Portland Maine Symphony Orchestra
Portland Maine Symphony Orchestra shows consistent asset growth despite recent operating deficits.
EIN: 16006058 · Portland, ME · NTEE: A690 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $6.0M |
| Total Expenses | $4.5M |
| Program Spending | 75% |
| Net Assets | $15.8M |
| Transparency Score | 85/100 |
Is Portland Maine Symphony Orchestra Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Portland Maine Symphony Orchestra directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Portland Maine Symphony Orchestra
Portland Maine Symphony Orchestra (EIN: 16006058) is a nonprofit organization based in Portland, ME, classified under NTEE code A690. The organization reported total revenue of $6.0M and total assets of $16.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Portland Maine Symphony Orchestra's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Portland Maine Symphony Orchestra is a mid-size nonprofit that has been operating for 93 years, with 14 years of IRS 990 filings on record (2011–2024). Revenue has grown at a compound annual rate of 3.1%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $4.3M |
| Total Expenses | $4.5M |
| Surplus / Deficit | $-132,149 |
| Total Assets | $16.5M |
| Total Liabilities | $691K |
| Net Assets | $15.8M |
| Operating Margin | -3.1% |
| Debt-to-Asset Ratio | 4.2% |
| Months of Reserves | 44.3 months |
Financial Health Grade: B
In 2024, Portland Maine Symphony Orchestra reported a deficit of $132K with expenses exceeding revenue, holds 44.3 months of operating reserves (strong position), has a debt-to-asset ratio of 4.2% (very low leverage).
Financial Trends
Over 14 years of filings (2011–2024), Portland Maine Symphony Orchestra's revenue has grown at a compound annual growth rate (CAGR) of 3.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | +1.4% | +3.4% | +5.7% |
| 2023 | +16.8% | +4.2% | +5.7% |
| 2022 | -13.7% | +46.8% | -12.6% |
| 2021 | -6.8% | -17.4% | +24.7% |
| 2020 | -11.6% | -5.3% | +4.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1933 |
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 Portland Maine Symphony Orchestra 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: 15%
- programs: 75%
- fundraising: 10%
According to IRS 990 filings, Portland Maine Symphony Orchestra allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $132K, with expenses exceeding revenue.
- Debt-to-asset ratio: 4.2%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating either a volunteer leadership structure or that compensation is not categorized as officer compensation, which is a strong positive for donor trust and efficient use of funds relative to the organization's size and revenue.
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 Portland Maine Symphony Orchestra's IRS 990 filings:
- Expenses exceeded revenue in the last three reported periods (2022-2024), indicating potential reliance on reserves or other non-operating income to cover costs.
Strengths
The following positive indicators were identified for Portland Maine Symphony Orchestra:
- Consistent and significant asset growth over the past decade, from $6.9M in 2015 to $16.4M in 2024.
- Reported 0% officer compensation across all filings, indicating strong financial transparency and potentially volunteer leadership.
- Maintained financial stability and growth despite revenue fluctuations, demonstrating effective long-term financial management.
Frequently Asked Questions about Portland Maine Symphony Orchestra
Is Portland Maine Symphony Orchestra a legitimate charity?
Portland Maine Symphony Orchestra (EIN: 16006058) is a registered tax-exempt nonprofit based in Maine. Our AI analysis gives it a Mission Score of 85/100. It has 14 years of IRS 990 filings on record. Total revenue: $6.0M. 1 red flag identified. 3 strengths noted. Financial health grade: B.
How does Portland Maine Symphony Orchestra spend its money?
Portland Maine Symphony Orchestra directs 75% of its spending to programs and services. Fundraising costs 10%. This exceeds the 65% industry benchmark.
Are donations to Portland Maine Symphony Orchestra tax-deductible?
Portland Maine Symphony Orchestra is registered as a tax-exempt nonprofit (EIN: 16006058). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Portland Maine Symphony Orchestra's spending goes to programs?
Portland Maine Symphony Orchestra directs 75% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Portland Maine Symphony Orchestra compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Portland Maine Symphony Orchestra is above average for NTEE category A690 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Portland Maine Symphony Orchestra located?
Portland Maine Symphony Orchestra is headquartered in Portland, Maine and files with the IRS under EIN 16006058. It is classified under NTEE code A690.
How many years of IRS 990 filings does Portland Maine Symphony Orchestra have?
Portland Maine Symphony Orchestra has 14 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 $6.0M in total revenue.
Is Portland Maine Symphony Orchestra a good charity?
Based on its consistent asset growth, reported 0% officer compensation, and generally stable financial history, it appears to be a well-managed organization. However, a detailed breakdown of program spending versus administrative and fundraising costs would provide a more complete picture of its efficiency.
Why are expenses exceeding revenue in recent years?
In 2024, expenses ($4,464,312) exceeded revenue ($4,332,163), and similar trends were observed in 2023 and 2022. This could be due to strategic investments, increased program costs, or a temporary dip in donations, potentially covered by drawing from accumulated assets or endowments.
How does the organization manage its assets?
The organization has shown significant asset growth, from $6,936,639 in 2015 to $16,462,994 in 2024, suggesting effective investment and endowment management, which helps maintain financial stability even during periods of operational deficits.
Filing History
IRS 990 filing history for Portland Maine Symphony Orchestra showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2011–2024), Portland Maine Symphony Orchestra's revenue has grown by 48.3%, moving from $2.9M to $4.3M. Total assets increased by 258% over the same period, from $4.6M to $16.5M. Total functional expenses rose by 68%, from $2.7M to $4.5M. In its most recent filing year (2024), Portland Maine Symphony Orchestra reported a deficit of $132K, with expenses exceeding revenue. The organization holds $691K in liabilities against $16.5M in assets (debt-to-asset ratio: 4.2%), resulting in net assets of $15.8M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $4.3M | $4.5M | $16.5M | $691K | — | — |
| 2023 | $4.3M | $4.3M | $15.6M | $804K | — | View 990 |
| 2022 | $3.7M | $4.1M | $14.7M | $173K | — | View 990 |
| 2021 | $4.2M | $2.8M | $16.9M | $204K | — | — |
| 2020 | $4.5M | $3.4M | $13.5M | $82K | — | View 990 |
| 2019 | $5.1M | $3.6M | $13.0M | $910K | — | View 990 |
| 2018 | $5.0M | $3.8M | $11.6M | $892K | — | View 990 |
| 2017 | $5.8M | $3.5M | $10.5M | $891K | — | View 990 |
| 2016 | $4.1M | $3.4M | $7.8M | $822K | — | View 990 |
| 2015 | $3.5M | $3.5M | $6.9M | $806K | — | View 990 |
| 2014 | $3.4M | $3.2M | $6.7M | $578K | — | View 990 |
| 2013 | $3.9M | $2.9M | $6.4M | $781K | — | View 990 |
| 2012 | $3.2M | $2.7M | $5.0M | $816K | — | View 990 |
| 2011 | $2.9M | $2.7M | $4.6M | $863K | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $4.3M, expenses of $4.5M, and assets of $16.5M (revenue +1.4% year-over-year).
- 2023: Revenue of $4.3M, expenses of $4.3M, and assets of $15.6M (revenue +16.8% year-over-year).
- 2022: Revenue of $3.7M, expenses of $4.1M, and assets of $14.7M (revenue -13.7% year-over-year).
- 2021: Revenue of $4.2M, expenses of $2.8M, and assets of $16.9M (revenue -6.8% year-over-year).
- 2020: Revenue of $4.5M, expenses of $3.4M, and assets of $13.5M (revenue -11.6% year-over-year).
- 2019: Revenue of $5.1M, expenses of $3.6M, and assets of $13.0M (revenue +4.0% year-over-year).
- 2018: Revenue of $5.0M, expenses of $3.8M, and assets of $11.6M (revenue -13.9% year-over-year).
- 2017: Revenue of $5.8M, expenses of $3.5M, and assets of $10.5M (revenue +38.8% year-over-year).
- 2016: Revenue of $4.1M, expenses of $3.4M, and assets of $7.8M (revenue +18.8% year-over-year).
- 2015: Revenue of $3.5M, expenses of $3.5M, and assets of $6.9M (revenue +3.5% year-over-year).
- 2014: Revenue of $3.4M, expenses of $3.2M, and assets of $6.7M (revenue -13.0% year-over-year).
- 2013: Revenue of $3.9M, expenses of $2.9M, and assets of $6.4M (revenue +19.5% year-over-year).
- 2012: Revenue of $3.2M, expenses of $2.7M, and assets of $5.0M (revenue +10.9% year-over-year).
- 2011: Revenue of $2.9M, expenses of $2.7M, and assets of $4.6M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Portland Maine Symphony Orchestra:
Data Sources and Methodology
This transparency report for Portland Maine Symphony Orchestra 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.