United Way Inc
United Way Inc. shows stable asset growth despite recent operating deficit, with no reported officer compensation.
EIN: 10241767 · Portland, ME · NTEE: T70Z · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $11.5M |
| Total Expenses | $13.9M |
| Program Spending | 80% |
| Net Assets | $18.3M |
| Transparency Score | 85/100 |
Is United Way Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
United Way Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About United Way Inc
United Way Inc (EIN: 10241767) is a nonprofit organization based in Portland, ME, classified under NTEE code T70Z. The organization reported total revenue of $11.5M and total assets of $20.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of United Way Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
United Way Inc is a large nonprofit that has been operating for 70 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 1.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $12.3M |
| Total Expenses | $13.9M |
| Surplus / Deficit | $-1,644,924 |
| Total Assets | $22.5M |
| Total Liabilities | $4.2M |
| Net Assets | $18.3M |
| Operating Margin | -13.4% |
| Debt-to-Asset Ratio | 18.5% |
| Months of Reserves | 19.4 months |
Financial Health Grade: B
In 2023, United Way Inc reported a deficit of $1.6M with expenses exceeding revenue, holds 19.4 months of operating reserves (strong position), has a debt-to-asset ratio of 18.5% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), United Way Inc's revenue has grown at a compound annual growth rate (CAGR) of 1.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -7.6% | +32.0% | +6.9% |
| 2022 | +41.9% | +9.3% | +7.2% |
| 2021 | -2.5% | -1.9% | +12.6% |
| 2020 | +9.6% | +4.5% | -9.3% |
| 2019 | -22.2% | +1.1% | -3.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1956 |
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 United Way Inc 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: 10%
- programs: 80%
- fundraising: 10%
According to IRS 990 filings, United Way Inc allocates its expenses as follows: admin: 10%, programs: 80%, fundraising: 10%. 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 $1.6M, with expenses exceeding revenue.
- Debt-to-asset ratio: 18.5%.
Executive Compensation Analysis
United Way Inc. reports 0% officer compensation across all provided filings, indicating that no compensation was paid to officers, directors, trustees, or key employees, which is highly favorable for donor confidence and suggests a volunteer-led or very lean executive structure.
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 United Way Inc's IRS 990 filings:
- Operating deficit in the most recent fiscal year (202306) where expenses ($13,922,816) exceeded revenue ($12,277,892) by over $1.6 million.
Strengths
The following positive indicators were identified for United Way Inc:
- Consistent asset growth over the past decade, reaching $22,491,063 in 2023.
- No reported officer compensation across all provided filings, indicating high transparency and potentially efficient use of funds.
- Strong financial reserves, with assets significantly exceeding annual expenses and liabilities.
- Consistent and timely filing of IRS Form 990s over 13 periods, demonstrating regulatory compliance and transparency.
Frequently Asked Questions about United Way Inc
Is United Way Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, United Way Inc (EIN: 10241767) some concerns. Mission Score: 85/100. 1 red flag identified, 4 strengths noted.
How does United Way Inc spend its money?
United Way Inc directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to United Way Inc tax-deductible?
United Way Inc is registered as a tax-exempt nonprofit (EIN: 10241767). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of United Way Inc's spending goes to programs?
United Way Inc directs 80% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does United Way Inc compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), United Way Inc is above average for NTEE category T70Z nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is United Way Inc located?
United Way Inc is headquartered in Portland, Maine and files with the IRS under EIN 10241767. It is classified under NTEE code T70Z.
How many years of IRS 990 filings does United Way Inc have?
United Way Inc 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 $11.5M in total revenue.
Is United Way Inc. a good charity?
Based on the provided data, United Way Inc. appears to be a well-managed charity with strong financial stability, consistent asset growth, and a transparent approach to executive compensation (reporting 0%). The organization consistently files its IRS 990s, demonstrating accountability.
What caused the significant expense increase and deficit in 2023?
The provided data shows expenses increased to $13,922,816 in 2023 from $10,550,047 in 2022, leading to a deficit. Further analysis of the detailed 990 filing for 2023 would be needed to identify the specific categories of increased spending.
How does United Way Inc.'s asset growth compare to its liabilities?
United Way Inc.'s assets have grown from $18,755,184 in 2014 to $22,491,063 in 2023, while liabilities have remained relatively stable, ranging from $1.7 million to $4.5 million. This indicates a healthy balance sheet with assets significantly exceeding liabilities.
Filing History
IRS 990 filing history for United Way Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), United Way Inc's revenue has grown by 25.9%, moving from $9.8M to $12.3M. Total assets increased by 28.9% over the same period, from $17.4M to $22.5M. Total functional expenses rose by 49.6%, from $9.3M to $13.9M. In its most recent filing year (2023), United Way Inc reported a deficit of $1.6M, with expenses exceeding revenue. The organization holds $4.2M in liabilities against $22.5M in assets (debt-to-asset ratio: 18.5%), resulting in net assets of $18.3M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $12.3M | $13.9M | $22.5M | $4.2M | — | — |
| 2022 | $13.3M | $10.6M | $21.0M | $1.8M | — | View 990 |
| 2021 | $9.4M | $9.7M | $19.6M | $2.0M | — | View 990 |
| 2020 | $9.6M | $9.8M | $17.4M | $2.4M | — | View 990 |
| 2019 | $8.8M | $9.4M | $19.2M | $4.1M | — | View 990 |
| 2018 | $11.3M | $9.3M | $19.9M | $4.5M | — | View 990 |
| 2017 | $9.7M | $9.1M | $19.3M | $4.3M | — | View 990 |
| 2016 | $9.0M | $8.8M | $18.5M | $4.4M | — | View 990 |
| 2015 | $8.4M | $8.8M | $18.6M | $4.6M | — | View 990 |
| 2014 | $9.3M | $9.4M | $18.8M | $4.1M | — | View 990 |
| 2013 | $8.9M | $9.5M | $18.4M | $4.4M | — | View 990 |
| 2012 | $9.1M | $9.0M | $17.9M | $3.7M | — | View 990 |
| 2011 | $9.8M | $9.3M | $17.4M | $3.0M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $12.3M, expenses of $13.9M, and assets of $22.5M (revenue -7.6% year-over-year).
- 2022: Revenue of $13.3M, expenses of $10.6M, and assets of $21.0M (revenue +41.9% year-over-year).
- 2021: Revenue of $9.4M, expenses of $9.7M, and assets of $19.6M (revenue -2.5% year-over-year).
- 2020: Revenue of $9.6M, expenses of $9.8M, and assets of $17.4M (revenue +9.6% year-over-year).
- 2019: Revenue of $8.8M, expenses of $9.4M, and assets of $19.2M (revenue -22.2% year-over-year).
- 2018: Revenue of $11.3M, expenses of $9.3M, and assets of $19.9M (revenue +16.7% year-over-year).
- 2017: Revenue of $9.7M, expenses of $9.1M, and assets of $19.3M (revenue +7.2% year-over-year).
- 2016: Revenue of $9.0M, expenses of $8.8M, and assets of $18.5M (revenue +7.2% year-over-year).
- 2015: Revenue of $8.4M, expenses of $8.8M, and assets of $18.6M (revenue -9.8% year-over-year).
- 2014: Revenue of $9.3M, expenses of $9.4M, and assets of $18.8M (revenue +4.6% year-over-year).
- 2013: Revenue of $8.9M, expenses of $9.5M, and assets of $18.4M (revenue -2.0% year-over-year).
- 2012: Revenue of $9.1M, expenses of $9.0M, and assets of $17.9M (revenue -6.9% year-over-year).
- 2011: Revenue of $9.8M, expenses of $9.3M, and assets of $17.4M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for United Way Inc:
Data Sources and Methodology
This transparency report for United Way 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.