Boothbay Region Art Foundation Inc
Boothbay Region Art Foundation Inc. operates debt-free with fluctuating but generally balanced revenues and expenses, and no officer compensation.
EIN: 16019124 · Boothbay Harbor, ME · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $174K |
| Total Expenses | $73K |
| Program Spending | 85% |
| Net Assets | $44K |
| Transparency Score | 85/100 |
Is Boothbay Region Art Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Boothbay Region Art Foundation Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Boothbay Region Art Foundation Inc
Boothbay Region Art Foundation Inc (EIN: 16019124) is a nonprofit organization based in Boothbay Harbor, ME. The organization reported total revenue of $174K and total assets of $35K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Boothbay Region Art Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Boothbay Region Art Foundation Inc 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 1.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $68K |
| Total Expenses | $73K |
| Surplus / Deficit | $-5,186 |
| Total Assets | $44K |
| Net Assets | $44K |
| Operating Margin | -7.6% |
| Months of Reserves | 7.1 months |
Financial Health Grade: B
In 2023, Boothbay Region Art Foundation Inc reported a deficit of $5K with expenses exceeding revenue, holds 7.1 months of operating reserves (strong position).
Financial Trends
Over 13 years of filings (2011–2023), Boothbay Region Art Foundation Inc's revenue has grown at a compound annual growth rate (CAGR) of 1.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -19.1% | -21.7% | -10.6% |
| 2022 | -6.3% | +52.2% | -44.2% |
| 2021 | +58.1% | +0.9% | +50.2% |
| 2020 | +0.8% | -11.1% | -7.1% |
| 2019 | -6.8% | +1.6% | -16.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| 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 Region Art Foundation Inc 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: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Boothbay Region Art Foundation Inc 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.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $5K, with expenses exceeding revenue.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that no executive salaries are paid, which is highly efficient for a nonprofit of its size.
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 Region Art Foundation Inc's IRS 990 filings:
- Occasional operating deficits (e.g., $73,402 expenses vs. $68,216 revenue in 2023)
Strengths
The following positive indicators were identified for Boothbay Region Art Foundation Inc:
- Consistent reporting of $0 liabilities across all filings
- No officer compensation reported, indicating high efficiency
- Long operating history with 13 IRS 990 filings
- Ability to recover from deficit years (e.g., surplus in 2021 after deficits in 2019 and 2020)
Frequently Asked Questions about Boothbay Region Art Foundation Inc
Is Boothbay Region Art Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Boothbay Region Art Foundation Inc (EIN: 16019124) some concerns. Mission Score: 85/100. 1 red flag identified, 4 strengths noted.
How does Boothbay Region Art Foundation Inc spend its money?
Boothbay Region Art Foundation Inc directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Boothbay Region Art Foundation Inc tax-deductible?
Boothbay Region Art Foundation Inc is registered as a tax-exempt nonprofit (EIN: 16019124). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Boothbay Region Art Foundation Inc's spending goes to programs?
Boothbay Region Art Foundation Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Boothbay Region Art Foundation Inc located?
Boothbay Region Art Foundation Inc is headquartered in Boothbay Harbor, Maine and files with the IRS under EIN 16019124.
How many years of IRS 990 filings does Boothbay Region Art Foundation Inc have?
Boothbay Region Art Foundation Inc 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 $174K in total revenue.
Is Boothbay Region Art Foundation Inc. a good charity?
Based on the available financial data, the organization appears to be a good charity, particularly due to its debt-free status, lack of officer compensation, and consistent operation over many years. While it experiences occasional operating deficits, these are not leading to accumulating debt.
How does the organization manage its liabilities?
Boothbay Region Art Foundation Inc. has consistently reported $0 in liabilities across all 13 available IRS 990 filings, indicating excellent debt management and a strong financial position in this regard.
What is the trend in the organization's assets?
The organization's assets have fluctuated over the years, ranging from a low of $34,555 (latest reported) to a high of $87,579 in 2021. This fluctuation suggests that assets are being utilized or are subject to market changes, rather than consistently growing or declining.
Filing History
IRS 990 filing history for Boothbay Region Art Foundation Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Boothbay Region Art Foundation Inc's revenue has grown by 15.6%, moving from $59K to $68K. Total assets increased by 22.2% over the same period, from $36K to $44K. Total functional expenses rose by 17.9%, from $62K to $73K. In its most recent filing year (2023), Boothbay Region Art Foundation Inc reported a deficit of $5K, with expenses exceeding revenue.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $68K | $73K | $44K | $0 | — | — |
| 2022 | $84K | $94K | $49K | $0 | — | View 990 |
| 2021 | $90K | $62K | $88K | $0 | — | — |
| 2020 | $57K | $61K | $58K | $0 | — | View 990 |
| 2019 | $56K | $69K | $63K | $0 | — | View 990 |
| 2018 | $61K | $68K | $75K | $0 | — | View 990 |
| 2017 | $119K | $75K | $82K | $0 | — | View 990 |
| 2016 | $67K | $71K | $38K | $0 | — | View 990 |
| 2015 | $64K | $76K | $42K | $0 | — | View 990 |
| 2014 | $78K | $68K | $53K | $0 | — | View 990 |
| 2013 | $84K | $72K | $42K | $0 | — | View 990 |
| 2012 | $56K | $62K | $30K | $0 | — | View 990 |
| 2011 | $59K | $62K | $36K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $68K, expenses of $73K, and assets of $44K (revenue -19.1% year-over-year).
- 2022: Revenue of $84K, expenses of $94K, and assets of $49K (revenue -6.3% year-over-year).
- 2021: Revenue of $90K, expenses of $62K, and assets of $88K (revenue +58.1% year-over-year).
- 2020: Revenue of $57K, expenses of $61K, and assets of $58K (revenue +0.8% year-over-year).
- 2019: Revenue of $56K, expenses of $69K, and assets of $63K (revenue -6.8% year-over-year).
- 2018: Revenue of $61K, expenses of $68K, and assets of $75K (revenue -49.1% year-over-year).
- 2017: Revenue of $119K, expenses of $75K, and assets of $82K (revenue +77.3% year-over-year).
- 2016: Revenue of $67K, expenses of $71K, and assets of $38K (revenue +4.4% year-over-year).
- 2015: Revenue of $64K, expenses of $76K, and assets of $42K (revenue -18.0% year-over-year).
- 2014: Revenue of $78K, expenses of $68K, and assets of $53K (revenue -6.4% year-over-year).
- 2013: Revenue of $84K, expenses of $72K, and assets of $42K (revenue +48.4% year-over-year).
- 2012: Revenue of $56K, expenses of $62K, and assets of $30K (revenue -4.3% year-over-year).
- 2011: Revenue of $59K, expenses of $62K, and assets of $36K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Boothbay Region Art Foundation Inc:
Data Sources and Methodology
This transparency report for Boothbay Region Art Foundation Inc 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.