Canaan Borders Riders Inc
Canaan Borders Riders Inc: Financial Instability and Lack of Transparency Raise Concerns
EIN: 222507216 · Canaan, VT · NTEE: N32 · Updated: 2026-04-04
About Canaan Borders Riders Inc
Canaan Borders Riders Inc (EIN: 222507216) is a nonprofit organization based in Canaan, VT, classified under NTEE code N32. The organization reported total revenue of $51K and total assets of $189K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Canaan Borders Riders Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Canaan Borders Riders Inc with a Mission Score of 45 out of 100 (Fair). 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: 70%
- fundraising: 15%
According to IRS 990 filings, Canaan Borders Riders Inc allocates its expenses as follows: admin: 15%, programs: 70%, fundraising: 15%. Approximately 70% goes to programs, indicating moderate mission focus.
Executive Compensation Analysis
Executive compensation details are not disclosed in available filings, making it impossible to assess fairness or alignment with organizational performance.
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 Canaan Borders Riders Inc's IRS 990 filings:
- Net assets decreased by $6,075 in 2023 and $56,805 in 2022, indicating a concerning trend of financial decline.
- Total expenses exceeded revenue in both 2023 ($121,605 expenses vs. $115,530 revenue) and 2022 ($133,742 expenses vs. $76,937 revenue), leading to operational deficits.
- No information on executive compensation or key employee salaries is publicly available, hindering accountability.
- The organization reported 0% lobbying and 0% political campaign activities, but the lack of detailed financial transparency makes it difficult to verify.
Strengths
The following positive indicators were identified for Canaan Borders Riders Inc:
- The organization has been in operation for several years, indicating some level of community presence.
Frequently Asked Questions about Canaan Borders Riders Inc
What does Canaan Borders Riders Inc do?
Canaan Borders Riders Inc is a nonprofit organization in the Recreation & Sports sector, located in Canaan, Vermont. It is classified under NTEE code N32.
How much revenue does Canaan Borders Riders Inc have?
Canaan Borders Riders Inc reported total revenue of $50,803. Based on 3 IRS 990 filings on record.
What are Canaan Borders Riders Inc's total assets?
Canaan Borders Riders Inc holds total assets of $188,640 as reported in IRS 990 filings.
Where is Canaan Borders Riders Inc located?
Canaan Borders Riders Inc is based in Canaan, Vermont.
What is Canaan Borders Riders Inc's EIN?
Canaan Borders Riders Inc's Employer Identification Number (EIN) is 222507216. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Canaan Borders Riders Inc?
Canaan Borders Riders Inc is classified under NTEE code N32 (Recreation & Sports).
Is Canaan Borders Riders Inc a registered 501(c)(3)?
Yes, Canaan Borders Riders Inc is recognized as a tax-exempt organization by the IRS. EIN: 222507216.
Does Canaan Borders Riders Inc file IRS Form 990?
Yes, Canaan Borders Riders Inc has 3 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was Canaan Borders Riders Inc's revenue in 2023?
In the 202312 filing period, Canaan Borders Riders Inc reported total revenue of $115,530, total expenses of $121,605, and net assets of $-6,075.
Is Canaan Borders Riders Inc's revenue growing or declining?
Canaan Borders Riders Inc's revenue is growing. Revenue went from $76,937 (202212) to $115,530 (202312), a +50.2% change. Based on 3 filings on record.
What is Canaan Borders Riders Inc's most recent 990 filing?
The most recent IRS Form 990 filing for Canaan Borders Riders Inc covers tax period 202312. It shows revenue of $115,530, expenses of $121,605, total assets of $-6,075, and liabilities of N/A.
How much does Canaan Borders Riders Inc spend on programs vs administration?
Based on IRS 990 analysis, Canaan Borders Riders Inc allocates approximately 70% of expenses to program services, 15% to administrative costs, and 15% to fundraising. Program spending is moderate relative to overhead.
Is Canaan Borders Riders Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, Canaan Borders Riders Inc shows mixed signals. Mission Score: 45/100 (Fair). 4 red flags identified. 1 strength noted.
What are the red flags for Canaan Borders Riders Inc?
The following concerns were identified: Net assets decreased by $6,075 in 2023 and $56,805 in 2022, indicating a concerning trend of financial decline.. Total expenses exceeded revenue in both 2023 ($121,605 expenses vs. $115,530 revenue) and 2022 ($133,742 expenses vs. $76,937 revenue), leading to operational deficits.. No information on executive compensation or key employee salaries is publicly available, hindering accountability.. The organization reported 0% lobbying and 0% political campaign activities, but the lack of detailed financial transparency makes it difficult to verify.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Canaan Borders Riders Inc's strengths?
Positive indicators for Canaan Borders Riders Inc include: The organization has been in operation for several years, indicating some level of community presence.. These findings are derived from AI analysis of the organization's financial filings.
How does Canaan Borders Riders Inc compensate executives?
Executive compensation details are not disclosed in available filings, making it impossible to assess fairness or alignment with organizational performance. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the consistent operational deficits in recent years, what specific strategies are being implemented to achieve financial sustainability and reverse the trend of declining net assets?
The available data does not provide insight into specific strategies for financial sustainability. The consistent deficits suggest a need for a comprehensive financial restructuring plan.
How does Canaan Borders Riders Inc. ensure that its program spending is effective and aligned with its mission, especially without detailed breakdowns of program expenditures?
Without detailed program spending breakdowns, it is challenging to assess the effectiveness and alignment of expenditures with the organization's mission. This lack of detail is a significant transparency concern.
Filing History
IRS 990 filing history for Canaan Borders Riders Inc showing financial trends over 3 years of public records:
Over 3 years of IRS 990 filings (2020–2023), Canaan Borders Riders Inc's revenue has declined by 29.1%, moving from $163K to $116K. Total assets decreased by 115.6% over the same period, from $39K to $-6,075. Total functional expenses fell by 1.9%, from $124K to $122K. In its most recent filing year (2023), Canaan Borders Riders Inc reported a deficit of $6K, with expenses exceeding revenue.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $116K | $122K | $-6,075 | $0 | — | View 990 |
| 2022 | $77K | $134K | $-56,805 | $0 | — | View 990 |
| 2020 | $163K | $124K | $39K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $116K, expenses of $122K, and assets of $-6,075 (revenue +50.2% year-over-year).
- 2022: Revenue of $77K, expenses of $134K, and assets of $-56,805 (revenue -52.8% year-over-year).
- 2020: Revenue of $163K, expenses of $124K, and assets of $39K.
Data Sources and Methodology
This transparency report for Canaan Borders Riders 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.