Belfast Chamber Of Commerce
Belfast Chamber Of Commerce maintains stable finances with consistent surpluses and no reported officer compensation.
EIN: 10318746 · Belfast, ME · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $306K |
| Total Expenses | $242K |
| Program Spending | 80% |
| Net Assets | $213K |
| Transparency Score | 85/100 |
Is Belfast 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 →
Belfast Chamber Of Commerce directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Belfast Chamber Of Commerce
Belfast Chamber Of Commerce (EIN: 10318746) is a nonprofit organization based in Belfast, ME. The organization reported total revenue of $306K and total assets of $242K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Belfast Chamber Of Commerce's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Belfast Chamber Of Commerce is a small nonprofit that has been operating for 52 years, with 14 years of IRS 990 filings on record (2010–2023). Revenue has grown at a compound annual rate of 4.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $269K |
| Total Expenses | $242K |
| Surplus / Deficit | +$28K |
| Total Assets | $216K |
| Total Liabilities | $3K |
| Net Assets | $213K |
| Operating Margin | 10.2% |
| Debt-to-Asset Ratio | 1.6% |
| Months of Reserves | 10.7 months |
Financial Health Grade: A
In 2023, Belfast Chamber Of Commerce reported a surplus of $28K with revenue exceeding expenses, holds 10.7 months of operating reserves (strong position), has a debt-to-asset ratio of 1.6% (very low leverage).
Financial Trends
Over 14 years of filings (2010–2023), Belfast Chamber Of Commerce's revenue has grown at a compound annual growth rate (CAGR) of 4.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +25.1% | +15.5% | +15.9% |
| 2022 | +2.3% | +0.4% | -2.3% |
| 2021 | +11.0% | +26.3% | +13.2% |
| 2020 | -18.1% | -31.8% | +16.4% |
| 2019 | +6.7% | -1.1% | -6.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 3000 |
| IRS Ruling Date | 1974 |
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 Belfast Chamber Of Commerce with a Mission Score of 85 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, Belfast 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 surplus of $28K, with revenue exceeding expenses.
- Debt-to-asset ratio: 1.6%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that officers are not directly compensated or are compensated through non-officer roles, which is highly unusual for an organization of this size and suggests a volunteer-driven leadership structure.
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 Belfast Chamber Of Commerce's IRS 990 filings:
- NTEE Code is unknown, which can make it harder to benchmark against similar organizations.
Strengths
The following positive indicators were identified for Belfast Chamber Of Commerce:
- Consistent financial surpluses in recent years (e.g., $27,516 in 2023, $5,900 in 2022).
- 0% reported officer compensation across all filings, indicating a highly volunteer-driven or efficient leadership model.
- Steady growth in assets over the past decade, from $81,529 in 2014 to $215,968 in 2023.
- Very low liabilities relative to assets and revenue, indicating strong financial stability.
- Consistent IRS 990 filing history (14 filings), demonstrating good transparency.
Frequently Asked Questions about Belfast Chamber Of Commerce
Is Belfast Chamber Of Commerce a legitimate charity?
Belfast Chamber Of Commerce (EIN: 10318746) is a registered tax-exempt nonprofit based in Maine. Our AI analysis gives it a Mission Score of 85/100. It has 14 years of IRS 990 filings on record. Total revenue: $306K. 1 red flag identified. 5 strengths noted. Financial health grade: A.
How does Belfast Chamber Of Commerce spend its money?
Belfast Chamber Of Commerce directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Belfast Chamber Of Commerce tax-deductible?
Belfast Chamber Of Commerce is registered as a tax-exempt nonprofit (EIN: 10318746). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Belfast Chamber Of Commerce's spending goes to programs?
Belfast Chamber Of Commerce directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Belfast Chamber Of Commerce located?
Belfast Chamber Of Commerce is headquartered in Belfast, Maine and files with the IRS under EIN 10318746.
How many years of IRS 990 filings does Belfast Chamber Of Commerce have?
Belfast Chamber Of Commerce has 14 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 $306K in total revenue.
Is Belfast Chamber Of Commerce a good charity?
Based on the available financial data, the Belfast Chamber Of Commerce appears to be a well-managed organization with stable finances, consistent surpluses, and a notable lack of reported officer compensation, suggesting a strong commitment to its mission and efficient use of resources. Its low liabilities and growing assets also point to financial health.
How has the organization's revenue trended over the past few years?
The organization's revenue has shown an upward trend in recent years, increasing from $189,649 in 2020 to $269,397 in 2023, indicating growing financial support or activity.
What is the organization's asset growth like?
Assets have consistently grown, from $81,529 in 2014 to $215,968 in 2023, demonstrating a healthy accumulation of resources over time.
Filing History
IRS 990 filing history for Belfast Chamber Of Commerce showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2010–2023), Belfast Chamber Of Commerce's revenue has grown by 74.9%, moving from $154K to $269K. Total assets increased by 1329% over the same period, from $15K to $216K. Total functional expenses rose by 34.8%, from $179K to $242K. In its most recent filing year (2023), Belfast Chamber Of Commerce reported a surplus of $28K, with revenue exceeding expenses. The organization holds $3K in liabilities against $216K in assets (debt-to-asset ratio: 1.6%), resulting in net assets of $213K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $269K | $242K | $216K | $3K | — | — |
| 2022 | $215K | $209K | $186K | $3K | — | View 990 |
| 2021 | $210K | $209K | $191K | $3K | — | View 990 |
| 2020 | $190K | $165K | $168K | $2K | — | View 990 |
| 2019 | $231K | $242K | $145K | $2K | — | View 990 |
| 2018 | $217K | $245K | $155K | $2K | — | View 990 |
| 2017 | $218K | $200K | $184K | $3K | — | View 990 |
| 2016 | $229K | $192K | $165K | $2K | — | View 990 |
| 2015 | $211K | $167K | $128K | $2K | — | View 990 |
| 2014 | $201K | $177K | $82K | $0 | — | View 990 |
| 2013 | $165K | $150K | $59K | $1K | — | View 990 |
| 2012 | $144K | $126K | $44K | $2K | — | View 990 |
| 2011 | $200K | $179K | $32K | $8K | — | View 990 |
| 2010 | $154K | $179K | $15K | $12K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $269K, expenses of $242K, and assets of $216K (revenue +25.1% year-over-year).
- 2022: Revenue of $215K, expenses of $209K, and assets of $186K (revenue +2.3% year-over-year).
- 2021: Revenue of $210K, expenses of $209K, and assets of $191K (revenue +11.0% year-over-year).
- 2020: Revenue of $190K, expenses of $165K, and assets of $168K (revenue -18.1% year-over-year).
- 2019: Revenue of $231K, expenses of $242K, and assets of $145K (revenue +6.7% year-over-year).
- 2018: Revenue of $217K, expenses of $245K, and assets of $155K (revenue -0.6% year-over-year).
- 2017: Revenue of $218K, expenses of $200K, and assets of $184K (revenue -4.7% year-over-year).
- 2016: Revenue of $229K, expenses of $192K, and assets of $165K (revenue +8.8% year-over-year).
- 2015: Revenue of $211K, expenses of $167K, and assets of $128K (revenue +4.9% year-over-year).
- 2014: Revenue of $201K, expenses of $177K, and assets of $82K (revenue +21.6% year-over-year).
- 2013: Revenue of $165K, expenses of $150K, and assets of $59K (revenue +14.3% year-over-year).
- 2012: Revenue of $144K, expenses of $126K, and assets of $44K (revenue -27.8% year-over-year).
- 2011: Revenue of $200K, expenses of $179K, and assets of $32K (revenue +29.9% year-over-year).
- 2010: Revenue of $154K, expenses of $179K, and assets of $15K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Belfast Chamber Of Commerce:
Data Sources and Methodology
This transparency report for Belfast 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.