Is North Yarmouth Cumberland Mutual Fire Ins Co Legit?
Quick charity verification for North Yarmouth Cumberland Mutual Fire Ins Co (EIN: 10240874)
Verdict: North Yarmouth Cumberland Mutual Fire Ins Co has notable concerns
20/100Mission Score
$53Revenue
$3KAssets
4Red Flags
1Strengths
Red Flags
Drastic 99.6% decline in assets from $875,951 in 2022 to $2,752 in 2023.
Extremely low and volatile revenue, including negative revenue in 2022 ($-7,195) and minimal revenue ($53) in 2023.
Expenses consistently exceed revenue in multiple years (e.g., $17,867 expenses vs. $53 revenue in 2023; $39,322 expenses vs. $-7,195 revenue in 2022).
Lack of clear program spending data, making it impossible to assess program efficiency.
Strengths
Consistent reporting of 0% officer compensation, indicating a potentially volunteer-driven leadership structure.
Spending Breakdown
How North Yarmouth Cumberland Mutual Fire Ins Co allocates its funds across programs, administration, and fundraising.
0%
Program Spending
Concerning — less than half to programs
100%
Admin Costs
High — over 25% on administration
0%
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 North Yarmouth Cumberland Mutual Fire Ins Co
Is North Yarmouth Cumberland Mutual Fire Ins Co a legitimate charity?
Based on AI analysis of IRS 990 filings, North Yarmouth Cumberland Mutual Fire Ins Co (EIN: 10240874) has notable concerns. Mission Score: 20/100. 4 red flags identified, 1 strength noted.
Is North Yarmouth Cumberland Mutual Fire Ins Co a good charity to donate to?
North Yarmouth Cumberland Mutual Fire Ins Co has a Mission Score of 20/100. Revenue: $53. Assets: $3K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for North Yarmouth Cumberland Mutual Fire Ins Co?
The Employer Identification Number (EIN) for North Yarmouth Cumberland Mutual Fire Ins Co is 10240874. 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 North Yarmouth Cumberland Mutual Fire Ins Co spend its money?
North Yarmouth Cumberland Mutual Fire Ins Co allocates 0% to programs, 100% to administration, and 0% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify North Yarmouth Cumberland Mutual Fire Ins Co's tax-exempt status?
You can verify North Yarmouth Cumberland Mutual Fire Ins Co's tax-exempt status using EIN 10240874 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
North Yarmouth Cumberland Mutual Fire Ins Co appears to be a very small organization, as indicated by its latest reported revenue of $53 and assets of $2,752 in 2023. The organization's financial health shows significant volatility, with revenue fluctuating from a high of $129,573 in 2021 to a negative revenue of $-7,195 in 2022. This extreme fluctuation, coupled with expenses often exceeding revenue (e.g., $17,867 in expenses against $53 revenue in 2023), suggests potential financial instability or a business model that relies on accumulated assets rather than consistent annual income. The substantial drop in assets from $875,951 in 2022 to $2,752 in 2023 is a critical concern that warrants further investigation, as it represents a near-total depletion of reported assets. Given the lack of detailed expense breakdowns in the provided data, it's challenging to assess spending efficiency beyond noting that expenses frequently outpace revenue. The consistent reporting of 0% officer compensation suggests a volunteer-led or very lean operational structure, which could be a positive for efficiency if programs are being delivered effectively. However, the overall financial picture, particularly the asset decline, raises significant questions about its long-term viability and operational capacity.