Bar Harbor Chamber Of Commerce
Bar Harbor Chamber of Commerce maintains stable assets with fluctuating revenues and no reported officer compensation.
EIN: 10262638 · Bar Harbor, ME · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $721K |
| Total Expenses | $645K |
| Program Spending | 80% |
| Net Assets | $597K |
| Transparency Score | 75/100 |
Is Bar Harbor Chamber Of Commerce Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Bar Harbor Chamber Of Commerce directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Bar Harbor Chamber Of Commerce
Bar Harbor Chamber Of Commerce (EIN: 10262638) is a nonprofit organization based in Bar Harbor, ME. The organization reported total revenue of $721K and total assets of $557K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Bar Harbor Chamber Of Commerce's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Bar Harbor Chamber Of Commerce is a small nonprofit that has been operating for 54 years, with 13 years of IRS 990 filings on record (2012–2023). Revenue has grown at a compound annual rate of -2.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $631K |
| Total Expenses | $645K |
| Surplus / Deficit | $-13,799 |
| Total Assets | $613K |
| Total Liabilities | $15K |
| Net Assets | $597K |
| Operating Margin | -2.2% |
| Debt-to-Asset Ratio | 2.5% |
| Months of Reserves | 11.4 months |
Financial Health Grade: B
In 2023, Bar Harbor Chamber Of Commerce reported a deficit of $14K with expenses exceeding revenue, holds 11.4 months of operating reserves (strong position), has a debt-to-asset ratio of 2.5% (very low leverage).
Financial Trends
Over 13 years of filings (2012–2023), Bar Harbor Chamber Of Commerce's revenue has declined at a compound annual growth rate (CAGR) of -2.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -7.7% | +3.9% | -2.3% |
| 2022 | +2.9% | +27.2% | -11.6% |
| 2021 | +68.1% | -20.6% | +22.6% |
| 2020 | -52.2% | -21.9% | -46.8% |
| 2019 | +0.1% | -9.3% | +2.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 3000 |
| IRS Ruling Date | 1972 |
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 Bar Harbor Chamber Of Commerce 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: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Bar Harbor Chamber Of Commerce 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 $14K, with expenses exceeding revenue.
- Debt-to-asset ratio: 2.5%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation in its IRS 990 filings, which suggests either that no officers receive compensation or that it is reported under a different category, warranting further investigation for full transparency.
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 Bar Harbor Chamber Of Commerce's IRS 990 filings:
- Fluctuating revenue with occasional deficit spending (e.g., 2023, 2020, 2018, 2017, 201706)
- Lack of detailed breakdown for officer compensation (reported as 0% across all filings, which may warrant further scrutiny)
Strengths
The following positive indicators were identified for Bar Harbor Chamber Of Commerce:
- Strong asset-to-liability ratio, indicating financial stability (e.g., 2023 assets $612,818 vs. liabilities $15,397)
- Consistent filing of IRS 990s, demonstrating transparency in reporting
- Maintained significant assets even during periods of lower revenue or higher expenses
Frequently Asked Questions about Bar Harbor Chamber Of Commerce
Is Bar Harbor Chamber Of Commerce a legitimate charity?
Bar Harbor Chamber Of Commerce (EIN: 10262638) is a registered tax-exempt nonprofit based in Maine. Our AI analysis gives it a Mission Score of 75/100. It has 13 years of IRS 990 filings on record. Total revenue: $721K. 2 red flags identified. 3 strengths noted. Financial health grade: B.
How does Bar Harbor Chamber Of Commerce spend its money?
Bar Harbor Chamber Of Commerce directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Bar Harbor Chamber Of Commerce tax-deductible?
Bar Harbor Chamber Of Commerce is registered as a tax-exempt nonprofit (EIN: 10262638). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Bar Harbor Chamber Of Commerce's spending goes to programs?
Bar Harbor Chamber Of Commerce directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Bar Harbor Chamber Of Commerce located?
Bar Harbor Chamber Of Commerce is headquartered in Bar Harbor, Maine and files with the IRS under EIN 10262638.
How many years of IRS 990 filings does Bar Harbor Chamber Of Commerce have?
Bar Harbor Chamber Of Commerce 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 $721K in total revenue.
What is the primary source of revenue for the Bar Harbor Chamber Of Commerce?
The IRS 990 data shows fluctuating revenues, but does not specify the breakdown of revenue sources (e.g., membership dues, event fees, grants). Further detail would be needed to answer this.
How does the Bar Harbor Chamber Of Commerce manage periods of deficit spending, such as in 2023?
In 2023, expenses ($645,031) slightly exceeded revenue ($631,232). The organization likely covers these shortfalls using its accumulated assets, which were $612,818 at the end of 2023, or through reserves.
Is the 0% officer compensation reported accurate, or is compensation reported elsewhere?
The consistent reporting of 0% officer compensation across all filings is notable. It could mean that officers are volunteers, or their compensation is categorized differently within the 990, requiring a deeper dive into the full filing to confirm.
Filing History
IRS 990 filing history for Bar Harbor Chamber Of Commerce showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2012–2023), Bar Harbor Chamber Of Commerce's revenue has declined by 22.2%, moving from $811K to $631K. Total assets decreased by 33.3% over the same period, from $918K to $613K. Total functional expenses fell by 18.6%, from $792K to $645K. In its most recent filing year (2023), Bar Harbor Chamber Of Commerce reported a deficit of $14K, with expenses exceeding revenue. The organization holds $15K in liabilities against $613K in assets (debt-to-asset ratio: 2.5%), resulting in net assets of $597K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $631K | $645K | $613K | $15K | — | — |
| 2022 | $684K | $621K | $628K | $16K | — | View 990 |
| 2021 | $665K | $488K | $710K | $162K | — | View 990 |
| 2020 | $396K | $614K | $579K | $208K | — | View 990 |
| 2019 | $828K | $786K | $1.1M | $499K | — | View 990 |
| 2018 | $826K | $867K | $1.1M | $518K | — | View 990 |
| 2017 | $695K | $443K | $1.1M | $547K | — | View 990 |
| 2017 | $759K | $876K | $918K | $582K | — | View 990 |
| 2016 | $882K | $854K | $1.1M | $596K | — | View 990 |
| 2015 | $1.2M | $1.1M | $1.1M | $658K | — | View 990 |
| 2014 | $885K | $843K | $1.0M | $659K | — | View 990 |
| 2013 | $843K | $803K | $953K | $651K | — | View 990 |
| 2012 | $811K | $792K | $918K | $657K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $631K, expenses of $645K, and assets of $613K (revenue -7.7% year-over-year).
- 2022: Revenue of $684K, expenses of $621K, and assets of $628K (revenue +2.9% year-over-year).
- 2021: Revenue of $665K, expenses of $488K, and assets of $710K (revenue +68.1% year-over-year).
- 2020: Revenue of $396K, expenses of $614K, and assets of $579K (revenue -52.2% year-over-year).
- 2019: Revenue of $828K, expenses of $786K, and assets of $1.1M (revenue +0.1% year-over-year).
- 2018: Revenue of $826K, expenses of $867K, and assets of $1.1M (revenue +18.9% year-over-year).
- 2017: Revenue of $695K, expenses of $443K, and assets of $1.1M (revenue -8.4% year-over-year).
- 2017: Revenue of $759K, expenses of $876K, and assets of $918K (revenue -14.0% year-over-year).
- 2016: Revenue of $882K, expenses of $854K, and assets of $1.1M (revenue -27.0% year-over-year).
- 2015: Revenue of $1.2M, expenses of $1.1M, and assets of $1.1M (revenue +36.6% year-over-year).
- 2014: Revenue of $885K, expenses of $843K, and assets of $1.0M (revenue +4.9% year-over-year).
- 2013: Revenue of $843K, expenses of $803K, and assets of $953K (revenue +4.0% year-over-year).
- 2012: Revenue of $811K, expenses of $792K, and assets of $918K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Bar Harbor Chamber Of Commerce:
Data Sources and Methodology
This transparency report for Bar Harbor Chamber Of Commerce 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.