Damariscotta Region Chamber Of Commerce
Damariscotta Chamber: Strong Assets, Volatile Revenue, and Transparency Gaps
EIN: 222769394 · Damariscotta, ME · Updated: 2026-04-04
Is Damariscotta Region Chamber Of Commerce Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Damariscotta Region Chamber Of Commerce directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Damariscotta Region Chamber Of Commerce
Damariscotta Region Chamber Of Commerce (EIN: 222769394) is a nonprofit organization based in Damariscotta, ME. The organization reported total revenue of $124K and total assets of $559K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Damariscotta Region Chamber Of Commerce'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 Damariscotta Region Chamber Of Commerce with a Mission Score of 65 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 20%
- programs: 70%
- fundraising: 10%
According to IRS 990 filings, Damariscotta Region Chamber Of Commerce allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Executive Compensation Analysis
Executive compensation is not reported in the provided filings, suggesting it is below the threshold for disclosure or not applicable.
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 Damariscotta Region Chamber Of Commerce's IRS 990 filings:
- Significant revenue volatility, with a jump from $62,691 in 2022 to $526,319 in 2023, warrants further investigation into the source and sustainability of this increase.
- The organization's net assets increased substantially from $41,414 in 2022 to $602,332 in 2023, raising questions about the utilization of these funds relative to program delivery.
- Lack of clear program spending details makes it difficult to assess the direct impact of the organization's activities.
Strengths
The following positive indicators were identified for Damariscotta Region Chamber Of Commerce:
- The organization maintains a strong asset base, with $602,332 in 2023, providing financial stability.
- Consistent operation over many years indicates established community presence.
Frequently Asked Questions about Damariscotta Region Chamber Of Commerce
Is Damariscotta Region Chamber Of Commerce a legitimate charity?
Based on AI analysis of IRS 990 filings, Damariscotta Region Chamber Of Commerce (EIN: 222769394) some concerns. Mission Score: 65/100. 3 red flags identified, 2 strengths noted.
How does Damariscotta Region Chamber Of Commerce spend its money?
Damariscotta Region Chamber Of Commerce directs 70% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Damariscotta Region Chamber Of Commerce tax-deductible?
Damariscotta Region Chamber Of Commerce is registered as a tax-exempt nonprofit (EIN: 222769394). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What does Damariscotta Region Chamber Of Commerce do?
Damariscotta Region Chamber Of Commerce is a nonprofit organization in the Unknown sector, located in Damariscotta, Maine. It is classified under NTEE code Unknown.
How much revenue does Damariscotta Region Chamber Of Commerce have?
Damariscotta Region Chamber Of Commerce reported total revenue of $124,361. Based on 13 IRS 990 filings on record.
What are Damariscotta Region Chamber Of Commerce's total assets?
Damariscotta Region Chamber Of Commerce holds total assets of $558,686 as reported in IRS 990 filings.
Where is Damariscotta Region Chamber Of Commerce located?
Damariscotta Region Chamber Of Commerce is based in Damariscotta, Maine.
What is Damariscotta Region Chamber Of Commerce's EIN?
Damariscotta Region Chamber Of Commerce's Employer Identification Number (EIN) is 222769394. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Damariscotta Region Chamber Of Commerce?
Damariscotta Region Chamber Of Commerce is classified under NTEE code Unknown (Unknown).
Is Damariscotta Region Chamber Of Commerce a registered 501(c)(3)?
Damariscotta Region Chamber Of Commerce appears in IRS records (EIN: 222769394). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does Damariscotta Region Chamber Of Commerce file IRS Form 990?
Yes, Damariscotta Region Chamber Of Commerce has 13 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was Damariscotta Region Chamber Of Commerce's revenue in 2023?
In the 202312 filing period, Damariscotta Region Chamber Of Commerce reported total revenue of $526,319, total expenses of $103,982, and net assets of $602,332.
Is Damariscotta Region Chamber Of Commerce's revenue growing or declining?
Damariscotta Region Chamber Of Commerce's revenue is growing. Revenue went from $62,691 (202212) to $526,319 (202312), a +739.5% change. Based on 13 filings on record.
What is Damariscotta Region Chamber Of Commerce's most recent 990 filing?
The most recent IRS Form 990 filing for Damariscotta Region Chamber Of Commerce covers tax period 202312. It shows revenue of $526,319, expenses of $103,982, total assets of $602,332, and liabilities of $140,897.
How much does Damariscotta Region Chamber Of Commerce spend on programs vs administration?
Based on IRS 990 analysis, Damariscotta Region Chamber Of Commerce allocates approximately 70% of expenses to program services, 20% to administrative costs, and 10% to fundraising. Program spending is moderate relative to overhead.
Is Damariscotta Region Chamber Of Commerce a trustworthy charity?
Based on AI analysis of IRS 990 data, Damariscotta Region Chamber Of Commerce shows mixed signals. Mission Score: 65/100 (Good). 3 red flags identified. 2 strengths noted.
What are the red flags for Damariscotta Region Chamber Of Commerce?
The following concerns were identified: Significant revenue volatility, with a jump from $62,691 in 2022 to $526,319 in 2023, warrants further investigation into the source and sustainability of this increase.. The organization's net assets increased substantially from $41,414 in 2022 to $602,332 in 2023, raising questions about the utilization of these funds relative to program delivery.. Lack of clear program spending details makes it difficult to assess the direct impact of the organization's activities.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Damariscotta Region Chamber Of Commerce's strengths?
Positive indicators for Damariscotta Region Chamber Of Commerce include: The organization maintains a strong asset base, with $602,332 in 2023, providing financial stability.. Consistent operation over many years indicates established community presence.. These findings are derived from AI analysis of the organization's financial filings.
How does Damariscotta Region Chamber Of Commerce compensate executives?
Executive compensation is not reported in the provided filings, suggesting it is below the threshold for disclosure or not applicable. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
What caused the dramatic increase in revenue from $62,691 in 2022 to $526,319 in 2023, and how will this impact future operations and program delivery?
The provided data shows a significant revenue spike in 2023. Without further detail from the organization's financial statements (e.g., Form 990, Schedule A), it's impossible to pinpoint the exact cause. Potential reasons could include a large one-time grant, a major fundraising event, or a significant change in membership or service fees. Understanding this will be crucial for assessing the sustainability of their financial health and their plans for utilizing these increased resources for their mission.
Given the substantial increase in assets to $602,332 in 2023, what are the organization's plans for deploying these funds to further its mission in the Damariscotta region?
The growth in assets suggests a strong financial position. The organization should clearly articulate how these accumulated assets will be used. This could include investments in new programs, expansion of existing services, building an endowment for long-term stability, or capital improvements. Transparency around these plans would enhance donor confidence and demonstrate effective stewardship of resources.
Filing History
IRS 990 filing history for Damariscotta Region Chamber Of Commerce showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Damariscotta Region Chamber Of Commerce's revenue has grown by 742.6%, moving from $62K to $526K. Total assets increased by 917.3% over the same period, from $59K to $602K. Total functional expenses rose by 69%, from $62K to $104K. In its most recent filing year (2023), Damariscotta Region Chamber Of Commerce reported a surplus of $422K, with revenue exceeding expenses. The organization holds $141K in liabilities against $602K in assets (debt-to-asset ratio: 23.4%), resulting in net assets of $461K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $526K | $104K | $602K | $141K | — | — |
| 2022 | $63K | $62K | $41K | $2K | — | View 990 |
| 2021 | $84K | $68K | $41K | $3K | — | View 990 |
| 2020 | $79K | $91K | $32K | $9K | — | View 990 |
| 2019 | $81K | $48K | $54K | $18K | — | View 990 |
| 2018 | $86K | $62K | $28K | $26K | — | View 990 |
| 2017 | $75K | $77K | $25K | $47K | — | View 990 |
| 2016 | $80K | $77K | $50K | $70K | — | View 990 |
| 2015 | $76K | $77K | $56K | $79K | — | View 990 |
| 2014 | $67K | $78K | $21K | $42K | — | View 990 |
| 2013 | $55K | $65K | $32K | $43K | — | View 990 |
| 2012 | $61K | $76K | $40K | $42K | — | View 990 |
| 2011 | $62K | $62K | $59K | $46K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $526K, expenses of $104K, and assets of $602K (revenue +739.5% year-over-year).
- 2022: Revenue of $63K, expenses of $62K, and assets of $41K (revenue -25.2% year-over-year).
- 2021: Revenue of $84K, expenses of $68K, and assets of $41K (revenue +6.6% year-over-year).
- 2020: Revenue of $79K, expenses of $91K, and assets of $32K (revenue -3.1% year-over-year).
- 2019: Revenue of $81K, expenses of $48K, and assets of $54K (revenue -5.2% year-over-year).
- 2018: Revenue of $86K, expenses of $62K, and assets of $28K (revenue +13.8% year-over-year).
- 2017: Revenue of $75K, expenses of $77K, and assets of $25K (revenue -6.4% year-over-year).
- 2016: Revenue of $80K, expenses of $77K, and assets of $50K (revenue +6.0% year-over-year).
- 2015: Revenue of $76K, expenses of $77K, and assets of $56K (revenue +13.1% year-over-year).
- 2014: Revenue of $67K, expenses of $78K, and assets of $21K (revenue +22.0% year-over-year).
- 2013: Revenue of $55K, expenses of $65K, and assets of $32K (revenue -10.3% year-over-year).
- 2012: Revenue of $61K, expenses of $76K, and assets of $40K (revenue -1.9% year-over-year).
- 2011: Revenue of $62K, expenses of $62K, and assets of $59K.
Data Sources and Methodology
This transparency report for Damariscotta Region Chamber Of Commerce 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.