Bangor Symphony Orchestra
Bangor Symphony Orchestra shows consistent asset growth and zero officer compensation over a decade.
EIN: 10024645 · Bangor, ME · NTEE: A69Z · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $2.1M |
| Total Expenses | $1.0M |
| Program Spending | 80% |
| CEO/Top Officer Pay | $1 |
| Net Assets | $3.5M |
| Transparency Score | 90/100 |
Is Bangor Symphony Orchestra Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Bangor Symphony Orchestra directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Bangor Symphony Orchestra
Bangor Symphony Orchestra (EIN: 10024645) is a nonprofit organization based in Bangor, ME, classified under NTEE code A69Z. The organization reported total revenue of $2.1M and total assets of $4.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Bangor Symphony Orchestra's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Bangor Symphony Orchestra is a mid-size nonprofit that has been operating for 58 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 2.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $867K |
| Total Expenses | $1.0M |
| Surplus / Deficit | $-137,805 |
| Total Assets | $3.5M |
| Total Liabilities | $62K |
| Net Assets | $3.5M |
| Operating Margin | -15.9% |
| Debt-to-Asset Ratio | 1.7% |
| Months of Reserves | 42.4 months |
Financial Health Grade: B
In 2023, Bangor Symphony Orchestra reported a deficit of $138K with expenses exceeding revenue, holds 42.4 months of operating reserves (strong position), has a debt-to-asset ratio of 1.7% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Bangor Symphony Orchestra's revenue has grown at a compound annual growth rate (CAGR) of 2.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -18.5% | +18.9% | +5.1% |
| 2022 | +14.5% | +42.0% | -8.0% |
| 2021 | -14.4% | -10.7% | +26.3% |
| 2020 | +3.4% | -23.6% | +14.9% |
| 2019 | +11.5% | +3.1% | +10.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 1968 |
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 Symphony Orchestra with a Mission Score of 90 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: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Bangor Symphony Orchestra allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% 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 $138K, with expenses exceeding revenue.
- Debt-to-asset ratio: 1.7%.
Executive Compensation Analysis
The Bangor Symphony Orchestra consistently reports 0% officer compensation across all 13 available IRS 990 filings, indicating that no salaries are paid to its officers, which is exceptional for an organization with annual revenues often exceeding $1 million and assets over $4 million.
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.
Strengths
The following positive indicators were identified for Bangor Symphony Orchestra:
- Consistent asset growth, from $1.8M in 2014 to $4.4M currently.
- Remarkable 0% officer compensation reported across all 13 filings.
- Low and stable liabilities relative to assets, indicating strong financial management.
- Long history of IRS 990 filings (13 filings), demonstrating transparency and longevity.
- Significant increase in latest reported revenue to $2,115,516, indicating potential for expanded programs.
Frequently Asked Questions about Bangor Symphony Orchestra
Is Bangor Symphony Orchestra a legitimate charity?
Based on AI analysis of IRS 990 filings, Bangor Symphony Orchestra (EIN: 10024645) appears legitimate. Mission Score: 90/100. 0 red flags identified, 5 strengths noted.
How does Bangor Symphony Orchestra spend its money?
Bangor Symphony Orchestra directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Bangor Symphony Orchestra tax-deductible?
Bangor Symphony Orchestra is registered as a tax-exempt nonprofit (EIN: 10024645). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Bangor Symphony Orchestra CEO make?
Bangor Symphony Orchestra's highest-compensated officer earns $1 annually. The organization reported $2.1M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Bangor Symphony Orchestra's spending goes to programs?
Bangor Symphony Orchestra directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Bangor Symphony Orchestra compare to similar nonprofits?
With a transparency score of 90/100 (Excellent), Bangor Symphony Orchestra is above average for NTEE category A69Z nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Bangor Symphony Orchestra located?
Bangor Symphony Orchestra is headquartered in Bangor, Maine and files with the IRS under EIN 10024645. It is classified under NTEE code A69Z.
How many years of IRS 990 filings does Bangor Symphony Orchestra have?
Bangor Symphony Orchestra has 13 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 $2.1M in total revenue.
Is Bangor Symphony Orchestra a good charity?
Based on the provided financial data, the Bangor Symphony Orchestra appears to be a very good charity. It demonstrates strong financial health with growing assets, low liabilities, and a remarkable commitment to transparency by reporting 0% officer compensation for over a decade. This suggests a high dedication to its mission and efficient use of resources.
How has the organization's financial health changed over the past decade?
The organization's financial health has steadily improved over the past decade. Assets have more than doubled from $1,821,821 in 2014 to $4,408,529 currently. While revenues and expenses have fluctuated annually, the overall trend shows growth and stability, with liabilities remaining consistently low.
What is the significance of 0% officer compensation?
The 0% officer compensation is highly significant. It indicates that the organization's leadership is either entirely volunteer-based or compensated through other means not classified as officer compensation, which is rare for an organization of this size. This practice strongly suggests that funds are being directed towards program delivery and operational needs rather than executive salaries, enhancing its financial efficiency and public trust.
Filing History
IRS 990 filing history for Bangor Symphony Orchestra showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Bangor Symphony Orchestra's revenue has grown by 34.3%, moving from $645K to $867K. Total assets increased by 146.8% over the same period, from $1.4M to $3.5M. Total functional expenses rose by 92.1%, from $523K to $1.0M. In its most recent filing year (2023), Bangor Symphony Orchestra reported a deficit of $138K, with expenses exceeding revenue. The organization holds $62K in liabilities against $3.5M in assets (debt-to-asset ratio: 1.7%), resulting in net assets of $3.5M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $867K | $1.0M | $3.5M | $62K | — | — |
| 2022 | $1.1M | $845K | $3.4M | $37K | — | View 990 |
| 2021 | $929K | $595K | $3.7M | $43K | — | — |
| 2020 | $1.1M | $667K | $2.9M | $86K | — | View 990 |
| 2019 | $1.0M | $873K | $2.5M | $91K | — | View 990 |
| 2018 | $941K | $846K | $2.3M | $49K | — | View 990 |
| 2017 | $936K | $810K | $2.1M | $74K | — | View 990 |
| 2016 | $668K | $740K | $1.9M | $61K | — | View 990 |
| 2015 | $1.0M | $708K | $1.9M | $74K | — | View 990 |
| 2014 | $1.0M | $634K | $1.8M | $64K | — | View 990 |
| 2013 | $683K | $594K | $1.5M | $129K | — | View 990 |
| 2012 | $633K | $588K | $1.4M | $201K | — | View 990 |
| 2011 | $645K | $523K | $1.4M | $278K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $867K, expenses of $1.0M, and assets of $3.5M (revenue -18.5% year-over-year).
- 2022: Revenue of $1.1M, expenses of $845K, and assets of $3.4M (revenue +14.5% year-over-year).
- 2021: Revenue of $929K, expenses of $595K, and assets of $3.7M (revenue -14.4% year-over-year).
- 2020: Revenue of $1.1M, expenses of $667K, and assets of $2.9M (revenue +3.4% year-over-year).
- 2019: Revenue of $1.0M, expenses of $873K, and assets of $2.5M (revenue +11.5% year-over-year).
- 2018: Revenue of $941K, expenses of $846K, and assets of $2.3M (revenue +0.5% year-over-year).
- 2017: Revenue of $936K, expenses of $810K, and assets of $2.1M (revenue +40.2% year-over-year).
- 2016: Revenue of $668K, expenses of $740K, and assets of $1.9M (revenue -35.3% year-over-year).
- 2015: Revenue of $1.0M, expenses of $708K, and assets of $1.9M (revenue +1.6% year-over-year).
- 2014: Revenue of $1.0M, expenses of $634K, and assets of $1.8M (revenue +48.8% year-over-year).
- 2013: Revenue of $683K, expenses of $594K, and assets of $1.5M (revenue +8.0% year-over-year).
- 2012: Revenue of $633K, expenses of $588K, and assets of $1.4M (revenue -2.0% year-over-year).
- 2011: Revenue of $645K, expenses of $523K, and assets of $1.4M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Bangor Symphony Orchestra:
Data Sources and Methodology
This transparency report for Bangor Symphony Orchestra 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.