Cascade Foundation

Cascade Foundation faces persistent operating deficits and declining assets over the past decade.

EIN: 204956488 · Rockport, ME · NTEE: T22 · Updated: 2026-03-28

$6.9MRevenue

$12.9MAssets

45/100Mission Score (Fair)

T22

About Cascade Foundation

Cascade Foundation (EIN: 204956488) is a nonprofit organization based in Rockport, ME, classified under NTEE code T22. The organization reported total revenue of $6.9M and total assets of $12.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Cascade Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

The Cascade Foundation exhibits a concerning financial trend, with negative revenues reported in multiple recent years (e.g., -$87,362 in 2023 and -$223,693 in 2022). This suggests a significant reliance on asset drawdowns or other non-operating income sources to cover expenses, which consistently exceed revenue. For instance, in 2023, expenses were $1,181,262 against negative revenue. The organization's assets have also been in a steady decline, from over $20 million in 2011 to $13.5 million in 2023, indicating a depletion of its financial reserves. While officer compensation is consistently reported as 0%, which is a positive for direct program funding, the overall financial sustainability is questionable given the persistent operating deficits and shrinking asset base. The latest reported revenue of $6,852,077 seems to be an anomaly compared to the historical trend of much lower or negative revenues, and without further context, it's difficult to reconcile with the recent negative figures. This discrepancy warrants further investigation to understand the true financial picture.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Cascade Foundation 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: 80%
fundraising: 5%

According to IRS 990 filings, Cascade Foundation 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.

Executive Compensation Analysis

Executive compensation is consistently reported as 0% across all available filings, indicating that no officers or key employees receive salaries from the organization, which is highly unusual for an organization with over $13 million in assets and annual expenses exceeding $1 million.

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 Cascade Foundation's IRS 990 filings:

Persistent negative operating revenue in recent years (e.g., $-87,362 in 2023, $-223,693 in 2022).
Consistent decline in total assets over the past decade, from $20.4 million in 2011 to $13.5 million in 2023.
Expenses consistently exceeding reported revenue, indicating reliance on asset drawdowns.
Significant discrepancy between 'Latest Revenue' ($6,852,077) and recent 990 reported revenues, requiring clarification.

Strengths

The following positive indicators were identified for Cascade Foundation:

Zero officer compensation reported across all filings, indicating no direct salary burden from executive pay.
Relatively low liabilities compared to assets in most years, suggesting good debt management.

Frequently Asked Questions about Cascade Foundation

Why has Cascade Foundation reported negative revenue in multiple recent years?

The filings show negative revenue in 2023 ($-87,362), 2022 ($-223,693), and 2020 ($-263,401). This could indicate significant investment losses, returns of grants, or other non-operating income/expense factors that are not clearly detailed in the summary data.

What is the explanation for the significant discrepancy between the 'Latest Revenue' of $6,852,077 and the negative revenues reported in recent 990 filings?

The provided 'Latest Revenue' figure is significantly higher and positive compared to the negative revenues in the 2023 and 2022 filings. This discrepancy needs clarification, as it could represent a different reporting period, a specific large one-time gain, or a different definition of 'revenue' not reflected in the 990 summary data.

How does Cascade Foundation cover its annual expenses when revenue is consistently lower or negative?

With expenses consistently exceeding revenue (e.g., $1,181,262 in expenses vs. $-87,362 revenue in 2023), the organization appears to be drawing down its assets to cover operational costs, as evidenced by the steady decline in total assets from $20.4 million in 2011 to $13.5 million in 2023.

What are the specific program activities of Cascade Foundation, given its NTEE code T22 (Philanthropy, Voluntarism & Grantmaking Foundations)?

The NTEE code suggests it's a grantmaking foundation. Understanding the specific grants or programs funded would be crucial to assess its impact, especially given the financial trends.

Filing History

IRS 990 filing history for Cascade Foundation showing financial trends over 10 years of public records:

Over 10 years of IRS 990 filings (2011–2023), Cascade Foundation's revenue has declined by 108%, moving from $1.1M to $-87,362. Total assets decreased by 33.9% over the same period, from $20.5M to $13.5M. Total functional expenses fell by 17.4%, from $1.4M to $1.2M. The organization holds $10K in liabilities against $13.5M in assets (debt-to-asset ratio: 0.1%), resulting in net assets of $13.5M.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$-87,362	$1.2M	$13.5M	$10K	—	—
2022	$-223,693	$1.2M	$14.8M	$6K	—	View 990
2021	$858K	$1.1M	$16.4M	$7K	—	View 990
2020	$-263,401	$1.0M	$16.6M	$4K	—	View 990
2019	$811K	$905K	$19.5M	$4K	—	View 990
2015	$28K	$950K	$19.3M	$4K	—	View 990
2014	$1.1M	$1.2M	$20.2M	$15K	—	View 990
2013	$1.2M	$1.4M	$19.4M	$4K	—	View 990
2012	$864K	$1.4M	$19.9M	$1K	—	View 990
2011	$1.1M	$1.4M	$20.5M	$7K	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $-87,362, expenses of $1.2M, and assets of $13.5M.
2022: Revenue of $-223,693, expenses of $1.2M, and assets of $14.8M (revenue -126.1% year-over-year).
2021: Revenue of $858K, expenses of $1.1M, and assets of $16.4M.
2020: Revenue of $-263,401, expenses of $1.0M, and assets of $16.6M (revenue -132.5% year-over-year).
2019: Revenue of $811K, expenses of $905K, and assets of $19.5M (revenue +2775.8% year-over-year).
2015: Revenue of $28K, expenses of $950K, and assets of $19.3M (revenue -97.3% year-over-year).
2014: Revenue of $1.1M, expenses of $1.2M, and assets of $20.2M (revenue -14.4% year-over-year).
2013: Revenue of $1.2M, expenses of $1.4M, and assets of $19.4M (revenue +43.2% year-over-year).
2012: Revenue of $864K, expenses of $1.4M, and assets of $19.9M (revenue -20.9% year-over-year).
2011: Revenue of $1.1M, expenses of $1.4M, and assets of $20.5M.

Data Sources and Methodology

This transparency report for Cascade 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.