35K | — | View 990 |
| 2011 | $297K | $179K | $2.2M | $30K | — | View 990 |
Year-by-Year Financial Summary
- 2021: Revenue of $5.8M, expenses of $327K, and assets of $8.0M (revenue +2144.5% year-over-year).
- 2020: Revenue of $259K, expenses of $304K, and assets of $3.5M (revenue +290.4% year-over-year).
- 2019: Revenue of $66K, expenses of $156K, and assets of $3.3M (revenue -81.1% year-over-year).
- 2015: Revenue of $352K, expenses of $195K, and assets of $3.0M (revenue -33.4% year-over-year).
- 2014: Revenue of $528K, expenses of $292K, and assets of $2.8M (revenue +26.3% year-over-year).
- 2013: Revenue of $418K, expenses of $247K, and assets of $2.5M (revenue +58.5% year-over-year).
- 2012: Revenue of $264K, expenses of $207K, and assets of $2.2M (revenue -11.1% year-over-year).
- 2011: Revenue of $297K, expenses of $179K, and assets of $2.2M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Mimi Foundation:
Data Sources and Methodology
This transparency report for Mimi 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.