Penobscot Bay Medical Center
Penobscot Bay Medical Center reports significant revenue decline and historical operating deficits.
EIN: 10285286 · Belfast, ME · NTEE: E22 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $35.6M |
| Total Expenses | $121.8M |
| Program Spending | 85% |
| CEO/Top Officer Pay | $100 |
| Net Assets | $41.0M |
| Transparency Score | 65/100 |
Is Penobscot Bay Medical Center Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Penobscot Bay Medical Center directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Penobscot Bay Medical Center
Penobscot Bay Medical Center (EIN: 10285286) is a nonprofit organization based in Belfast, ME, classified under NTEE code E22. The organization reported total revenue of $35.6M and total assets of $0 according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Penobscot Bay Medical Center's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Penobscot Bay Medical Center is a large nonprofit that has been operating for 56 years, with 8 years of IRS 990 filings on record (2011–2017). Revenue has grown at a compound annual rate of 1.3%.
Key Financial Metrics (2017)
From the most recent IRS 990 filing on record:
| Total Revenue | $116.6M |
| Total Expenses | $121.8M |
| Surplus / Deficit | $-5,156,380 |
| Total Assets | $121.3M |
| Total Liabilities | $80.4M |
| Net Assets | $41.0M |
| Operating Margin | -4.4% |
| Debt-to-Asset Ratio | 66.2% |
| Months of Reserves | 12.0 months |
Financial Health Grade: C
In 2017, Penobscot Bay Medical Center reported a deficit of $5.2M with expenses exceeding revenue, holds 12.0 months of operating reserves (strong position), has a debt-to-asset ratio of 66.2% (high leverage).
Financial Trends
Over 8 years of filings (2011–2017), Penobscot Bay Medical Center's revenue has grown at a compound annual growth rate (CAGR) of 1.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2017 | +10.1% | +6.5% | +0.3% |
| 2016 | -0.8% | +3.1% | -2.4% |
| 2015 | -4.7% | +0.3% | -4.7% |
| 2014 | +4.2% | +4.4% | +18.3% |
| 2013 | +0.9% | -3.7% | +0.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1970 |
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 Penobscot Bay Medical Center with a Mission Score of 65 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: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Penobscot Bay Medical Center 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 (2017)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $5.2M, with expenses exceeding revenue.
- Debt-to-asset ratio: 66.2%.
Executive Compensation Analysis
Officer compensation is consistently reported as 0% across all available filings, which is highly unusual for an organization with historical revenues exceeding $100 million, suggesting either a reporting anomaly or that executive compensation is not categorized under 'officer compensation' in these specific filings.
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 Penobscot Bay Medical Center's IRS 990 filings:
- Significant and unexplained drop in latest reported revenue to $35,642,137 from over $100 million in prior years.
- Recurring operating deficits where expenses exceeded revenue in multiple periods (e.g., 201709, 201609, 201509).
- Consistent reporting of 0% for officer compensation, which is highly unusual for an organization of this size and scope.
Strengths
The following positive indicators were identified for Penobscot Bay Medical Center:
- Maintained substantial asset base, with assets consistently over $100 million in most reported periods (e.g., $121,309,094 in 201709).
- Long history of IRS 990 filings (8 filings), indicating consistent reporting.
Frequently Asked Questions about Penobscot Bay Medical Center
Is Penobscot Bay Medical Center a legitimate charity?
Based on AI analysis of IRS 990 filings, Penobscot Bay Medical Center (EIN: 10285286) some concerns. Mission Score: 65/100. 3 red flags identified, 2 strengths noted.
How does Penobscot Bay Medical Center spend its money?
Penobscot Bay Medical Center directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Penobscot Bay Medical Center tax-deductible?
Penobscot Bay Medical Center is registered as a tax-exempt nonprofit (EIN: 10285286). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Penobscot Bay Medical Center CEO make?
Penobscot Bay Medical Center's highest-compensated officer earns $100 annually. The organization reported $35.6M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Penobscot Bay Medical Center's spending goes to programs?
Penobscot Bay Medical Center directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Penobscot Bay Medical Center compare to similar nonprofits?
With a transparency score of 65/100 (Good), Penobscot Bay Medical Center is above average for NTEE category E22 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Penobscot Bay Medical Center located?
Penobscot Bay Medical Center is headquartered in Belfast, Maine and files with the IRS under EIN 10285286. It is classified under NTEE code E22.
How many years of IRS 990 filings does Penobscot Bay Medical Center have?
Penobscot Bay Medical Center 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 $35.6M in total revenue.
What caused the drastic drop in reported revenue from over $100 million to $35,642,137 in the latest period?
The significant decrease in reported revenue from previous years (e.g., $116,598,095 in 201709) to the latest $35,642,137 requires clarification. This could be due to a change in organizational structure, a merger, or a substantial reduction in services, which is not immediately apparent from the provided data.
Why is officer compensation consistently reported as 0% across all filings?
The consistent reporting of 0% for officer compensation for an organization of this scale is highly unusual and warrants further investigation. It might indicate that executive salaries are reported under different categories (e.g., 'salaries and wages') or that the specific section for 'officer compensation' was not applicable or completed in these filings.
How does Penobscot Bay Medical Center plan to address its recurring operating deficits?
The organization has experienced several years where expenses exceeded revenue (e.g., $121,754,475 expenses vs. $116,598,095 revenue in 201709). A strategy for achieving financial sustainability and reversing these deficits would be crucial for long-term health.
Filing History
IRS 990 filing history for Penobscot Bay Medical Center showing financial trends over 8 years of public records:
Over 8 years of IRS 990 filings (2011–2017), Penobscot Bay Medical Center's revenue has grown by 7.8%, moving from $108.2M to $116.6M. Total assets increased by 21.8% over the same period, from $99.6M to $121.3M. Total functional expenses rose by 14.4%, from $106.4M to $121.8M. In its most recent filing year (2017), Penobscot Bay Medical Center reported a deficit of $5.2M, with expenses exceeding revenue. The organization holds $80.4M in liabilities against $121.3M in assets (debt-to-asset ratio: 66.2%), resulting in net assets of $41.0M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2017 | $116.6M | $121.8M | $121.3M | $80.4M | — | View 990 |
| 2016 | $105.9M | $114.3M | $120.9M | $76.4M | — | View 990 |
| 2015 | $106.7M | $110.9M | $123.9M | $69.1M | — | View 990 |
| 2014 | $112.0M | $110.6M | $130.0M | $70.1M | — | View 990 |
| 2013 | $107.5M | $105.9M | $110.0M | $54.9M | — | View 990 |
| 2012 | $106.5M | $109.9M | $109.5M | $55.6M | — | View 990 |
| 2011 | $55.7M | $54.1M | $101.0M | $45.1M | — | View 990 |
| 2011 | $108.2M | $106.4M | $99.6M | $44.0M | — | View 990 |
Year-by-Year Financial Summary
- 2017: Revenue of $116.6M, expenses of $121.8M, and assets of $121.3M (revenue +10.1% year-over-year).
- 2016: Revenue of $105.9M, expenses of $114.3M, and assets of $120.9M (revenue -0.8% year-over-year).
- 2015: Revenue of $106.7M, expenses of $110.9M, and assets of $123.9M (revenue -4.7% year-over-year).
- 2014: Revenue of $112.0M, expenses of $110.6M, and assets of $130.0M (revenue +4.2% year-over-year).
- 2013: Revenue of $107.5M, expenses of $105.9M, and assets of $110.0M (revenue +0.9% year-over-year).
- 2012: Revenue of $106.5M, expenses of $109.9M, and assets of $109.5M (revenue +91.0% year-over-year).
- 2011: Revenue of $55.7M, expenses of $54.1M, and assets of $101.0M (revenue -48.5% year-over-year).
- 2011: Revenue of $108.2M, expenses of $106.4M, and assets of $99.6M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Penobscot Bay Medical Center:
Data Sources and Methodology
This transparency report for Penobscot Bay Medical Center 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.