Quick charity verification for Merrymeeting Lake Association (EIN: 20413287)
Verdict: Merrymeeting Lake Association appears trustworthy
95/100Mission Score
$52KRevenue
$187KAssets
0Red Flags
5Strengths
No red flags identified.
Strengths
Consistent operating surpluses, such as $22,958 in 2023 ($51,534 revenue - $28,576 expenses).
Zero liabilities reported across all 13 filings, indicating excellent financial management.
100% volunteer executive leadership with 0% officer compensation.
Growing asset base, from $100,237 in 2015 to $187,181 in 2023, demonstrating financial stability.
High program spending efficiency due to minimal administrative and fundraising costs.
AI Transparency Report
The Merrymeeting Lake Association demonstrates sound financial health and efficient spending, particularly given its modest size. In the latest fiscal period (202312), the organization reported revenue of $51,534 against expenses of $28,576, resulting in a healthy surplus that contributes to its growing asset base of $187,181. The consistent absence of liabilities across all reported periods indicates strong financial management and a debt-free operation. This financial stability allows the organization to focus its resources directly on its mission without the burden of debt. The organization's transparency is high, as evidenced by its consistent filing of IRS Form 990s and the clear reporting of zero officer compensation, which suggests a volunteer-driven leadership model. This commitment to volunteerism and direct program spending enhances its overall financial efficiency and trustworthiness.