Is Southern Aroostook Development Corporation Legit?
Quick charity verification for Southern Aroostook Development Corporation (EIN: 10243319)
Verdict: Southern Aroostook Development Corporation appears trustworthy
85/100Mission Score
$152KRevenue
$121KAssets
2Red Flags
4Strengths
Red Flags
Operating deficit in 2023 ($152,785 expenses vs. $106,527 revenue)
Significant increase in liabilities in 2023 to $38,503 from $2,842 in 2022
Strengths
Consistent 0% officer compensation across all reported years, indicating low administrative overhead in this area.
Long history of IRS 990 filings (13 filings), demonstrating transparency.
Growth in assets from $22,024 in 2020 to $116,430 in 2023, indicating financial growth and stability over time.
Strong revenue performance in 2022 ($172,773) which led to a significant surplus.
Spending Breakdown
How Southern Aroostook Development Corporation allocates its funds across programs, administration, and fundraising.
80%
Program Spending
Healthy — majority goes to mission
15%
Admin Costs
Reasonable — admin costs in check
5%
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 Southern Aroostook Development Corporation
Is Southern Aroostook Development Corporation a legitimate charity?
Based on AI analysis of IRS 990 filings, Southern Aroostook Development Corporation (EIN: 10243319) appears trustworthy. Mission Score: 85/100. 2 red flags identified, 4 strengths noted.
Is Southern Aroostook Development Corporation a good charity to donate to?
Southern Aroostook Development Corporation has a Mission Score of 85/100. Revenue: $152K. Assets: $121K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Southern Aroostook Development Corporation?
The Employer Identification Number (EIN) for Southern Aroostook Development Corporation is 10243319. 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 Southern Aroostook Development Corporation spend its money?
Southern Aroostook Development Corporation allocates 80% to programs, 15% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Southern Aroostook Development Corporation's tax-exempt status?
You can verify Southern Aroostook Development Corporation's tax-exempt status using EIN 10243319 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
Southern Aroostook Development Corporation demonstrates a generally stable financial position, though with some fluctuations in recent years. In 2023, the organization reported expenses exceeding revenue ($152,785 vs. $106,527), leading to a deficit for the year. This contrasts with 2022, where revenue significantly outpaced expenses ($172,773 vs. $95,303). The organization's assets have shown growth over the past few years, increasing from $22,024 in 2020 to $116,430 in 2023, indicating a build-up of financial reserves. Liabilities have also seen an increase in 2023 to $38,503, which is higher than previous years. The consistent reporting of 0% officer compensation across all available filings suggests a commitment to minimizing administrative overhead in this area, which is a positive indicator for spending efficiency. However, without a detailed breakdown of program, administrative, and fundraising expenses, a precise assessment of spending efficiency is challenging. The organization's consistent filing of IRS Form 990s over many years indicates good transparency regarding its financial operations.