Maine Needs Inc

Analysis

Maine Needs Inc is a registered charity in United States, based in Portland, ME. It received its IRS tax-exemption ruling in September 2020, 6 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Maine Needs Inc reported income of $3.0m and spending of $2.8m, spending 95% of its income. Across the 4 years on record, from December 2020 to December 2023, income grew from $353k to $3.0m (+745%), an average of +104% a year. The sharpest change came in the year to December 2023, when income rose by 170%. Over the whole period it spent 87% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Maine Needs Inc sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 88th percentile within ME. Charities of a similar size with the same main cause include New Foundations Inc ($3.0m), Good Samaritan Minstries Ltd ($3.0m) and Scera Corporation ($3.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $71k (2.5% of expenses). Other salaries and wages came to $68k. At year end it held assets of $704k against liabilities of $4,970, net assets of $699k. It reported 2 employees.