Sail Maine Inc
Sail Maine Inc faces recent deficits and increased liabilities despite strong asset base and no reported officer compensation.
EIN: 10505456 · Portland, ME · NTEE: A20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.2M |
| Total Expenses | $1.1M |
| Program Spending | 75% |
| CEO/Top Officer Pay | $1 |
| Net Assets | $1.2M |
| Transparency Score | 78/100 |
Is Sail Maine Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Sail Maine Inc directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Sail Maine Inc
Sail Maine Inc (EIN: 10505456) is a nonprofit organization based in Portland, ME, classified under NTEE code A20. The organization reported total revenue of $1.2M and total assets of $1.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Sail Maine Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Sail Maine Inc is a mid-size nonprofit that has been operating for 30 years, with 14 years of IRS 990 filings on record (2010–2023). Revenue has grown at a compound annual rate of 8.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $908K |
| Total Expenses | $1.1M |
| Surplus / Deficit | $-235,654 |
| Total Assets | $1.3M |
| Total Liabilities | $3K |
| Net Assets | $1.2M |
| Operating Margin | -26.0% |
| Debt-to-Asset Ratio | 0.2% |
| Months of Reserves | 13.1 months |
Financial Health Grade: B
In 2023, Sail Maine Inc reported a deficit of $236K with expenses exceeding revenue, holds 13.1 months of operating reserves (strong position), has a debt-to-asset ratio of 0.2% (very low leverage).
Financial Trends
Over 14 years of filings (2010–2023), Sail Maine Inc's revenue has grown at a compound annual growth rate (CAGR) of 8.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -16.4% | +0.0% | -15.7% |
| 2022 | -17.9% | +6.6% | -3.7% |
| 2021 | -2.3% | +33.3% | +12.5% |
| 2020 | +83.1% | +13.2% | +84.8% |
| 2019 | -11.9% | +8.4% | +4.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 1996 |
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 Sail Maine Inc with a Mission Score of 78 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: 15%
- programs: 75%
- fundraising: 10%
According to IRS 990 filings, Sail Maine Inc 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 (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $236K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.2%.
Executive Compensation Analysis
Sail Maine Inc consistently reports 0% officer compensation across all 14 available IRS 990 filings, indicating that executive leadership is either unpaid or compensated in a manner not classified as officer compensation, which is highly favorable for an organization of its size with over $1 million in annual revenue and assets.
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 Sail Maine Inc's IRS 990 filings:
- Expenses exceeded revenue in both 2022 and 2023, indicating recent operating deficits.
- Significant increase in liabilities in 2023 to $2,808 from $44 in 2022, warranting further investigation.
Strengths
The following positive indicators were identified for Sail Maine Inc:
- Strong and growing asset base, reaching $1,251,082 in 2023, providing financial stability.
- Consistent reporting of 0% officer compensation across all filings, indicating high efficiency or volunteer leadership.
- Long history of IRS 990 filings (14 filings), demonstrating consistent transparency.
- Clear program focus as indicated by NTEE Code A20 (Sailing).
Frequently Asked Questions about Sail Maine Inc
Is Sail Maine Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Sail Maine Inc (EIN: 10505456) some concerns. Mission Score: 78/100. 2 red flags identified, 4 strengths noted.
How does Sail Maine Inc spend its money?
Sail Maine Inc directs 75% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Sail Maine Inc tax-deductible?
Sail Maine Inc is registered as a tax-exempt nonprofit (EIN: 10505456). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Sail Maine Inc CEO make?
Sail Maine Inc's highest-compensated officer earns $1 annually. The organization reported $1.2M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Sail Maine Inc's spending goes to programs?
Sail Maine Inc directs 75% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Sail Maine Inc compare to similar nonprofits?
With a transparency score of 78/100 (Good), Sail Maine Inc is above average for NTEE category A20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Sail Maine Inc located?
Sail Maine Inc is headquartered in Portland, Maine and files with the IRS under EIN 10505456. It is classified under NTEE code A20.
How many years of IRS 990 filings does Sail Maine Inc have?
Sail Maine Inc 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 $1.2M in total revenue.
Is Sail Maine Inc experiencing financial difficulties due to recent deficits?
While Sail Maine Inc has reported expenses exceeding revenue in 2022 and 2023, leading to deficits, its substantial asset base of $1,251,082 in 2023 provides a buffer. The organization is not in immediate severe financial distress, but sustained deficits could impact long-term sustainability.
What caused the significant increase in liabilities in 2023?
The provided data shows liabilities increased from $44 in 2022 to $2,808 in 2023. Without access to the full IRS 990 form, the specific nature or cause of this increase cannot be determined from the summary data alone.
How does Sail Maine Inc fund its operations without officer compensation?
The consistent reporting of 0% officer compensation suggests that key leadership roles may be filled by volunteers, or compensation is structured in a way that is not categorized as 'officer compensation' on the 990 form. This is a positive indicator of efficient resource allocation.
Filing History
IRS 990 filing history for Sail Maine Inc showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2010–2023), Sail Maine Inc's revenue has grown by 176.6%, moving from $328K to $908K. Total assets increased by 1636.5% over the same period, from $72K to $1.3M. Total functional expenses rose by 254.3%, from $323K to $1.1M. In its most recent filing year (2023), Sail Maine Inc reported a deficit of $236K, with expenses exceeding revenue. The organization holds $3K in liabilities against $1.3M in assets (debt-to-asset ratio: 0.2%), resulting in net assets of $1.2M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $908K | $1.1M | $1.3M | $3K | — | — |
| 2022 | $1.1M | $1.1M | $1.5M | $44 | — | View 990 |
| 2021 | $1.3M | $1.1M | $1.5M | $24 | — | View 990 |
| 2020 | $1.4M | $804K | $1.4M | $80K | — | View 990 |
| 2019 | $739K | $711K | $741K | $13 | — | View 990 |
| 2018 | $839K | $656K | $713K | $16 | — | View 990 |
| 2017 | $693K | $509K | $529K | $0 | — | View 990 |
| 2016 | $449K | $452K | $330K | $0 | — | View 990 |
| 2015 | $536K | $515K | $360K | $9K | — | View 990 |
| 2014 | $549K | $602K | $339K | $9K | — | View 990 |
| 2013 | $801K | $628K | $390K | $12K | — | View 990 |
| 2012 | $587K | $499K | $274K | $69K | — | View 990 |
| 2011 | $478K | $431K | $137K | $20K | — | View 990 |
| 2010 | $328K | $323K | $72K | $2K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $908K, expenses of $1.1M, and assets of $1.3M (revenue -16.4% year-over-year).
- 2022: Revenue of $1.1M, expenses of $1.1M, and assets of $1.5M (revenue -17.9% year-over-year).
- 2021: Revenue of $1.3M, expenses of $1.1M, and assets of $1.5M (revenue -2.3% year-over-year).
- 2020: Revenue of $1.4M, expenses of $804K, and assets of $1.4M (revenue +83.1% year-over-year).
- 2019: Revenue of $739K, expenses of $711K, and assets of $741K (revenue -11.9% year-over-year).
- 2018: Revenue of $839K, expenses of $656K, and assets of $713K (revenue +21.1% year-over-year).
- 2017: Revenue of $693K, expenses of $509K, and assets of $529K (revenue +54.2% year-over-year).
- 2016: Revenue of $449K, expenses of $452K, and assets of $330K (revenue -16.1% year-over-year).
- 2015: Revenue of $536K, expenses of $515K, and assets of $360K (revenue -2.4% year-over-year).
- 2014: Revenue of $549K, expenses of $602K, and assets of $339K (revenue -31.4% year-over-year).
- 2013: Revenue of $801K, expenses of $628K, and assets of $390K (revenue +36.4% year-over-year).
- 2012: Revenue of $587K, expenses of $499K, and assets of $274K (revenue +22.9% year-over-year).
- 2011: Revenue of $478K, expenses of $431K, and assets of $137K (revenue +45.5% year-over-year).
- 2010: Revenue of $328K, expenses of $323K, and assets of $72K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Sail Maine Inc:
Data Sources and Methodology
This transparency report for Sail Maine 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.