Damariscotta Region Chamber Of Commerce

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Damariscotta Region Chamber Of Commerce Form 990, Revenue, CEO Pay, and IRS Filing Signals

Damariscotta Region Chamber Of Commerce is surfaced here as a decision-ready nonprofit financial profile, not just a charity listing. The page consolidates IRS Form 990 revenue, expenses, assets, tax-exempt classification, executive compensation, mission score, red flags, and year-by-year filing history so donors, researchers, journalists, and grant teams can answer the common search questions around Damariscotta Region Chamber Of Commerce in one place.

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 →

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Across stored filings, Damariscotta Region Chamber Of Commerce shows contribution history pending. Next enrichment targets: revenue-source fields, IRS BMF classification.

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Request a concise report for Damariscotta Region Chamber Of Commerce with revenue, expenses, executive compensation, red flags, peer context, and IRS source links. You can also request CSV exports or watchlist updates for future filings.

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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.

Organization Overview

Damariscotta Region Chamber Of Commerce is a small nonprofit that has been operating for 39 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 19.4%.

Key Financial Metrics (2023)

From the most recent IRS 990 filing on record:

Financial Health Grade: A

In 2023, Damariscotta Region Chamber Of Commerce reported a surplus of $422K with revenue exceeding expenses, holds 69.5 months of operating reserves (strong position), has a debt-to-asset ratio of 23.4% (moderate leverage).

Financial Trends

Over 13 years of filings (2011–2023), Damariscotta Region Chamber Of Commerce's revenue has grown at a compound annual growth rate (CAGR) of 19.4%.

IRS Tax-Exempt Classification

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 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.

Key Financial Metrics (2023)

From the most recent IRS 990 filing on record:

• The organization reported a surplus of $422K, with revenue exceeding expenses.
• Debt-to-asset ratio: 23.4%.

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

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-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.

View Individual Filing Years

Explore detailed financial data from each IRS 990 filing year for Damariscotta Region Chamber Of Commerce:

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.