Is Boothbay Harbor Region Chamber Of Commerce Legit?
Quick charity verification for Boothbay Harbor Region Chamber Of Commerce (EIN: 10220724)
Verdict: Boothbay Harbor Region Chamber Of Commerce appears trustworthy
85/100Mission Score
$346KRevenue
$476KAssets
1Red Flags
3Strengths
Red Flags
Occasional operating deficits, such as in 202310 where expenses ($308,797) exceeded revenue ($296,225).
Strengths
Consistent reporting of 0% officer compensation across all filings.
Healthy asset-to-liability ratio, with assets consistently higher than liabilities (e.g., $448,289 assets vs. $202,955 liabilities in 202310).
Long history of IRS 990 filings (13 filings), indicating transparency and compliance.
Spending Breakdown
How Boothbay Harbor Region Chamber Of Commerce allocates its funds across programs, administration, and fundraising.
70%
Program Spending
Below average — room for improvement
20%
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 Boothbay Harbor Region Chamber Of Commerce
Is Boothbay Harbor Region Chamber Of Commerce a legitimate charity?
Based on AI analysis of IRS 990 filings, Boothbay Harbor Region Chamber Of Commerce (EIN: 10220724) appears trustworthy. Mission Score: 85/100. 1 red flag identified, 3 strengths noted.
Is Boothbay Harbor Region Chamber Of Commerce a good charity to donate to?
Boothbay Harbor Region Chamber Of Commerce has a Mission Score of 85/100. Revenue: $346K. Assets: $476K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Boothbay Harbor Region Chamber Of Commerce?
The Employer Identification Number (EIN) for Boothbay Harbor Region Chamber Of Commerce is 10220724. 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 Boothbay Harbor Region Chamber Of Commerce spend its money?
Boothbay Harbor Region Chamber Of Commerce allocates 70% to programs, 20% to administration, and 10% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Boothbay Harbor Region Chamber Of Commerce's tax-exempt status?
You can verify Boothbay Harbor Region Chamber Of Commerce's tax-exempt status using EIN 10220724 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 Boothbay Harbor Region Chamber Of Commerce demonstrates a generally stable financial position, with assets consistently exceeding liabilities over the past decade. In the latest filing (202310), the organization reported assets of $448,289 against liabilities of $202,955, indicating a healthy financial cushion. Revenue and expenses have fluctuated, with the organization experiencing a slight deficit in 202310 (revenue of $296,225 vs. expenses of $308,797) and 202010, but showing surpluses in other recent years like 202210 (revenue of $394,112 vs. expenses of $279,471). This suggests a capacity to manage operational costs, though careful monitoring of spending relative to income is warranted.
The organization's transparency is bolstered by its consistent filing of IRS Form 990s, with 13 filings available, indicating adherence to reporting requirements. A notable aspect is the consistent reporting of 0% officer compensation across all available filings, which suggests that executive leadership is either volunteer-based or compensated through other means not categorized as officer compensation, enhancing public trust regarding resource allocation. While specific program spending details are not provided in the summary data, the overall financial health appears sound for an organization of its size, with a focus on maintaining a positive asset-to-liability ratio.