Boothbay Region Education Foundation
Boothbay Region Education Foundation shows asset growth and no officer compensation despite fluctuating revenues.
EIN: 10534214 · Boothbay Hbr, ME · NTEE: B12 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $55K |
| Total Expenses | $85K |
| Program Spending | 85% |
| Net Assets | $110K |
| Transparency Score | 85/100 |
Is Boothbay Region Education Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Boothbay Region Education Foundation directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Boothbay Region Education Foundation
Boothbay Region Education Foundation (EIN: 10534214) is a nonprofit organization based in Boothbay Hbr, ME, classified under NTEE code B12. The organization reported total revenue of $55K and total assets of $128K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Boothbay Region Education Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Boothbay Region Education Foundation is a micro nonprofit that has been operating for 26 years, with 4 years of IRS 990 filings on record (2021–2024). Revenue has grown at a compound annual rate of -31.6%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $73K |
| Total Expenses | $85K |
| Surplus / Deficit | $-12,228 |
| Total Assets | $110K |
| Net Assets | $110K |
| Operating Margin | -16.9% |
| Months of Reserves | 15.5 months |
Financial Health Grade: B
In 2024, Boothbay Region Education Foundation reported a deficit of $12K with expenses exceeding revenue, holds 15.5 months of operating reserves (strong position).
Financial Trends
Over 4 years of filings (2021–2024), Boothbay Region Education Foundation's revenue has declined at a compound annual growth rate (CAGR) of -31.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | +160.0% | +694.1% | -10.0% |
| 2023 | -63.4% | -72.3% | +16.5% |
| 2022 | -66.3% | -82.2% | +56.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2000 |
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 Education 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: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Boothbay Region Education Foundation 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 (2024)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $12K, with expenses exceeding revenue.
Executive Compensation Analysis
The organization reports 0% officer compensation across all four filings, indicating that its leadership is entirely volunteer-based, which is highly efficient for a nonprofit of this 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 Education Foundation's IRS 990 filings:
- Expenses exceeded revenue in the most recent filing period (202403), indicating a short-term deficit.
Strengths
The following positive indicators were identified for Boothbay Region Education Foundation:
- Consistent asset growth over the past four years, from $66,848 to $109,551.
- Zero liabilities reported across all filing periods, indicating strong financial solvency.
- 0% officer compensation reported, suggesting a volunteer-driven leadership and efficient use of funds.
- Consistent filing of IRS Form 990s, demonstrating transparency.
Frequently Asked Questions about Boothbay Region Education Foundation
Is Boothbay Region Education Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Boothbay Region Education Foundation (EIN: 10534214) some concerns. Mission Score: 85/100. 1 red flag identified, 4 strengths noted.
How does Boothbay Region Education Foundation spend its money?
Boothbay Region Education Foundation directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Boothbay Region Education Foundation tax-deductible?
Boothbay Region Education Foundation is registered as a tax-exempt nonprofit (EIN: 10534214). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Boothbay Region Education Foundation's spending goes to programs?
Boothbay Region Education Foundation directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Boothbay Region Education Foundation compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Boothbay Region Education Foundation is above average for NTEE category B12 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Boothbay Region Education Foundation located?
Boothbay Region Education Foundation is headquartered in Boothbay Hbr, Maine and files with the IRS under EIN 10534214. It is classified under NTEE code B12.
How many years of IRS 990 filings does Boothbay Region Education Foundation have?
Boothbay Region Education Foundation has 4 years of IRS 990 filings on record at NonprofitSpending. Additional filing years may become available as the IRS releases new data. The most recent filing shows $55K in total revenue.
Is Boothbay Region Education Foundation a good charity?
Based on the available data, the Boothbay Region Education Foundation appears to be a good charity. It has consistently grown its assets, maintains zero liabilities, and reports no officer compensation, suggesting a strong commitment to its mission and efficient use of funds. While revenue fluctuates, the overall financial health is positive.
How does the organization manage its expenses relative to its revenue?
The organization's expense management varies. In 2024, expenses ($84,773) exceeded revenue ($72,545), leading to a deficit. However, in 2023 and 2022, revenue significantly surpassed expenses ($27,905 revenue vs. $10,676 expenses in 2023; $76,260 revenue vs. $38,557 expenses in 2022), allowing for asset accumulation. The long-term trend shows asset growth despite these annual variations.
What is the trend in the organization's assets?
The organization's assets have shown a positive growth trend, increasing from $66,848 in 2021 to $109,551 in 2024, with a peak of $121,780 in 2023. This indicates a healthy accumulation of resources over time.
Filing History
IRS 990 filing history for Boothbay Region Education Foundation showing financial trends over 4 years of public records:
Over 4 years of IRS 990 filings (2021–2024), Boothbay Region Education Foundation's revenue has declined by 68%, moving from $226K to $73K. Total assets increased by 63.9% over the same period, from $67K to $110K. Total functional expenses fell by 60.8%, from $216K to $85K. In its most recent filing year (2024), Boothbay Region Education Foundation reported a deficit of $12K, with expenses exceeding revenue.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $73K | $85K | $110K | $0 | — | — |
| 2023 | $28K | $11K | $122K | $0 | — | View 990 |
| 2022 | $76K | $39K | $105K | $0 | — | View 990 |
| 2021 | $226K | $216K | $67K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $73K, expenses of $85K, and assets of $110K (revenue +160.0% year-over-year).
- 2023: Revenue of $28K, expenses of $11K, and assets of $122K (revenue -63.4% year-over-year).
- 2022: Revenue of $76K, expenses of $39K, and assets of $105K (revenue -66.3% year-over-year).
- 2021: Revenue of $226K, expenses of $216K, and assets of $67K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Boothbay Region Education Foundation:
Data Sources and Methodology
This transparency report for Boothbay Region Education 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.