American Folk Festival On The Bangor Waterfront
American Folk Festival operates on tight margins with high liabilities and no reported executive compensation.
EIN: 20618599 · Bangor, ME · NTEE: A20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $757K |
| Total Expenses | $734K |
| Program Spending | 80% |
| Net Assets | $-91,004 |
| Transparency Score | 75/100 |
Is American Folk Festival On The Bangor Waterfront Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
American Folk Festival On The Bangor Waterfront directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About American Folk Festival On The Bangor Waterfront
American Folk Festival On The Bangor Waterfront (EIN: 20618599) is a nonprofit organization based in Bangor, ME, classified under NTEE code A20. The organization reported total revenue of $757K and total assets of $44K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of American Folk Festival On The Bangor Waterfront's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
American Folk Festival On The Bangor Waterfront is a small nonprofit that has been operating for 23 years, with 8 years of IRS 990 filings on record (2011–2018). Revenue has grown at a compound annual rate of -2.2%.
Key Financial Metrics (2018)
From the most recent IRS 990 filing on record:
| Total Revenue | $720K |
| Total Expenses | $734K |
| Surplus / Deficit | $-14,189 |
| Total Assets | $44K |
| Total Liabilities | $135K |
| Net Assets | $-91,004 |
| Operating Margin | -2.0% |
| Debt-to-Asset Ratio | 306.9% |
| Months of Reserves | 0.7 months |
Financial Health Grade: D
In 2018, American Folk Festival On The Bangor Waterfront reported a deficit of $14K with expenses exceeding revenue, holds 0.7 months of operating reserves (limited), has a debt-to-asset ratio of 306.9% (high leverage).
Financial Trends
Over 8 years of filings (2011–2018), American Folk Festival On The Bangor Waterfront's revenue has declined at a compound annual growth rate (CAGR) of -2.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2018 | +15.1% | +31.3% | +0.8% |
| 2017 | -23.6% | -34.4% | +334.3% |
| 2016 | -1.4% | +5.4% | -69.9% |
| 2015 | -4.4% | -5.9% | +53.0% |
| 2014 | +1.4% | +5.4% | -52.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 2003 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates American Folk Festival On The Bangor Waterfront with a Mission Score of 75 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 80%
- fundraising: 10%
According to IRS 990 filings, American Folk Festival On The Bangor Waterfront allocates its expenses as follows: admin: 10%, programs: 80%, fundraising: 10%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2018)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $14K, with expenses exceeding revenue.
- Debt-to-asset ratio: 306.9%.
Executive Compensation Analysis
The organization reports 0% officer compensation across all available filings, indicating that its leadership is either entirely volunteer-based or compensated through other means not categorized as officer compensation, which is a positive for minimizing overhead.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of American Folk Festival On The Bangor Waterfront's IRS 990 filings:
- Consistently high liabilities relative to assets (e.g., $134,993 liabilities vs. $43,989 assets in 2018)
- Limited financial reserves, with assets remaining low despite significant annual revenues.
Strengths
The following positive indicators were identified for American Folk Festival On The Bangor Waterfront:
- Consistent revenue generation, demonstrating a stable operational model.
- No reported officer compensation, indicating a volunteer-driven or highly efficient leadership structure.
- Consistent IRS 990 filing history, demonstrating transparency and compliance.
- Maintains operations despite tight margins, suggesting strong community support and effective event management.
Frequently Asked Questions about American Folk Festival On The Bangor Waterfront
Is American Folk Festival On The Bangor Waterfront a legitimate charity?
Based on AI analysis of IRS 990 filings, American Folk Festival On The Bangor Waterfront (EIN: 20618599) some concerns. Mission Score: 75/100. 2 red flags identified, 4 strengths noted.
How does American Folk Festival On The Bangor Waterfront spend its money?
American Folk Festival On The Bangor Waterfront directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to American Folk Festival On The Bangor Waterfront tax-deductible?
American Folk Festival On The Bangor Waterfront is registered as a tax-exempt nonprofit (EIN: 20618599). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of American Folk Festival On The Bangor Waterfront's spending goes to programs?
American Folk Festival On The Bangor Waterfront directs 80% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does American Folk Festival On The Bangor Waterfront compare to similar nonprofits?
With a transparency score of 75/100 (Good), American Folk Festival On The Bangor Waterfront is above average for NTEE category A20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is American Folk Festival On The Bangor Waterfront located?
American Folk Festival On The Bangor Waterfront is headquartered in Bangor, Maine and files with the IRS under EIN 20618599. It is classified under NTEE code A20.
How many years of IRS 990 filings does American Folk Festival On The Bangor Waterfront have?
American Folk Festival On The Bangor Waterfront has 8 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $757K in total revenue.
How does the organization manage its high liabilities relative to its assets?
The organization consistently reports liabilities significantly higher than its assets (e.g., $134,993 liabilities vs. $43,989 assets in 2018). This suggests a reliance on short-term financing or significant outstanding payables, which could pose a liquidity risk.
What is the detailed breakdown of program vs. administrative expenses?
Without a detailed expense breakdown from the 990, it's difficult to precisely determine the percentage of spending directly on programs versus administrative or fundraising costs. However, the absence of officer compensation suggests a lean administrative structure.
What is the source of the organization's consistent revenue?
The organization consistently generates over $600,000 in revenue annually, indicating a stable funding model, likely from ticket sales, sponsorships, and donations related to the festival.
Filing History
IRS 990 filing history for American Folk Festival On The Bangor Waterfront showing financial trends over 8 years of public records:
Over 8 years of IRS 990 filings (2011–2018), American Folk Festival On The Bangor Waterfront's revenue has declined by 14.5%, moving from $842K to $720K. Total assets increased by 45.4% over the same period, from $30K to $44K. Total functional expenses fell by 13.4%, from $848K to $734K. In its most recent filing year (2018), American Folk Festival On The Bangor Waterfront reported a deficit of $14K, with expenses exceeding revenue. The organization holds $135K in liabilities against $44K in assets (debt-to-asset ratio: 306.9%), resulting in net assets of $-91,004.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2018 | $720K | $734K | $44K | $135K | — | View 990 |
| 2017 | $625K | $559K | $44K | $115K | — | View 990 |
| 2016 | $819K | $852K | $10K | $150K | — | View 990 |
| 2015 | $830K | $809K | $33K | $140K | — | View 990 |
| 2014 | $869K | $860K | $22K | $150K | — | View 990 |
| 2013 | $856K | $816K | $46K | $183K | — | View 990 |
| 2012 | $880K | $828K | $32K | $210K | — | View 990 |
| 2011 | $842K | $848K | $30K | $260K | — | View 990 |
Year-by-Year Financial Summary
- 2018: Revenue of $720K, expenses of $734K, and assets of $44K (revenue +15.1% year-over-year).
- 2017: Revenue of $625K, expenses of $559K, and assets of $44K (revenue -23.6% year-over-year).
- 2016: Revenue of $819K, expenses of $852K, and assets of $10K (revenue -1.4% year-over-year).
- 2015: Revenue of $830K, expenses of $809K, and assets of $33K (revenue -4.4% year-over-year).
- 2014: Revenue of $869K, expenses of $860K, and assets of $22K (revenue +1.4% year-over-year).
- 2013: Revenue of $856K, expenses of $816K, and assets of $46K (revenue -2.7% year-over-year).
- 2012: Revenue of $880K, expenses of $828K, and assets of $32K (revenue +4.6% year-over-year).
- 2011: Revenue of $842K, expenses of $848K, and assets of $30K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for American Folk Festival On The Bangor Waterfront:
Data Sources and Methodology
This transparency report for American Folk Festival On The Bangor Waterfront is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.