Bangor Fuel Society
Bangor Fuel Society consistently spends more than it earns, relying on substantial assets.
EIN: 16010608 · Bangor, ME · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $39K |
| Total Expenses | $76K |
| Program Spending | 85% |
| Net Assets | $728K |
| Transparency Score | 80/100 |
Is Bangor Fuel Society Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Bangor Fuel Society directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Bangor Fuel Society
Bangor Fuel Society (EIN: 16010608) is a nonprofit organization based in Bangor, ME. The organization reported total revenue of $39K and total assets of $676K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Bangor Fuel Society's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Bangor Fuel Society is a micro nonprofit that has been operating for 53 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 0.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $37K |
| Total Expenses | $76K |
| Surplus / Deficit | $-39,294 |
| Total Assets | $728K |
| Total Liabilities | $1 |
| Net Assets | $728K |
| Operating Margin | -106.9% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 114.9 months |
Financial Health Grade: B
In 2023, Bangor Fuel Society reported a deficit of $39K with expenses exceeding revenue, holds 114.9 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), Bangor Fuel Society's revenue has grown at a compound annual growth rate (CAGR) of 0.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -5.1% | +21.3% | -5.1% |
| 2022 | -52.0% | +20.6% | -3.0% |
| 2021 | +131.5% | -39.1% | +3.7% |
| 2020 | -6.4% | +42.8% | -6.3% |
| 2019 | +14.1% | +39.8% | +17.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1973 |
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 Bangor Fuel Society with a Mission Score of 80 out of 100 (Excellent). 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: 85%
- fundraising: 5%
According to IRS 990 filings, Bangor Fuel Society allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $39K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all filings, indicating that the organization's leadership is likely volunteer-based, which is highly efficient for an organization of its size and revenue.
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 Bangor Fuel Society's IRS 990 filings:
- Consistent deficit spending (expenses frequently exceed revenue, e.g., $76,063 expenses vs. $36,769 revenue in 2023).
- Declining asset base in recent years (from $791,438 in 2021 to $728,187 in 2023), potentially due to deficit spending.
Strengths
The following positive indicators were identified for Bangor Fuel Society:
- Strong asset base ($675,822) providing financial stability.
- Zero officer compensation, indicating volunteer leadership and efficient use of funds.
- Negligible liabilities across all reported periods, demonstrating excellent financial health.
- Consistent IRS 990 filing history, indicating good transparency and compliance.
Frequently Asked Questions about Bangor Fuel Society
Is Bangor Fuel Society a legitimate charity?
Bangor Fuel Society (EIN: 16010608) is a registered tax-exempt nonprofit based in Maine. Our AI analysis gives it a Mission Score of 80/100. It has 10 years of IRS 990 filings on record. Total revenue: $39K. 2 red flags identified. 4 strengths noted. Financial health grade: B.
How does Bangor Fuel Society spend its money?
Bangor Fuel Society directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Bangor Fuel Society tax-deductible?
Bangor Fuel Society is registered as a tax-exempt nonprofit (EIN: 16010608). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Bangor Fuel Society's spending goes to programs?
Bangor Fuel Society directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Bangor Fuel Society located?
Bangor Fuel Society is headquartered in Bangor, Maine and files with the IRS under EIN 16010608.
How many years of IRS 990 filings does Bangor Fuel Society have?
Bangor Fuel Society has 10 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 $39K in total revenue.
Is Bangor Fuel Society a good charity?
Based on the available data, Bangor Fuel Society appears to be a good charity, particularly due to its volunteer leadership (0% officer compensation) and substantial asset base ($675,822) which provides financial stability. However, its consistent deficit spending in recent years (e.g., $76,063 expenses vs. $36,769 revenue in 2023) is a concern for long-term operational sustainability.
How does Bangor Fuel Society fund its operations given consistent deficit spending?
The Bangor Fuel Society appears to fund its operations, especially during periods of deficit spending (e.g., 2023 expenses of $76,063 against revenue of $36,769), by drawing upon its significant accumulated assets, which were $728,187 in 2023 and have historically been robust.
What is the long-term financial outlook for Bangor Fuel Society?
While the organization has a strong asset base, the consistent trend of expenses exceeding revenue (e.g., in 7 out of 10 reported periods) suggests a need for strategic financial planning to ensure long-term sustainability without depleting its reserves. The outlook depends on its ability to increase revenue or manage expenses more closely in line with income.
Filing History
IRS 990 filing history for Bangor Fuel Society showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Bangor Fuel Society's revenue has grown by 4.7%, moving from $35K to $37K. Total assets increased by 4.2% over the same period, from $699K to $728K. Total functional expenses rose by 38.1%, from $55K to $76K. In its most recent filing year (2023), Bangor Fuel Society reported a deficit of $39K, with expenses exceeding revenue. The organization holds $1 in liabilities against $728K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $728K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $37K | $76K | $728K | $1 | — | — |
| 2022 | $39K | $63K | $767K | $1 | — | — |
| 2021 | $81K | $52K | $791K | $1 | — | View 990 |
| 2020 | $35K | $85K | $763K | $1 | — | — |
| 2019 | $37K | $60K | $814K | $0 | — | View 990 |
| 2015 | $33K | $43K | $695K | $0 | — | View 990 |
| 2014 | $50K | $51K | $706K | $2 | — | View 990 |
| 2013 | $72K | $47K | $706K | $0 | — | View 990 |
| 2012 | $31K | $48K | $682K | $1 | — | View 990 |
| 2011 | $35K | $55K | $699K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $37K, expenses of $76K, and assets of $728K (revenue -5.1% year-over-year).
- 2022: Revenue of $39K, expenses of $63K, and assets of $767K (revenue -52.0% year-over-year).
- 2021: Revenue of $81K, expenses of $52K, and assets of $791K (revenue +131.5% year-over-year).
- 2020: Revenue of $35K, expenses of $85K, and assets of $763K (revenue -6.4% year-over-year).
- 2019: Revenue of $37K, expenses of $60K, and assets of $814K (revenue +14.1% year-over-year).
- 2015: Revenue of $33K, expenses of $43K, and assets of $695K (revenue -35.2% year-over-year).
- 2014: Revenue of $50K, expenses of $51K, and assets of $706K (revenue -29.7% year-over-year).
- 2013: Revenue of $72K, expenses of $47K, and assets of $706K (revenue +128.7% year-over-year).
- 2012: Revenue of $31K, expenses of $48K, and assets of $682K (revenue -10.7% year-over-year).
- 2011: Revenue of $35K, expenses of $55K, and assets of $699K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Bangor Fuel Society:
Data Sources and Methodology
This transparency report for Bangor Fuel Society 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.