Boothbay Harbor Region Chamber Of Commerce
Boothbay Harbor Region Chamber Of Commerce maintains stable assets and reports no officer compensation.
EIN: 10220724 · Boothbay Hbr, ME · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $346K |
| Total Expenses | $309K |
| Program Spending | 70% |
| Net Assets | $245K |
| Transparency Score | 85/100 |
Is Boothbay Harbor Region 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 →
Boothbay Harbor Region Chamber Of Commerce directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Boothbay Harbor Region Chamber Of Commerce
Boothbay Harbor Region Chamber Of Commerce (EIN: 10220724) is a nonprofit organization based in Boothbay Hbr, ME. The organization reported total revenue of $346K and total assets of $476K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Boothbay Harbor Region Chamber Of Commerce's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Boothbay Harbor Region Chamber Of Commerce is a small nonprofit that has been operating for 62 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -3.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $296K |
| Total Expenses | $309K |
| Surplus / Deficit | $-12,572 |
| Total Assets | $448K |
| Total Liabilities | $203K |
| Net Assets | $245K |
| Operating Margin | -4.2% |
| Debt-to-Asset Ratio | 45.3% |
| Months of Reserves | 17.4 months |
Financial Health Grade: B
In 2023, Boothbay Harbor Region Chamber Of Commerce reported a deficit of $13K with expenses exceeding revenue, holds 17.4 months of operating reserves (strong position), has a debt-to-asset ratio of 45.3% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), Boothbay Harbor Region Chamber Of Commerce's revenue has declined at a compound annual growth rate (CAGR) of -3.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -24.8% | +10.5% | -7.3% |
| 2022 | +12.0% | +8.2% | +17.6% |
| 2021 | +86.2% | +18.0% | -4.0% |
| 2020 | -38.2% | -21.1% | +25.4% |
| 2019 | -3.8% | -13.3% | -36.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 3000 |
| IRS Ruling Date | 1964 |
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 Boothbay Harbor Region 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: 20%
- programs: 70%
- fundraising: 10%
According to IRS 990 filings, Boothbay Harbor Region Chamber Of Commerce allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $13K, with expenses exceeding revenue.
- Debt-to-asset ratio: 45.3%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that its leadership is either entirely volunteer or compensated through non-officer categories, which is a positive sign for resource allocation.
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 Boothbay Harbor Region Chamber Of Commerce's IRS 990 filings:
- Occasional operating deficits, such as in 202310 where expenses ($308,797) exceeded revenue ($296,225).
Strengths
The following positive indicators were identified for Boothbay Harbor Region Chamber Of Commerce:
- Consistent reporting of 0% officer compensation across all filings.
- Healthy asset-to-liability ratio, with assets consistently higher than liabilities (e.g., $448,289 assets vs. $202,955 liabilities in 202310).
- Long history of IRS 990 filings (13 filings), indicating transparency and compliance.
Frequently Asked Questions about Boothbay Harbor Region Chamber Of Commerce
Is Boothbay Harbor Region Chamber Of Commerce a legitimate charity?
Boothbay Harbor Region Chamber Of Commerce (EIN: 10220724) is a registered tax-exempt nonprofit based in Maine. Our AI analysis gives it a Mission Score of 85/100. It has 13 years of IRS 990 filings on record. Total revenue: $346K. 1 red flag identified. 3 strengths noted. Financial health grade: B.
How does Boothbay Harbor Region Chamber Of Commerce spend its money?
Boothbay Harbor Region Chamber Of Commerce directs 70% of its spending to programs and services. Fundraising costs 10%. This meets the 65% industry benchmark.
Are donations to Boothbay Harbor Region Chamber Of Commerce tax-deductible?
Boothbay Harbor Region Chamber Of Commerce is registered as a tax-exempt nonprofit (EIN: 10220724). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Boothbay Harbor Region Chamber Of Commerce's spending goes to programs?
Boothbay Harbor Region Chamber Of Commerce directs 70% to programs, 10% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
Where is Boothbay Harbor Region Chamber Of Commerce located?
Boothbay Harbor Region Chamber Of Commerce is headquartered in Boothbay Hbr, Maine and files with the IRS under EIN 10220724.
How many years of IRS 990 filings does Boothbay Harbor Region Chamber Of Commerce have?
Boothbay Harbor Region Chamber Of Commerce has 13 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 $346K in total revenue.
Is Boothbay Harbor Region Chamber Of Commerce financially stable?
Yes, the organization generally appears financially stable, with assets consistently exceeding liabilities. For example, in 202310, assets were $448,289 against liabilities of $202,955.
Does Boothbay Harbor Region Chamber Of Commerce pay its officers?
According to all available IRS 990 filings, Boothbay Harbor Region Chamber Of Commerce reports 0% officer compensation.
Has the organization experienced significant deficits recently?
The organization experienced a slight deficit in 202310 (expenses exceeded revenue by $12,572) and in 202010, but showed surpluses in other recent years like 202210.
Filing History
IRS 990 filing history for Boothbay Harbor Region Chamber Of Commerce showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Boothbay Harbor Region Chamber Of Commerce's revenue has declined by 31.1%, moving from $430K to $296K. Total assets decreased by 38.1% over the same period, from $724K to $448K. Total functional expenses fell by 28.7%, from $433K to $309K. In its most recent filing year (2023), Boothbay Harbor Region Chamber Of Commerce reported a deficit of $13K, with expenses exceeding revenue. The organization holds $203K in liabilities against $448K in assets (debt-to-asset ratio: 45.3%), resulting in net assets of $245K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $296K | $309K | $448K | $203K | — | — |
| 2022 | $394K | $279K | $483K | $158K | — | — |
| 2021 | $352K | $258K | $411K | $175K | — | View 990 |
| 2020 | $189K | $219K | $428K | $293K | — | — |
| 2019 | $306K | $278K | $342K | $176K | — | View 990 |
| 2018 | $318K | $320K | $540K | $403K | — | View 990 |
| 2017 | $293K | $300K | $451K | $312K | — | — |
| 2016 | $449K | $434K | $540K | $395K | — | View 990 |
| 2015 | $452K | $462K | $556K | $426K | — | View 990 |
| 2014 | $449K | $463K | $597K | $458K | — | View 990 |
| 2013 | $472K | $478K | $655K | $434K | — | View 990 |
| 2012 | $417K | $420K | $660K | $201K | — | View 990 |
| 2011 | $430K | $433K | $724K | $453K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $296K, expenses of $309K, and assets of $448K (revenue -24.8% year-over-year).
- 2022: Revenue of $394K, expenses of $279K, and assets of $483K (revenue +12.0% year-over-year).
- 2021: Revenue of $352K, expenses of $258K, and assets of $411K (revenue +86.2% year-over-year).
- 2020: Revenue of $189K, expenses of $219K, and assets of $428K (revenue -38.2% year-over-year).
- 2019: Revenue of $306K, expenses of $278K, and assets of $342K (revenue -3.8% year-over-year).
- 2018: Revenue of $318K, expenses of $320K, and assets of $540K (revenue +8.5% year-over-year).
- 2017: Revenue of $293K, expenses of $300K, and assets of $451K (revenue -34.7% year-over-year).
- 2016: Revenue of $449K, expenses of $434K, and assets of $540K (revenue -0.5% year-over-year).
- 2015: Revenue of $452K, expenses of $462K, and assets of $556K (revenue +0.7% year-over-year).
- 2014: Revenue of $449K, expenses of $463K, and assets of $597K (revenue -5.0% year-over-year).
- 2013: Revenue of $472K, expenses of $478K, and assets of $655K (revenue +13.2% year-over-year).
- 2012: Revenue of $417K, expenses of $420K, and assets of $660K (revenue -2.9% year-over-year).
- 2011: Revenue of $430K, expenses of $433K, and assets of $724K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Boothbay Harbor Region Chamber Of Commerce:
Data Sources and Methodology
This transparency report for Boothbay Harbor Region 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.