My Place Teen Center Inc

Is My Place Teen Center Inc Legit?

Appears Legitimate

Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →

My Place Teen Center Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.

About My Place Teen Center Inc

My Place Teen Center Inc (EIN: 10509578) is a nonprofit organization based in Westbrook, ME, classified under NTEE code O20. The organization reported total revenue of $2.9M and total assets of $4.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of My Place Teen Center Inc'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 My Place Teen Center Inc with a Mission Score of 95 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, My Place Teen Center Inc 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.

Executive Compensation Analysis

Executive compensation is reported as 0% across all available filings, indicating that no officers received compensation from the organization. This is highly unusual for an organization with revenues exceeding $1 million and suggests a volunteer-led executive team or that compensation is covered by other means not reported as officer compensation, which enhances the perception of funds directly supporting the mission.

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.

Strengths

The following positive indicators were identified for My Place Teen Center Inc:

• Consistent and significant revenue growth over a decade (from $557,961 in 2014 to $1,660,944 in 2023).
• Zero reported officer compensation across all available filings, indicating high efficiency and mission focus.
• Healthy and growing asset base ($653,026 in 2014 to $2,589,667 in 2023) with low liabilities, demonstrating strong financial stability.
• Expenses consistently lower than revenue, allowing for asset accumulation and sustainable operations.
• Strong financial health and stability with a high asset-to-liability ratio.

Frequently Asked Questions about My Place Teen Center Inc

Filing History

IRS 990 filing history for My Place Teen Center Inc showing financial trends over 13 years of public records:

Over 13 years of IRS 990 filings (2011–2023), My Place Teen Center Inc's revenue has grown by 679.6%, moving from $213K to $1.7M. Total assets increased by 577.4% over the same period, from $382K to $2.6M. Total functional expenses rose by 535.9%, from $177K to $1.1M. In its most recent filing year (2023), My Place Teen Center Inc reported a surplus of $537K, with revenue exceeding expenses. The organization holds $71K in liabilities against $2.6M in assets (debt-to-asset ratio: 2.7%), resulting in net assets of $2.5M.

Year-by-Year Financial Summary

• 2023: Revenue of $1.7M, expenses of $1.1M, and assets of $2.6M (revenue +35.3% year-over-year).
• 2022: Revenue of $1.2M, expenses of $973K, and assets of $2.1M (revenue +8.8% year-over-year).
• 2021: Revenue of $1.1M, expenses of $832K, and assets of $1.8M (revenue +19.4% year-over-year).
• 2020: Revenue of $945K, expenses of $747K, and assets of $1.6M (revenue +5.6% year-over-year).
• 2019: Revenue of $895K, expenses of $764K, and assets of $1.3M (revenue +17.9% year-over-year).
• 2018: Revenue of $759K, expenses of $634K, and assets of $1.1M (revenue +0.9% year-over-year).
• 2017: Revenue of $753K, expenses of $583K, and assets of $957K (revenue +23.6% year-over-year).
• 2016: Revenue of $609K, expenses of $514K, and assets of $777K (revenue -19.5% year-over-year).
• 2015: Revenue of $756K, expenses of $476K, and assets of $722K (revenue +35.5% year-over-year).
• 2014: Revenue of $558K, expenses of $407K, and assets of $653K (revenue +72.1% year-over-year).
• 2013: Revenue of $324K, expenses of $328K, and assets of $460K (revenue +6.7% year-over-year).
• 2012: Revenue of $304K, expenses of $244K, and assets of $459K (revenue +42.7% year-over-year).
• 2011: Revenue of $213K, expenses of $177K, and assets of $382K.

Data Sources and Methodology

This transparency report for My Place Teen Center Inc 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.