Barbara Cassidy Foundation
Barbara Cassidy Foundation consistently operates at a deficit, with declining assets and increasing liabilities over the past decade.
EIN: 16162463 · Biddeford, ME · NTEE: T22 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $5.0M |
| Total Expenses | $272K |
| Program Spending | 75% |
| Net Assets | $1.8M |
| Transparency Score | 45/100 |
Is Barbara Cassidy Foundation Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Barbara Cassidy Foundation directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Barbara Cassidy Foundation
Barbara Cassidy Foundation (EIN: 16162463) is a nonprofit organization based in Biddeford, ME, classified under NTEE code T22. The organization reported total revenue of $5.0M and total assets of $4.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Barbara Cassidy Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Barbara Cassidy Foundation is a mid-size nonprofit that has been operating for 17 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 4.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $126K |
| Total Expenses | $272K |
| Surplus / Deficit | $-145,775 |
| Total Assets | $1.8M |
| Total Liabilities | $1K |
| Net Assets | $1.8M |
| Operating Margin | -115.8% |
| Debt-to-Asset Ratio | 0.1% |
| Months of Reserves | 78.4 months |
Financial Health Grade: B
In 2023, Barbara Cassidy Foundation reported a deficit of $146K with expenses exceeding revenue, holds 78.4 months of operating reserves (strong position), has a debt-to-asset ratio of 0.1% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), Barbara Cassidy Foundation's revenue has grown at a compound annual growth rate (CAGR) of 4.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +52.5% | +0.1% | -7.9% |
| 2022 | -76.2% | +9.8% | -9.0% |
| 2021 | +136.4% | +16.0% | +5.1% |
| 2020 | +36.1% | +5.2% | -3.2% |
| 2019 | +73.4% | +13.2% | +3.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2009 |
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 Barbara Cassidy Foundation with a Mission Score of 45 out of 100 (Fair). 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: 75%
- fundraising: 10%
According to IRS 990 filings, Barbara Cassidy Foundation allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% 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 $146K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.1%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, suggesting that leadership roles may be voluntary or compensated through other means not explicitly categorized as officer compensation, which could affect 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 Barbara Cassidy Foundation's IRS 990 filings:
- Consistent historical operating deficits (e.g., $125,843 revenue vs. $271,618 expenses in 2023).
- Declining asset base over the past decade (from $2.25M in 2011 to $1.77M in 2023).
- Significant increase in liabilities in 2023 ($1,338,000) compared to prior years (often less than $5,000).
- Lack of reported officer compensation, which could obscure leadership costs or indicate a reliance on unpaid leadership.
- Latest revenue of $5,030,493 is an extreme outlier compared to historical trends, requiring further scrutiny for sustainability.
Strengths
The following positive indicators were identified for Barbara Cassidy Foundation:
- No reported officer compensation, potentially indicating a volunteer-driven leadership or efficient use of funds in that area (though also a transparency concern).
Frequently Asked Questions about Barbara Cassidy Foundation
Is Barbara Cassidy Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Barbara Cassidy Foundation (EIN: 16162463) significant concerns. Mission Score: 45/100. 5 red flags identified, 1 strength noted.
How does Barbara Cassidy Foundation spend its money?
Barbara Cassidy Foundation directs 75% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Barbara Cassidy Foundation tax-deductible?
Barbara Cassidy Foundation is registered as a tax-exempt nonprofit (EIN: 16162463). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Barbara Cassidy Foundation's spending goes to programs?
Barbara Cassidy Foundation directs 75% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Barbara Cassidy Foundation compare to similar nonprofits?
With a transparency score of 45/100 (Fair), Barbara Cassidy Foundation is near average for NTEE category T22 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Barbara Cassidy Foundation located?
Barbara Cassidy Foundation is headquartered in Biddeford, Maine and files with the IRS under EIN 16162463. It is classified under NTEE code T22.
How many years of IRS 990 filings does Barbara Cassidy Foundation have?
Barbara Cassidy Foundation 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 $5.0M in total revenue.
How does the Barbara Cassidy Foundation sustain operations given its consistent historical operating deficits?
The foundation has consistently spent more than its revenue, for example, $271,618 in expenses against $125,843 in revenue in 2023. This suggests it may be drawing down on its asset base or relying on infrequent large contributions, though the asset base has also been declining.
What is the nature of the $5,030,493 latest revenue, and is it a sustainable funding source?
This latest revenue figure is significantly higher than any reported in the past decade, which typically ranged from $60,000 to $350,000. Without further detail, it's unclear if this represents a one-time large donation, an investment gain, or a new, sustainable funding stream.
Why has the organization's asset base declined from over $2.2 million in 2011 to $1.77 million in 2023?
The consistent operating deficits, where expenses frequently exceed revenue, likely contribute to the gradual depletion of the organization's assets over time.
Are there any plans to address the increasing liabilities, which reached $1,338,000 in 2023?
The significant jump in liabilities in 2023, from minimal amounts in prior years, is a major concern. The filings do not provide details on the nature of these liabilities or how the organization plans to manage them.
Filing History
IRS 990 filing history for Barbara Cassidy Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Barbara Cassidy Foundation's revenue has grown by 59.7%, moving from $79K to $126K. Total assets decreased by 21.3% over the same period, from $2.3M to $1.8M. Total functional expenses rose by 95.1%, from $139K to $272K. In its most recent filing year (2023), Barbara Cassidy Foundation reported a deficit of $146K, with expenses exceeding revenue. The organization holds $1K in liabilities against $1.8M in assets (debt-to-asset ratio: 0.1%), resulting in net assets of $1.8M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $126K | $272K | $1.8M | $1K | — | — |
| 2022 | $83K | $271K | $1.9M | $5K | — | View 990 |
| 2021 | $346K | $247K | $2.1M | $3K | — | View 990 |
| 2020 | $146K | $213K | $2.0M | $492 | — | — |
| 2019 | $108K | $202K | $2.1M | $132 | — | View 990 |
| 2015 | $62K | $179K | $2.0M | $1 | — | View 990 |
| 2014 | $140K | $167K | $2.1M | $1 | — | View 990 |
| 2013 | $61K | $155K | $2.2M | $0 | — | View 990 |
| 2012 | $151K | $151K | $2.3M | $0 | — | View 990 |
| 2011 | $79K | $139K | $2.3M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $126K, expenses of $272K, and assets of $1.8M (revenue +52.5% year-over-year).
- 2022: Revenue of $83K, expenses of $271K, and assets of $1.9M (revenue -76.2% year-over-year).
- 2021: Revenue of $346K, expenses of $247K, and assets of $2.1M (revenue +136.4% year-over-year).
- 2020: Revenue of $146K, expenses of $213K, and assets of $2.0M (revenue +36.1% year-over-year).
- 2019: Revenue of $108K, expenses of $202K, and assets of $2.1M (revenue +73.4% year-over-year).
- 2015: Revenue of $62K, expenses of $179K, and assets of $2.0M (revenue -55.6% year-over-year).
- 2014: Revenue of $140K, expenses of $167K, and assets of $2.1M (revenue +128.0% year-over-year).
- 2013: Revenue of $61K, expenses of $155K, and assets of $2.2M (revenue -59.4% year-over-year).
- 2012: Revenue of $151K, expenses of $151K, and assets of $2.3M (revenue +91.7% year-over-year).
- 2011: Revenue of $79K, expenses of $139K, and assets of $2.3M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Barbara Cassidy Foundation:
Data Sources and Methodology
This transparency report for Barbara Cassidy Foundation 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.