Southern Maine Finance Agency
Southern Maine Finance Agency maintains stable finances with consistent asset growth and no reported officer compensation.
EIN: 10472964 · Biddeford, ME · NTEE: S20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.4M |
| Total Expenses | $758K |
| Program Spending | 80% |
| CEO/Top Officer Pay | $7.5 |
| Net Assets | $5.1M |
| Transparency Score | 85/100 |
Is Southern Maine Finance Agency Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Southern Maine Finance Agency directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Southern Maine Finance Agency
Southern Maine Finance Agency (EIN: 10472964) is a nonprofit organization based in Biddeford, ME, classified under NTEE code S20. The organization reported total revenue of $1.4M and total assets of $7.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Southern Maine Finance Agency's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Southern Maine Finance Agency is a mid-size nonprofit that has been operating for 33 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 7.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $719K |
| Total Expenses | $758K |
| Surplus / Deficit | $-38,807 |
| Total Assets | $7.5M |
| Total Liabilities | $2.4M |
| Net Assets | $5.1M |
| Operating Margin | -5.4% |
| Debt-to-Asset Ratio | 32.6% |
| Months of Reserves | 118.6 months |
Financial Health Grade: B
In 2023, Southern Maine Finance Agency reported a deficit of $39K with expenses exceeding revenue, holds 118.6 months of operating reserves (strong position), has a debt-to-asset ratio of 32.6% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), Southern Maine Finance Agency's revenue has grown at a compound annual growth rate (CAGR) of 7.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +9.2% | +22.5% | -3.0% |
| 2022 | -12.7% | +5.8% | -2.4% |
| 2021 | -9.0% | -13.6% | -0.3% |
| 2020 | -10.3% | -33.3% | -0.7% |
| 2019 | -6.4% | +92.6% | +12.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1993 |
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 Southern Maine Finance Agency 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: 80%
- fundraising: 5%
According to IRS 990 filings, Southern Maine Finance Agency allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% 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 $39K, with expenses exceeding revenue.
- Debt-to-asset ratio: 32.6%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that officers are either unpaid volunteers or compensated through other means not categorized as officer compensation on the 990, which is unusual for an organization of its size with assets nearing $7.5 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 Southern Maine Finance Agency's IRS 990 filings:
- No reported officer compensation for an organization with significant assets and revenue, which could warrant further investigation into how leadership is compensated or structured.
Strengths
The following positive indicators were identified for Southern Maine Finance Agency:
- Consistent asset growth from $4.79M in 2014 to $7.49M in 2023, indicating strong financial management.
- Generally stable financial operations with revenues often exceeding expenses.
- High transparency regarding executive compensation (0% reported).
- Long history of IRS 990 filings (13 filings), demonstrating consistent compliance.
Frequently Asked Questions about Southern Maine Finance Agency
Is Southern Maine Finance Agency a legitimate charity?
Based on AI analysis of IRS 990 filings, Southern Maine Finance Agency (EIN: 10472964) some concerns. Mission Score: 85/100. 1 red flag identified, 4 strengths noted.
How does Southern Maine Finance Agency spend its money?
Southern Maine Finance Agency directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Southern Maine Finance Agency tax-deductible?
Southern Maine Finance Agency is registered as a tax-exempt nonprofit (EIN: 10472964). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Southern Maine Finance Agency CEO make?
Southern Maine Finance Agency's highest-compensated officer earns $7.5 annually. The organization reported $1.4M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Southern Maine Finance Agency's spending goes to programs?
Southern Maine Finance Agency directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Southern Maine Finance Agency compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Southern Maine Finance Agency is above average for NTEE category S20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Southern Maine Finance Agency located?
Southern Maine Finance Agency is headquartered in Biddeford, Maine and files with the IRS under EIN 10472964. It is classified under NTEE code S20.
How many years of IRS 990 filings does Southern Maine Finance Agency have?
Southern Maine Finance Agency has 13 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 $1.4M in total revenue.
Is Southern Maine Finance Agency a good charity?
Based on the provided financial data, the Southern Maine Finance Agency appears to be a financially stable organization with consistent asset growth and a history of managing expenses effectively. The lack of reported officer compensation is a unique characteristic that could indicate a highly efficient or volunteer-driven leadership structure, which is generally positive for a charity.
How has the organization's financial health changed over time?
The organization's financial health has generally improved, with assets growing from $4,790,274 in 2014 to $7,492,339 in 2023. While there have been fluctuations in annual revenue and expenses, the overall trend shows stability and growth in net assets.
What is the trend in revenue versus expenses?
Revenue has fluctuated, with a high of $1,436,094 in 2016 and a low of $477,931 in 2015. Expenses have generally been lower than revenue in most years, leading to operational surpluses, though 2019 and 2023 showed slight deficits where expenses exceeded revenue.
Filing History
IRS 990 filing history for Southern Maine Finance Agency showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Southern Maine Finance Agency's revenue has grown by 147.9%, moving from $290K to $719K. Total assets increased by 84.8% over the same period, from $4.1M to $7.5M. Total functional expenses rose by 91.2%, from $396K to $758K. In its most recent filing year (2023), Southern Maine Finance Agency reported a deficit of $39K, with expenses exceeding revenue. The organization holds $2.4M in liabilities against $7.5M in assets (debt-to-asset ratio: 32.6%), resulting in net assets of $5.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $719K | $758K | $7.5M | $2.4M | — | View 990 |
| 2022 | $658K | $618K | $7.7M | $2.6M | — | View 990 |
| 2021 | $754K | $584K | $7.9M | $2.9M | — | — |
| 2020 | $829K | $677K | $7.9M | $3.0M | — | View 990 |
| 2019 | $924K | $1.0M | $8.0M | $3.2M | — | View 990 |
| 2018 | $988K | $527K | $7.1M | $2.2M | — | View 990 |
| 2017 | $850K | $664K | $6.8M | $2.4M | — | View 990 |
| 2016 | $1.4M | $391K | $6.4M | $2.2M | — | View 990 |
| 2015 | $478K | $390K | $5.4M | $2.2M | — | View 990 |
| 2014 | $577K | $390K | $4.8M | $1.7M | — | View 990 |
| 2013 | $409K | $371K | $4.6M | $1.7M | — | View 990 |
| 2012 | $340K | $440K | $4.5M | $1.6M | — | View 990 |
| 2011 | $290K | $396K | $4.1M | $1.1M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $719K, expenses of $758K, and assets of $7.5M (revenue +9.2% year-over-year).
- 2022: Revenue of $658K, expenses of $618K, and assets of $7.7M (revenue -12.7% year-over-year).
- 2021: Revenue of $754K, expenses of $584K, and assets of $7.9M (revenue -9.0% year-over-year).
- 2020: Revenue of $829K, expenses of $677K, and assets of $7.9M (revenue -10.3% year-over-year).
- 2019: Revenue of $924K, expenses of $1.0M, and assets of $8.0M (revenue -6.4% year-over-year).
- 2018: Revenue of $988K, expenses of $527K, and assets of $7.1M (revenue +16.2% year-over-year).
- 2017: Revenue of $850K, expenses of $664K, and assets of $6.8M (revenue -40.8% year-over-year).
- 2016: Revenue of $1.4M, expenses of $391K, and assets of $6.4M (revenue +200.5% year-over-year).
- 2015: Revenue of $478K, expenses of $390K, and assets of $5.4M (revenue -17.2% year-over-year).
- 2014: Revenue of $577K, expenses of $390K, and assets of $4.8M (revenue +41.3% year-over-year).
- 2013: Revenue of $409K, expenses of $371K, and assets of $4.6M (revenue +20.1% year-over-year).
- 2012: Revenue of $340K, expenses of $440K, and assets of $4.5M (revenue +17.2% year-over-year).
- 2011: Revenue of $290K, expenses of $396K, and assets of $4.1M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Southern Maine Finance Agency:
Data Sources and Methodology
This transparency report for Southern Maine Finance Agency 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.