Bay Chamber Concerts

Is Bay Chamber Concerts Legit?

Appears Legitimate

Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →

Bay Chamber Concerts directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.

About Bay Chamber Concerts

Bay Chamber Concerts (EIN: 16023519) is a nonprofit organization based in Camden, ME, classified under NTEE code A6C0. The organization reported total revenue of $2.7M and total assets of $13.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Bay Chamber Concerts's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Bay Chamber Concerts 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: 10%
• programs: 85%
• fundraising: 5%

According to IRS 990 filings, Bay Chamber Concerts 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.

Executive Compensation Analysis

Bay Chamber Concerts reports 0% officer compensation across all available filings, indicating that no salaries were paid to officers, which is highly unusual for an organization of its size with assets exceeding $9 million. This suggests a strong volunteer leadership model or that compensation is structured in a way not reported as officer compensation on the 990, but it is a positive indicator for directing funds to mission.

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 Bay Chamber Concerts:

• Strong financial health with consistent revenue surpluses (e.g., 2023 revenue $3.78M vs. expenses $1.2M).
• Significant asset growth over recent years (from $2.6M in 2020 to $9.9M in 2023).
• Zero reported officer compensation across all filings, indicating high efficiency or volunteer leadership.
• Low liabilities relative to assets, suggesting strong financial stability.
• Consistent filing history demonstrating transparency and compliance.

Frequently Asked Questions about Bay Chamber Concerts

Filing History

IRS 990 filing history for Bay Chamber Concerts showing financial trends over 13 years of public records:

Over 13 years of IRS 990 filings (2011–2023), Bay Chamber Concerts's revenue has grown by 258%, moving from $1.1M to $3.8M. Total assets increased by 321.9% over the same period, from $2.4M to $10.0M. Total functional expenses rose by 5.1%, from $1.1M to $1.2M. In its most recent filing year (2023), Bay Chamber Concerts reported a surplus of $2.6M, with revenue exceeding expenses. The organization holds $1.1M in liabilities against $10.0M in assets (debt-to-asset ratio: 11.2%), resulting in net assets of $8.9M.

Year-by-Year Financial Summary

• 2023: Revenue of $3.8M, expenses of $1.2M, and assets of $10.0M (revenue -9.3% year-over-year).
• 2022: Revenue of $4.2M, expenses of $1.1M, and assets of $7.3M (revenue +252.7% year-over-year).
• 2021: Revenue of $1.2M, expenses of $756K, and assets of $3.4M (revenue +74.5% year-over-year).
• 2020: Revenue of $677K, expenses of $677K, and assets of $2.6M (revenue -41.2% year-over-year).
• 2019: Revenue of $1.2M, expenses of $1.1M, and assets of $2.7M (revenue -25.2% year-over-year).
• 2018: Revenue of $1.5M, expenses of $1.0M, and assets of $2.7M (revenue +76.0% year-over-year).
• 2017: Revenue of $876K, expenses of $993K, and assets of $2.0M (revenue -16.0% year-over-year).
• 2016: Revenue of $1.0M, expenses of $992K, and assets of $2.1M (revenue +8.1% year-over-year).
• 2015: Revenue of $965K, expenses of $1.1M, and assets of $1.9M (revenue -21.0% year-over-year).
• 2014: Revenue of $1.2M, expenses of $1.0M, and assets of $2.2M (revenue +37.2% year-over-year).
• 2013: Revenue of $890K, expenses of $1.3M, and assets of $1.9M (revenue -11.5% year-over-year).
• 2012: Revenue of $1.0M, expenses of $1.2M, and assets of $2.3M (revenue -4.8% year-over-year).
• 2011: Revenue of $1.1M, expenses of $1.1M, and assets of $2.4M.

Data Sources and Methodology

This transparency report for Bay Chamber Concerts 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.