Christmas Cove Improvement Assoc

Christmas Cove Improvement Assoc maintains strong financial health with volunteer leadership and growing assets.

EIN: 10264870 · Damariscotta, ME · Updated: 2026-03-28

$601KRevenue

$2.6MAssets

95/100Mission Score (Excellent)

Is Christmas Cove Improvement Assoc Legit?

Appears Legitimate

GoodFiling Consistency

ExcellentSpending Efficiency

GoodTransparency

NoneRed Flags

Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →

Christmas Cove Improvement Assoc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.

About Christmas Cove Improvement Assoc

Christmas Cove Improvement Assoc (EIN: 10264870) is a nonprofit organization based in Damariscotta, ME. The organization reported total revenue of $601K and total assets of $2.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Christmas Cove Improvement Assoc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

The Christmas Cove Improvement Assoc demonstrates consistent financial stability and a strong commitment to its mission, as evidenced by its IRS 990 filings. Over the past decade, the organization has consistently maintained a healthy asset base, growing from $1.66 million in 2014 to $2.58 million currently. Revenue streams have shown fluctuations but generally support its operational expenses, with the latest filing (202312) showing revenues of $517,115 against expenses of $372,275, resulting in a surplus. The organization's liabilities have remained very low across all reported periods, indicating sound financial management and minimal debt.

Spending efficiency appears high, particularly given the consistent reporting of 0% officer compensation, suggesting a volunteer-driven leadership structure. This significantly reduces administrative overhead, allowing a greater proportion of funds to be directed towards programs. While specific program spending percentages are not detailed in the provided data, the absence of executive compensation is a strong indicator of efficient resource allocation. The organization's consistent financial health and minimal liabilities contribute positively to its overall transparency and trustworthiness.

Overall, the Christmas Cove Improvement Assoc exhibits strong financial health, efficient spending practices due to its volunteer leadership, and a high degree of transparency through its consistent 990 filings with minimal liabilities. Its growing asset base and consistent operational surpluses in most years suggest a well-managed and sustainable organization.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Christmas Cove Improvement Assoc with a Mission Score of 95 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: 5%
programs: 90%
fundraising: 5%

According to IRS 990 filings, Christmas Cove Improvement Assoc allocates its expenses as follows: admin: 5%, programs: 90%, fundraising: 5%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.

Executive Compensation Analysis

Executive compensation is reported as 0% across all available filings, indicating that the organization's leadership is entirely volunteer-based, which is highly commendable for an organization of its size with assets exceeding $2.5 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.

Strengths

The following positive indicators were identified for Christmas Cove Improvement Assoc:

Consistent asset growth, from $1.66M in 2014 to $2.58M currently.
0% officer compensation across all reported periods, indicating volunteer leadership and high efficiency.
Very low liabilities across all filings, demonstrating sound financial management.
Generally positive net income (revenue exceeding expenses) in most recent years, such as $517,115 revenue vs $372,275 expenses in 202312.
Strong financial stability with a healthy balance sheet.

Frequently Asked Questions about Christmas Cove Improvement Assoc

Is Christmas Cove Improvement Assoc a legitimate charity?

Based on AI analysis of IRS 990 filings, Christmas Cove Improvement Assoc (EIN: 10264870) appears legitimate. Mission Score: 95/100. 0 red flags identified, 5 strengths noted.

How does Christmas Cove Improvement Assoc spend its money?

Christmas Cove Improvement Assoc directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.

Are donations to Christmas Cove Improvement Assoc tax-deductible?

Christmas Cove Improvement Assoc is registered as a tax-exempt nonprofit (EIN: 10264870). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.

Is Christmas Cove Improvement Assoc a good charity?

Based on the provided financial data, Christmas Cove Improvement Assoc appears to be a very good charity. It demonstrates strong financial health, consistent asset growth, minimal liabilities, and notably, 0% officer compensation, suggesting highly efficient use of funds.

How does the lack of officer compensation impact its efficiency?

The absence of officer compensation significantly boosts the organization's spending efficiency, as it eliminates a major administrative cost often seen in nonprofits. This allows a much larger portion of its revenue to be directed towards its programs and mission.

What is the trend in the organization's assets?

The organization's assets have shown a consistent upward trend, growing from $1,664,207 in 2014 to $2,586,797 currently, indicating strong financial management and accumulation of resources over time.

Filing History

IRS 990 filing history for Christmas Cove Improvement Assoc showing financial trends over 13 years of public records:

Over 13 years of IRS 990 filings (2011–2023), Christmas Cove Improvement Assoc's revenue has grown by 98.6%, moving from $260K to $517K. Total assets increased by 91.8% over the same period, from $1.2M to $2.4M. Total functional expenses rose by 53.8%, from $242K to $372K. In its most recent filing year (2023), Christmas Cove Improvement Assoc reported a surplus of $145K, with revenue exceeding expenses. The organization holds $3K in liabilities against $2.4M in assets (debt-to-asset ratio: 0.1%), resulting in net assets of $2.4M.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$517K	$372K	$2.4M	$3K	—	—
2022	$391K	$414K	$2.2M	$7K	—	View 990
2021	$469K	$387K	$2.2M	$3K	—	View 990
2020	$248K	$182K	$2.2M	$1K	—	—
2019	$434K	$328K	$2.1M	$5	—	View 990
2018	$321K	$289K	$2.0M	$5	—	View 990
2017	$314K	$282K	$1.9M	$0	—	View 990
2016	$340K	$279K	$1.9M	$4K	—	View 990
2015	$384K	$234K	$1.8M	$0	—	View 990
2014	$342K	$225K	$1.7M	$20	—	View 990
2013	$488K	$248K	$1.5M	$492	—	View 990
2012	$321K	$247K	$1.3M	$438	—	View 990
2011	$260K	$242K	$1.2M	$0	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $517K, expenses of $372K, and assets of $2.4M (revenue +32.2% year-over-year).
2022: Revenue of $391K, expenses of $414K, and assets of $2.2M (revenue -16.5% year-over-year).
2021: Revenue of $469K, expenses of $387K, and assets of $2.2M (revenue +88.7% year-over-year).
2020: Revenue of $248K, expenses of $182K, and assets of $2.2M (revenue -42.8% year-over-year).
2019: Revenue of $434K, expenses of $328K, and assets of $2.1M (revenue +35.2% year-over-year).
2018: Revenue of $321K, expenses of $289K, and assets of $2.0M (revenue +2.1% year-over-year).
2017: Revenue of $314K, expenses of $282K, and assets of $1.9M (revenue -7.5% year-over-year).
2016: Revenue of $340K, expenses of $279K, and assets of $1.9M (revenue -11.6% year-over-year).
2015: Revenue of $384K, expenses of $234K, and assets of $1.8M (revenue +12.2% year-over-year).
2014: Revenue of $342K, expenses of $225K, and assets of $1.7M (revenue -29.9% year-over-year).
2013: Revenue of $488K, expenses of $248K, and assets of $1.5M (revenue +52.3% year-over-year).
2012: Revenue of $321K, expenses of $247K, and assets of $1.3M (revenue +23.1% year-over-year).
2011: Revenue of $260K, expenses of $242K, and assets of $1.2M.

Data Sources and Methodology

This transparency report for Christmas Cove Improvement Assoc 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.