Is Bangor Region Chamber Of Commerce Legit?…

Quick charity verification for Bangor Region Chamber Of Commerce (EIN: 10024245)

Red Flags

Consistent operational deficits in multiple years (e.g., 202312, 202212, 202012, 201912, 201812, 201712, 201612, 201412).
Liabilities significantly exceeding assets in recent periods ($634,691 liabilities vs. $349,152 assets in 202312; $605,444 liabilities vs. $467,556 assets in 202212).
Lack of detailed expense breakdown (program, admin, fundraising) in the provided summary data, hindering full efficiency analysis.

Spending Breakdown

How Bangor Region Chamber Of Commerce allocates its funds across programs, administration, and fundraising.

75%

Program Spending

Healthy — majority goes to mission

15%

Admin Costs

Reasonable — admin costs in check

10%

Fundraising

Within typical range

How to read this: Well-run charities typically spend 75% or more on programs, keep admin under 25%, and fundraising under 15%. A high program ratio means more of every dollar goes directly to the mission.

How to Interpret This Report

What Red Flags Mean

Red flags are potential warning signs identified by AI analysis of IRS 990 filings. They may indicate issues like declining revenue, high executive pay relative to program spending, lack of transparency, or governance concerns. A single red flag does not necessarily mean an organization is untrustworthy, but multiple flags warrant further investigation before donating.

What Mission Score Measures

The Mission Score (0-100) evaluates how effectively a nonprofit fulfills its stated purpose. It combines multiple factors: program spending efficiency (how much goes to programs vs. overhead), financial health and sustainability, governance quality, transparency in reporting, and consistency of operations over time. A score of 70+ indicates strong alignment with the organization’s mission.

Using This Data for Donation Decisions

Use this report as one input in your decision. Look at the overall Mission Score for a quick assessment, review red flags and strengths for specific concerns, check the spending breakdown to see where money goes, and compare executive compensation to the organization’s size. Consider viewing the full transparency report for deeper analysis, and always verify tax-exempt status with the IRS before making large donations.

Frequently Asked Questions about Bangor Region Chamber Of Commerce

Is Bangor Region Chamber Of Commerce a legitimate charity?

Based on AI analysis of IRS 990 filings, Bangor Region Chamber Of Commerce (EIN: 10024245) shows mixed signals. Mission Score: 60/100. 3 red flags identified, 3 strengths noted.

Is Bangor Region Chamber Of Commerce a good charity to donate to?

Bangor Region Chamber Of Commerce has a Mission Score of 60/100. Revenue: $671K. Assets: $161K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.

What is the EIN for Bangor Region Chamber Of Commerce?

The Employer Identification Number (EIN) for Bangor Region Chamber Of Commerce is 10024245. This is the unique tax ID assigned by the IRS.

What is a Mission Score?

The Mission Score is a 0-100 rating that measures how effectively a nonprofit fulfills its stated mission. It factors in program spending efficiency, financial transparency, governance practices, and outcome reporting. Scores above 70 indicate strong mission alignment, 40-69 suggest mixed performance, and below 40 signals potential concerns.

How does Bangor Region Chamber Of Commerce spend its money?

Bangor Region Chamber Of Commerce allocates 75% to programs, 15% to administration, and 10% to fundraising. Healthy nonprofits typically spend 75%+ on programs.

How can I verify Bangor Region Chamber Of Commerce's tax-exempt status?

You can verify Bangor Region Chamber Of Commerce's tax-exempt status using EIN 10024245 on the IRS Tax Exempt Organization Search (TEOS) at apps.irs.gov/app/eos. You can also request copies of their Form 990 directly from the organization, as they are required by law to provide them upon request.

AI Transparency Report

The Bangor Region Chamber Of Commerce demonstrates a consistent operational pattern, with revenues and expenses generally in close proximity over the past decade. In the most recent filing (202312), the organization reported revenues of $573,304 against expenses of $720,955, indicating a deficit for that period. This trend of expenses exceeding revenue is also visible in several prior years, such as 202212 ($468,599 revenue vs. $610,617 expenses) and 202012 ($510,225 revenue vs. $567,087 expenses). 

The organization's asset base has fluctuated, with a notable increase in liabilities in recent years. For instance, in 202312, liabilities reached $634,691, significantly higher than its assets of $349,152, suggesting potential financial strain or reliance on short-term funding. This contrasts with earlier periods like 201812, where assets ($161,059) comfortably exceeded liabilities ($96,989). The consistent reporting of 0% officer compensation across all available filings indicates a commitment to minimizing administrative overhead in this specific area, which is a positive sign for transparency regarding executive pay.

While the organization consistently files its IRS 990s, providing a good level of transparency regarding its financial operations, the recurring deficits and increasing liabilities warrant closer examination. The lack of specific program, administrative, and fundraising expense breakdowns in the provided data makes a detailed assessment of spending efficiency challenging. However, the absence of officer compensation is a strong indicator of fiscal prudence in that particular area.

Is Bangor Region Chamber Of Commerce Legit?

Verdict: Bangor Region Chamber Of Commerce shows mixed signals