Bonnell Cove Foundation

Bonnell Cove Foundation maintains strong asset base despite recent minor operating deficits.

EIN: 133556721 · Camden, ME · Updated: 2026-03-28

$89KRevenue

$1.6MAssets

85/100Mission Score (Excellent)

Is Bonnell Cove Foundation Legit?

Some Concerns

GoodFiling Consistency

ExcellentSpending Efficiency

GoodTransparency

1 FoundRed Flags

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

Bonnell Cove Foundation directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.

About Bonnell Cove Foundation

Bonnell Cove Foundation (EIN: 133556721) is a nonprofit organization based in Camden, ME. The organization reported total revenue of $89K and total assets of $1.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Bonnell Cove Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

The Bonnell Cove Foundation demonstrates consistent financial stability with a strong asset base, currently at $1,594,483. While recent years (2022 and 2023) show expenses slightly exceeding revenue, with a deficit of $5,657 in 2022 and $3,074 in 2023, the organization's substantial assets provide a significant buffer. The foundation's revenue has fluctuated over the years, peaking at $326,900 in 2015, but has generally remained in the $50,000-$100,000 range in more recent periods. The consistent reporting of $1 in liabilities across all filings suggests a very low debt burden, indicating sound financial management in that regard.

The organization's transparency appears high, with a consistent filing history and no reported officer compensation, which can be a positive indicator of resources being directed towards the mission rather than executive salaries. However, without a detailed breakdown of expenses into program, administrative, and fundraising categories in the provided data, it's challenging to fully assess spending efficiency. The NTEE code being unknown also limits the ability to benchmark against similar organizations.

Overall, the Bonnell Cove Foundation appears to be a financially stable organization with a strong asset base and a history of consistent IRS filings. The lack of officer compensation is a notable positive for transparency and resource allocation. Further detail on expense allocation would enhance the assessment of spending efficiency.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Bonnell Cove Foundation 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, Bonnell Cove Foundation 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.

Executive Compensation Analysis

The Bonnell Cove Foundation consistently reports 0% officer compensation across all available filings, indicating that no executive salaries are paid, which is highly favorable for resource allocation to its 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.

Red Flags

The following concerns were identified during AI analysis of Bonnell Cove Foundation's IRS 990 filings:

Expenses exceeded revenue in 2022 and 2023, indicating minor operating deficits ($5,657 and $3,074 respectively).

Strengths

The following positive indicators were identified for Bonnell Cove Foundation:

Strong and growing asset base, currently at $1,594,483, providing long-term stability.
Consistently reports 0% officer compensation, ensuring resources are directed to the mission.
Minimal liabilities ($1 across all filings) indicates excellent debt management.
Consistent IRS 990 filing history demonstrates good transparency and compliance.
Significant asset growth over the decade, from $840,721 in 2011 to $1,594,483 currently.

Frequently Asked Questions about Bonnell Cove Foundation

Is Bonnell Cove Foundation a legitimate charity?

Based on AI analysis of IRS 990 filings, Bonnell Cove Foundation (EIN: 133556721) some concerns. Mission Score: 85/100. 1 red flag identified, 5 strengths noted.

How does Bonnell Cove Foundation spend its money?

Bonnell Cove Foundation directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.

Are donations to Bonnell Cove Foundation tax-deductible?

Bonnell Cove Foundation is registered as a tax-exempt nonprofit (EIN: 133556721). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.

Is Bonnell Cove Foundation financially stable?

Yes, the Bonnell Cove Foundation is financially stable, evidenced by its substantial assets of $1,594,483 and minimal liabilities of $1 across all reported periods, despite minor operating deficits in the last two years.

Does Bonnell Cove Foundation pay its officers?

No, the Bonnell Cove Foundation consistently reports 0% officer compensation in all available IRS 990 filings.

How has Bonnell Cove Foundation's revenue trended?

The foundation's revenue has fluctuated, with a peak of $326,900 in 2015, but has generally been in the range of $50,000 to $100,000 in recent years, with the latest reported revenue at $102,658 in 2023.

Filing History

IRS 990 filing history for Bonnell Cove Foundation showing financial trends over 10 years of public records:

Over 10 years of IRS 990 filings (2011–2023), Bonnell Cove Foundation's revenue has declined by 23.1%, moving from $133K to $103K. Total assets increased by 72.5% over the same period, from $841K to $1.4M. Total functional expenses rose by 94.1%, from $54K to $106K. In its most recent filing year (2023), Bonnell Cove Foundation reported a deficit of $3K, with expenses exceeding revenue. The organization holds $1 in liabilities against $1.4M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $1.4M.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$103K	$106K	$1.4M	$1	—	—
2022	$92K	$97K	$1.3M	$1	—	—
2021	$91K	$73K	$1.6M	$1	—	View 990
2020	$57K	$77K	$1.4M	$1	—	—
2019	$53K	$86K	$1.3M	$1	—	View 990
2015	$327K	$82K	$1.1M	$1	—	View 990
2014	$86K	$70K	$1.1M	$1	—	View 990
2013	$82K	$49K	$1.1M	$1	—	View 990
2012	$71K	$42K	$930K	$1	—	View 990
2011	$133K	$54K	$841K	$1	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $103K, expenses of $106K, and assets of $1.4M (revenue +12.1% year-over-year).
2022: Revenue of $92K, expenses of $97K, and assets of $1.3M (revenue +0.1% year-over-year).
2021: Revenue of $91K, expenses of $73K, and assets of $1.6M (revenue +61.0% year-over-year).
2020: Revenue of $57K, expenses of $77K, and assets of $1.4M (revenue +6.7% year-over-year).
2019: Revenue of $53K, expenses of $86K, and assets of $1.3M (revenue -83.7% year-over-year).
2015: Revenue of $327K, expenses of $82K, and assets of $1.1M (revenue +280.8% year-over-year).
2014: Revenue of $86K, expenses of $70K, and assets of $1.1M (revenue +5.0% year-over-year).
2013: Revenue of $82K, expenses of $49K, and assets of $1.1M (revenue +15.8% year-over-year).
2012: Revenue of $71K, expenses of $42K, and assets of $930K (revenue -47.1% year-over-year).
2011: Revenue of $133K, expenses of $54K, and assets of $841K.

Data Sources and Methodology

This transparency report for Bonnell Cove 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.