Bonney Woods Corp
Bonney Woods Corp shows asset growth despite frequent operating deficits and fluctuating revenue.
EIN: 10360056 · Farmington, ME · NTEE: N32Z · Updated: 2026-03-28
Is Bonney Woods Corp Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Bonney Woods Corp directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Bonney Woods Corp
Bonney Woods Corp (EIN: 10360056) is a nonprofit organization based in Farmington, ME, classified under NTEE code N32Z. The organization reported total revenue of $13K and total assets of $140K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Bonney Woods Corp's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Bonney Woods Corp is a micro nonprofit that has been operating for 31 years, with 9 years of IRS 990 filings on record (2012–2023). Revenue has grown at a compound annual rate of -2.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $14K |
| Total Expenses | $25K |
| Surplus / Deficit | $-11,615 |
| Total Assets | $82K |
| Total Liabilities | $1 |
| Net Assets | $82K |
| Operating Margin | -84.4% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 38.6 months |
Financial Health Grade: B
In 2023, Bonney Woods Corp reported a deficit of $12K with expenses exceeding revenue, holds 38.6 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 9 years of filings (2012–2023), Bonney Woods Corp's revenue has declined at a compound annual growth rate (CAGR) of -2.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +71.8% | +361.1% | -12.5% |
| 2022 | +87.5% | -63.5% | +2.8% |
| 2021 | -56.0% | +46.8% | -10.6% |
| 2020 | +1475.3% | +158.6% | +1.1% |
| 2016 | +36.0% | +175.2% | -3.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1995 |
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 Bonney Woods Corp with a Mission Score of 65 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, Bonney Woods Corp 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 $12K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Bonney Woods Corp consistently reports 0% officer compensation across all available filings, indicating that its executive leadership is likely volunteer-based, which is a positive 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 Bonney Woods Corp's IRS 990 filings:
- Frequent operating deficits (e.g., 2023: $13,763 revenue vs. $25,378 expenses)
- Highly fluctuating revenue streams across years (e.g., $32,559 in 2013 vs. $453 in 2015)
- Limited detailed financial information available to assess program efficiency beyond top-line revenue and expenses.
Strengths
The following positive indicators were identified for Bonney Woods Corp:
- Consistent growth in assets, reaching $139,969 currently from $81,555 in 2023.
- No reported officer compensation, indicating a volunteer-led executive team.
- Consistent IRS 990 filing history, demonstrating basic transparency.
Frequently Asked Questions about Bonney Woods Corp
Is Bonney Woods Corp a legitimate charity?
Based on AI analysis of IRS 990 filings, Bonney Woods Corp (EIN: 10360056) some concerns. Mission Score: 65/100. 3 red flags identified, 3 strengths noted.
How does Bonney Woods Corp spend its money?
Bonney Woods Corp directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Bonney Woods Corp tax-deductible?
Bonney Woods Corp is registered as a tax-exempt nonprofit (EIN: 10360056). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Bonney Woods Corp financially sustainable given its history of operating deficits?
The organization has frequently spent more than it earned, such as in 2023 where expenses ($25,378) significantly outpaced revenue ($13,763). While current assets are $139,969, this pattern raises concerns about long-term financial stability if not addressed.
What are the primary sources of Bonney Woods Corp's revenue, given its fluctuations?
The provided data shows highly variable revenue, from $32,559 in 2013 to $453 in 2015. Without more detailed 990 schedules, it's unclear if this is due to inconsistent grants, donations, or other income streams.
How does Bonney Woods Corp manage its expenses to avoid officer compensation?
The consistent reporting of 0% officer compensation suggests a volunteer-driven leadership model, which helps keep administrative costs low and directs more funds towards the organization's mission.
Filing History
IRS 990 filing history for Bonney Woods Corp showing financial trends over 9 years of public records:
Over 9 years of IRS 990 filings (2012–2023), Bonney Woods Corp's revenue has declined by 25.8%, moving from $19K to $14K. Total assets decreased by 25.2% over the same period, from $109K to $82K. Total functional expenses rose by 86.4%, from $14K to $25K. In its most recent filing year (2023), Bonney Woods Corp reported a deficit of $12K, with expenses exceeding revenue. The organization holds $1 in liabilities against $82K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $82K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $14K | $25K | $82K | $1 | — | — |
| 2022 | $8K | $6K | $93K | $1 | — | View 990 |
| 2021 | $4K | $15K | $91K | $1 | — | View 990 |
| 2020 | $10K | $10K | $101K | $1 | — | View 990 |
| 2016 | $616 | $4K | $100K | $0 | — | View 990 |
| 2015 | $453 | $1K | $104K | $0 | — | View 990 |
| 2014 | $769 | $2K | $105K | $1 | — | View 990 |
| 2013 | $33K | $36K | $106K | $1 | — | View 990 |
| 2012 | $19K | $14K | $109K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $14K, expenses of $25K, and assets of $82K (revenue +71.8% year-over-year).
- 2022: Revenue of $8K, expenses of $6K, and assets of $93K (revenue +87.5% year-over-year).
- 2021: Revenue of $4K, expenses of $15K, and assets of $91K (revenue -56.0% year-over-year).
- 2020: Revenue of $10K, expenses of $10K, and assets of $101K (revenue +1475.3% year-over-year).
- 2016: Revenue of $616, expenses of $4K, and assets of $100K (revenue +36.0% year-over-year).
- 2015: Revenue of $453, expenses of $1K, and assets of $104K (revenue -41.1% year-over-year).
- 2014: Revenue of $769, expenses of $2K, and assets of $105K (revenue -97.6% year-over-year).
- 2013: Revenue of $33K, expenses of $36K, and assets of $106K (revenue +75.6% year-over-year).
- 2012: Revenue of $19K, expenses of $14K, and assets of $109K.
Data Sources and Methodology
This transparency report for Bonney Woods Corp 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.