Chewonki Foundation Inc
Chewonki Foundation maintains strong assets despite recent operational deficit and no reported officer compensation.
EIN: 10269460 · Wiscasset, ME · NTEE: C600 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $10.1M |
| Total Expenses | $11.4M |
| Program Spending | 80% |
| CEO/Top Officer Pay | $10 |
| Net Assets | $21.6M |
| Transparency Score | 85/100 |
Is Chewonki Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Chewonki Foundation Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Chewonki Foundation Inc
Chewonki Foundation Inc (EIN: 10269460) is a nonprofit organization based in Wiscasset, ME, classified under NTEE code C600. The organization reported total revenue of $10.1M and total assets of $25.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Chewonki Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Chewonki Foundation Inc is a large 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 3.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $10.8M |
| Total Expenses | $11.4M |
| Surplus / Deficit | $-564,451 |
| Total Assets | $26.7M |
| Total Liabilities | $5.1M |
| Net Assets | $21.6M |
| Operating Margin | -5.2% |
| Debt-to-Asset Ratio | 19.1% |
| Months of Reserves | 28.2 months |
Financial Health Grade: B
In 2023, Chewonki Foundation Inc reported a deficit of $564K with expenses exceeding revenue, holds 28.2 months of operating reserves (strong position), has a debt-to-asset ratio of 19.1% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Chewonki Foundation Inc's revenue has grown at a compound annual growth rate (CAGR) of 3.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +11.5% | +2.9% | -6.8% |
| 2022 | -5.1% | +6.4% | -8.7% |
| 2021 | +36.6% | +30.2% | +10.8% |
| 2020 | -35.4% | -5.2% | +10.1% |
| 2019 | +24.3% | +2.3% | +17.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| 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 Chewonki 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: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Chewonki Foundation Inc 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.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $564K, with expenses exceeding revenue.
- Debt-to-asset ratio: 19.1%.
Executive Compensation Analysis
The Chewonki Foundation consistently reports 0% officer compensation across all available filings, which is highly unusual for an organization of its size with over $10 million in annual revenue and $26 million in assets. This suggests either a volunteer leadership model or that executive compensation is structured and reported in a manner not captured under 'officer compensation' on the 990, warranting further inquiry for complete financial transparency.
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 Chewonki Foundation Inc's IRS 990 filings:
- Consistent 0% officer compensation reported, which is highly unusual for an organization of this size and could indicate a lack of transparency regarding executive pay.
- Recent operational deficit in 202308 ($10,791,457 revenue vs. $11,355,908 expenses), breaking a trend of surpluses or near break-even operations.
- Significant fluctuations in liabilities over time, peaking at $6,607,445 in 202208, warranting further investigation into their nature and management.
Strengths
The following positive indicators were identified for Chewonki Foundation Inc:
- Strong and growing asset base, increasing from $18,604,635 in 2015 to $26,688,704 in 2023, indicating financial stability and capacity.
- Consistent revenue generation, averaging around $9 million annually over the past decade, demonstrating stable funding streams.
- Long history of IRS 990 filings (13 filings), suggesting a commitment to regulatory compliance and transparency.
Frequently Asked Questions about Chewonki Foundation Inc
Is Chewonki Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Chewonki Foundation Inc (EIN: 10269460) some concerns. Mission Score: 85/100. 3 red flags identified, 3 strengths noted.
How does Chewonki Foundation Inc spend its money?
Chewonki Foundation Inc directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Chewonki Foundation Inc tax-deductible?
Chewonki Foundation Inc is registered as a tax-exempt nonprofit (EIN: 10269460). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Chewonki Foundation Inc CEO make?
Chewonki Foundation Inc's highest-compensated officer earns $10 annually. The organization reported $10.1M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Chewonki Foundation Inc's spending goes to programs?
Chewonki Foundation Inc directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Chewonki Foundation Inc compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Chewonki Foundation Inc is above average for NTEE category C600 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Chewonki Foundation Inc located?
Chewonki Foundation Inc is headquartered in Wiscasset, Maine and files with the IRS under EIN 10269460. It is classified under NTEE code C600.
How many years of IRS 990 filings does Chewonki Foundation Inc have?
Chewonki 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 $10.1M in total revenue.
How does Chewonki Foundation Inc. manage to report 0% officer compensation across all filings, and what is the actual compensation structure for its top leadership?
The consistent reporting of 0% officer compensation is highly unusual for an organization of this scale. It suggests either a fully volunteer-led executive team, or that executive compensation is paid through a related entity or reported under different expense categories, which would require deeper investigation into their financial statements for clarity.
What caused the deficit in the 202308 fiscal period, where expenses exceeded revenue by over $500,000?
In the 202308 period, expenses were $11,355,908 against revenues of $10,791,457, resulting in a deficit. This could be due to increased program costs, one-time capital expenditures, or a temporary dip in revenue. Further analysis of the detailed expense breakdown would be needed to pinpoint the exact cause.
What is the organization's strategy for managing its liabilities, which have fluctuated significantly, reaching $6,607,445 in 202208?
Liabilities have shown considerable fluctuation, from a low of $2,391,448 in 201508 to a high of $6,607,445 in 202208. Understanding the nature of these liabilities (e.g., program-related debt, capital project financing) and the organization's repayment strategy is crucial for assessing long-term financial stability.
Filing History
IRS 990 filing history for Chewonki Foundation Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Chewonki Foundation Inc's revenue has grown by 49.2%, moving from $7.2M to $10.8M. Total assets increased by 46.6% over the same period, from $18.2M to $26.7M. Total functional expenses rose by 69.9%, from $6.7M to $11.4M. In its most recent filing year (2023), Chewonki Foundation Inc reported a deficit of $564K, with expenses exceeding revenue. The organization holds $5.1M in liabilities against $26.7M in assets (debt-to-asset ratio: 19.1%), resulting in net assets of $21.6M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $10.8M | $11.4M | $26.7M | $5.1M | — | View 990 |
| 2022 | $9.7M | $11.0M | $28.6M | $6.6M | — | View 990 |
| 2021 | $10.2M | $10.4M | $31.4M | $6.5M | — | — |
| 2020 | $7.5M | $8.0M | $28.3M | $4.7M | — | — |
| 2019 | $11.6M | $8.4M | $25.7M | $3.0M | — | View 990 |
| 2018 | $9.3M | $8.2M | $21.9M | $3.1M | — | View 990 |
| 2017 | $7.6M | $7.7M | $19.5M | $3.0M | — | View 990 |
| 2016 | $7.6M | $7.8M | $18.7M | $2.6M | — | View 990 |
| 2015 | $7.2M | $7.1M | $18.6M | $2.4M | — | View 990 |
| 2014 | $6.4M | $6.3M | $19.5M | $2.8M | — | View 990 |
| 2013 | $6.4M | $6.5M | $18.6M | $2.8M | — | View 990 |
| 2012 | $6.5M | $6.6M | $18.5M | $3.2M | — | View 990 |
| 2011 | $7.2M | $6.7M | $18.2M | $3.0M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $10.8M, expenses of $11.4M, and assets of $26.7M (revenue +11.5% year-over-year).
- 2022: Revenue of $9.7M, expenses of $11.0M, and assets of $28.6M (revenue -5.1% year-over-year).
- 2021: Revenue of $10.2M, expenses of $10.4M, and assets of $31.4M (revenue +36.6% year-over-year).
- 2020: Revenue of $7.5M, expenses of $8.0M, and assets of $28.3M (revenue -35.4% year-over-year).
- 2019: Revenue of $11.6M, expenses of $8.4M, and assets of $25.7M (revenue +24.3% year-over-year).
- 2018: Revenue of $9.3M, expenses of $8.2M, and assets of $21.9M (revenue +23.1% year-over-year).
- 2017: Revenue of $7.6M, expenses of $7.7M, and assets of $19.5M (revenue +0.1% year-over-year).
- 2016: Revenue of $7.6M, expenses of $7.8M, and assets of $18.7M (revenue +4.5% year-over-year).
- 2015: Revenue of $7.2M, expenses of $7.1M, and assets of $18.6M (revenue +13.5% year-over-year).
- 2014: Revenue of $6.4M, expenses of $6.3M, and assets of $19.5M (revenue -1.1% year-over-year).
- 2013: Revenue of $6.4M, expenses of $6.5M, and assets of $18.6M (revenue -1.2% year-over-year).
- 2012: Revenue of $6.5M, expenses of $6.6M, and assets of $18.5M (revenue -9.9% year-over-year).
- 2011: Revenue of $7.2M, expenses of $6.7M, and assets of $18.2M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Chewonki Foundation Inc:
Data Sources and Methodology
This transparency report for Chewonki 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.