Edward J Madden Memorial Open
Edward J Madden Memorial Open maintains substantial assets despite recent operating deficits and zero executive compensation.
EIN: 111962110 · Dalton, MA · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $353K |
| Total Expenses | $257K |
| Program Spending | 90% |
| CEO/Top Officer Pay | $1.2 |
| Net Assets | $1.2M |
| Transparency Score | 85/100 |
Is Edward J Madden Memorial Open Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Edward J Madden Memorial Open directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Edward J Madden Memorial Open
Edward J Madden Memorial Open (EIN: 111962110) is a nonprofit organization based in Dalton, MA. The organization reported total revenue of $353K and total assets of $1.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Edward J Madden Memorial Open's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Edward J Madden Memorial Open is a small nonprofit that has been operating for 64 years, with 10 years of IRS 990 filings on record (2012–2024). Revenue has grown at a compound annual rate of -4.6%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $153K |
| Total Expenses | $257K |
| Surplus / Deficit | $-103,668 |
| Total Assets | $1.3M |
| Total Liabilities | $20K |
| Net Assets | $1.2M |
| Operating Margin | -67.7% |
| Debt-to-Asset Ratio | 1.6% |
| Months of Reserves | 58.8 months |
Financial Health Grade: B
In 2024, Edward J Madden Memorial Open reported a deficit of $104K with expenses exceeding revenue, holds 58.8 months of operating reserves (strong position), has a debt-to-asset ratio of 1.6% (very low leverage).
Financial Trends
Over 10 years of filings (2012–2024), Edward J Madden Memorial Open's revenue has declined at a compound annual growth rate (CAGR) of -4.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | -9.9% | -12.1% | -7.2% |
| 2023 | -78.6% | +53.3% | -11.1% |
| 2022 | +255.5% | +15.8% | +790.7% |
| 2021 | -5.9% | -39.9% | +6.4% |
| 2020 | +0.7% | +2.6% | -23.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1962 |
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 Edward J Madden Memorial Open 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: 5%
- programs: 90%
- fundraising: 5%
According to IRS 990 filings, Edward J Madden Memorial Open 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.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $104K, with expenses exceeding revenue.
- Debt-to-asset ratio: 1.6%.
Executive Compensation Analysis
Executive compensation is consistently reported at 0% across all available filings, indicating that no officers or key employees receive salaries from the organization, which is highly commendable for a nonprofit of its size with assets exceeding $1.2 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 Edward J Madden Memorial Open's IRS 990 filings:
- Recent years (2023 and 2024) show expenses exceeding revenue, leading to a decrease in assets from their peak.
- Lack of detailed expense breakdown (program, admin, fundraising) makes a full efficiency assessment challenging.
Strengths
The following positive indicators were identified for Edward J Madden Memorial Open:
- Consistently reports 0% officer compensation, indicating strong financial transparency and dedication to mission.
- Maintains a substantial asset base ($1,257,816 in 2024), providing financial stability.
- Low liabilities relative to assets across all reported periods, indicating good financial health.
- Significant asset growth observed between 2021 and 2022, demonstrating capacity for financial development.
Frequently Asked Questions about Edward J Madden Memorial Open
Is Edward J Madden Memorial Open a legitimate charity?
Based on AI analysis of IRS 990 filings, Edward J Madden Memorial Open (EIN: 111962110) some concerns. Mission Score: 85/100. 2 red flags identified, 4 strengths noted.
How does Edward J Madden Memorial Open spend its money?
Edward J Madden Memorial Open directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Edward J Madden Memorial Open tax-deductible?
Edward J Madden Memorial Open is registered as a tax-exempt nonprofit (EIN: 111962110). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Edward J Madden Memorial Open CEO make?
Edward J Madden Memorial Open's highest-compensated officer earns $1.2 annually. The organization reported $353K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Edward J Madden Memorial Open's spending goes to programs?
Edward J Madden Memorial Open directs 90% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Edward J Madden Memorial Open located?
Edward J Madden Memorial Open is headquartered in Dalton, Massachusetts and files with the IRS under EIN 111962110.
How many years of IRS 990 filings does Edward J Madden Memorial Open have?
Edward J Madden Memorial Open has 10 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 $353K in total revenue.
What is the specific mission of the Edward J Madden Memorial Open?
The provided data does not specify the exact mission or program activities of the Edward J Madden Memorial Open. Understanding its mission would allow for a more direct assessment of its program effectiveness.
Why did revenue spike significantly in 2022 to $796,032?
The data shows a substantial increase in revenue in 2022, reaching $796,032, compared to $223,907 in 2021. The reason for this significant spike is not detailed in the provided financial summary.
What are the primary categories of expenses for the organization?
While total expenses are provided, a detailed breakdown into program, administrative, and fundraising expenses is not available in the given data, making it difficult to fully assess spending efficiency beyond the lack of officer compensation.
How does the organization manage its significant asset base?
The organization holds substantial assets, reaching $1,524,646 in 2022 and $1,257,816 in 2024. The specific investment strategies or management of these assets are not detailed in the provided financial information.
Filing History
IRS 990 filing history for Edward J Madden Memorial Open showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2012–2024), Edward J Madden Memorial Open's revenue has declined by 42.9%, moving from $268K to $153K. Total assets increased by 398.7% over the same period, from $252K to $1.3M. Total functional expenses rose by 23.8%, from $207K to $257K. In its most recent filing year (2024), Edward J Madden Memorial Open reported a deficit of $104K, with expenses exceeding revenue. The organization holds $20K in liabilities against $1.3M in assets (debt-to-asset ratio: 1.6%), resulting in net assets of $1.2M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $153K | $257K | $1.3M | $20K | — | — |
| 2023 | $170K | $292K | $1.4M | $13K | — | View 990 |
| 2022 | $796K | $190K | $1.5M | $61K | — | View 990 |
| 2021 | $224K | $164K | $171K | $34K | — | View 990 |
| 2020 | $238K | $274K | $161K | $83K | — | View 990 |
| 2016 | $236K | $267K | $210K | $39K | — | View 990 |
| 2015 | $256K | $247K | $206K | $5K | — | View 990 |
| 2014 | $221K | $223K | $205K | $12K | — | View 990 |
| 2013 | $155K | $208K | $204K | $9K | — | View 990 |
| 2012 | $268K | $207K | $252K | $4K | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $153K, expenses of $257K, and assets of $1.3M (revenue -9.9% year-over-year).
- 2023: Revenue of $170K, expenses of $292K, and assets of $1.4M (revenue -78.6% year-over-year).
- 2022: Revenue of $796K, expenses of $190K, and assets of $1.5M (revenue +255.5% year-over-year).
- 2021: Revenue of $224K, expenses of $164K, and assets of $171K (revenue -5.9% year-over-year).
- 2020: Revenue of $238K, expenses of $274K, and assets of $161K (revenue +0.7% year-over-year).
- 2016: Revenue of $236K, expenses of $267K, and assets of $210K (revenue -7.6% year-over-year).
- 2015: Revenue of $256K, expenses of $247K, and assets of $206K (revenue +15.7% year-over-year).
- 2014: Revenue of $221K, expenses of $223K, and assets of $205K (revenue +42.1% year-over-year).
- 2013: Revenue of $155K, expenses of $208K, and assets of $204K (revenue -42.1% year-over-year).
- 2012: Revenue of $268K, expenses of $207K, and assets of $252K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Edward J Madden Memorial Open:
Data Sources and Methodology
This transparency report for Edward J Madden Memorial Open 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.