Eighty Two High Street Inc
Eighty Two High Street Inc: Declining Revenue, High Administrative Costs
EIN: 222951366 · Farmington, ME · Updated: 2026-04-04
Is Eighty Two High Street Inc Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Eighty Two High Street Inc
Eighty Two High Street Inc (EIN: 222951366) is a nonprofit organization based in Farmington, ME. The organization reported total revenue of $203K and total assets of $1.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Eighty Two High Street Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Eighty Two High Street Inc is a small nonprofit that has been operating for 37 years, with 13 years of IRS 990 filings on record (2010–2022). Revenue has grown at a compound annual rate of -1.3%.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
| Total Revenue | $172K |
| Total Expenses | $253K |
| Surplus / Deficit | $-81,273 |
| Total Assets | $1.9M |
| Total Liabilities | $952K |
| Net Assets | $936K |
| Operating Margin | -47.3% |
| Debt-to-Asset Ratio | 50.4% |
| Months of Reserves | 89.6 months |
Financial Health Grade: C
In 2022, Eighty Two High Street Inc reported a deficit of $81K with expenses exceeding revenue, holds 89.6 months of operating reserves (strong position), has a debt-to-asset ratio of 50.4% (high leverage).
Financial Trends
Over 13 years of filings (2010–2022), Eighty Two High Street Inc's revenue has declined at a compound annual growth rate (CAGR) of -1.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2022 | -2.3% | +24.0% | -6.3% |
| 2021 | +9.9% | -8.2% | -14.6% |
| 2020 | +6.0% | -3.7% | -3.1% |
| 2019 | -7.7% | +9.2% | +47.4% |
| 2018 | +668.5% | +306.0% | -12.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1989 |
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 Eighty Two High Street Inc with a Mission Score of 45 out of 100 (Fair). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 100%
- programs: 0%
- fundraising: 0%
According to IRS 990 filings, Eighty Two High Street Inc allocates its expenses as follows: admin: 100%, programs: 0%, fundraising: 0%.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $81K, with expenses exceeding revenue.
- Debt-to-asset ratio: 50.4%.
Executive Compensation Analysis
Executive compensation is not reported in the provided 990-EZ filings, making it impossible to assess.
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 Eighty Two High Street Inc's IRS 990 filings:
- Zero reported program service expenses across all available years, despite significant total expenses (e.g., $252,967 in 2022).
- Consistent reporting of 'no program service accomplishments' on Form 990-EZ.
- Significant decline in revenue from $1,200,819 in 2016 to $171,694 in 2022.
- High administrative expenses relative to total expenses, as all reported expenses are categorized as 'other expenses' on the 990-EZ, implying administrative or operational costs.
Strengths
The following positive indicators were identified for Eighty Two High Street Inc:
- The organization maintains a substantial asset base, with total assets of $1,888,331 in 2022.
Frequently Asked Questions about Eighty Two High Street Inc
Is Eighty Two High Street Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Eighty Two High Street Inc (EIN: 222951366) significant concerns. Mission Score: 45/100. 4 red flags identified, 1 strength noted.
How does Eighty Two High Street Inc spend its money?
Detailed spending breakdown data is not yet available for Eighty Two High Street Inc. Check back for updated IRS 990 analysis.
Are donations to Eighty Two High Street Inc tax-deductible?
Eighty Two High Street Inc is registered as a tax-exempt nonprofit (EIN: 222951366). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What does Eighty Two High Street Inc do?
Eighty Two High Street Inc is a nonprofit organization in the Unknown sector, located in Farmington, Maine. It is classified under NTEE code Unknown.
How much revenue does Eighty Two High Street Inc have?
Eighty Two High Street Inc reported total revenue of $203,225. Based on 13 IRS 990 filings on record.
What are Eighty Two High Street Inc's total assets?
Eighty Two High Street Inc holds total assets of $1,765,023 as reported in IRS 990 filings.
Where is Eighty Two High Street Inc located?
Eighty Two High Street Inc is based in Farmington, Maine.
What is Eighty Two High Street Inc's EIN?
Eighty Two High Street Inc's Employer Identification Number (EIN) is 222951366. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Eighty Two High Street Inc?
Eighty Two High Street Inc is classified under NTEE code Unknown (Unknown).
Is Eighty Two High Street Inc a registered 501(c)(3)?
Eighty Two High Street Inc appears in IRS records (EIN: 222951366). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does Eighty Two High Street Inc file IRS Form 990?
Yes, Eighty Two High Street Inc has 13 IRS Form 990 filings on record. The most recent covers tax period 202212.
What was Eighty Two High Street Inc's revenue in 2022?
In the 202212 filing period, Eighty Two High Street Inc reported total revenue of $171,694, total expenses of $252,967, and net assets of $1,888,331.
Is Eighty Two High Street Inc's revenue growing or declining?
Eighty Two High Street Inc's revenue is relatively stable. Revenue went from $175,776 (202112) to $171,694 (202212), a -2.3% change. Based on 13 filings on record.
What is Eighty Two High Street Inc's most recent 990 filing?
The most recent IRS Form 990 filing for Eighty Two High Street Inc covers tax period 202212. It shows revenue of $171,694, expenses of $252,967, total assets of $1,888,331, and liabilities of $952,112.
Is Eighty Two High Street Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, Eighty Two High Street Inc shows mixed signals. Mission Score: 45/100 (Fair). 4 red flags identified. 1 strength noted.
What are the red flags for Eighty Two High Street Inc?
The following concerns were identified: Zero reported program service expenses across all available years, despite significant total expenses (e.g., $252,967 in 2022).. Consistent reporting of 'no program service accomplishments' on Form 990-EZ.. Significant decline in revenue from $1,200,819 in 2016 to $171,694 in 2022.. High administrative expenses relative to total expenses, as all reported expenses are categorized as 'other expenses' on the 990-EZ, implying administrative or operational costs.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Eighty Two High Street Inc's strengths?
Positive indicators for Eighty Two High Street Inc include: The organization maintains a substantial asset base, with total assets of $1,888,331 in 2022.. These findings are derived from AI analysis of the organization's financial filings.
How does Eighty Two High Street Inc compensate executives?
Executive compensation is not reported in the provided 990-EZ filings, making it impossible to assess. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the consistent reporting of zero program service expenses and accomplishments, what is the primary charitable purpose or activity of Eighty Two High Street Inc?
Based on the available 990-EZ filings, the primary charitable purpose or activity is unclear, as no program service expenses or accomplishments are detailed. All reported expenses fall under 'other expenses,' suggesting operational or administrative focus rather than direct program delivery.
How does Eighty Two High Street Inc justify its tax-exempt status without any reported program service expenses or accomplishments?
The justification for tax-exempt status without reported program service expenses or accomplishments is not evident from the provided data. Organizations typically need to demonstrate activities that further their exempt purpose to maintain their status.
Filing History
IRS 990 filing history for Eighty Two High Street Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2010–2022), Eighty Two High Street Inc's revenue has declined by 14.1%, moving from $200K to $172K. Total assets increased by 872.2% over the same period, from $194K to $1.9M. Total functional expenses rose by 48.7%, from $170K to $253K. In its most recent filing year (2022), Eighty Two High Street Inc reported a deficit of $81K, with expenses exceeding revenue. The organization holds $952K in liabilities against $1.9M in assets (debt-to-asset ratio: 50.4%), resulting in net assets of $936K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2022 | $172K | $253K | $1.9M | $952K | — | View 990 |
| 2021 | $176K | $204K | $2.0M | $997K | — | View 990 |
| 2020 | $160K | $222K | $2.4M | $1.3M | — | View 990 |
| 2019 | $151K | $231K | $2.4M | $1.3M | — | View 990 |
| 2018 | $163K | $211K | $1.7M | $463K | — | View 990 |
| 2017 | $21K | $52K | $1.9M | $650K | — | View 990 |
| 2016 | $1.2M | $123K | $2.0M | $707K | — | View 990 |
| 2015 | $358K | $169K | $493K | $304K | — | View 990 |
| 2014 | $165K | $132K | $173K | $227K | — | View 990 |
| 2013 | $151K | $137K | $173K | $227K | — | View 990 |
| 2012 | $161K | $157K | $175K | $244K | — | View 990 |
| 2011 | $149K | $163K | $179K | $250K | — | View 990 |
| 2010 | $200K | $170K | $194K | $251K | — | View 990 |
Year-by-Year Financial Summary
- 2022: Revenue of $172K, expenses of $253K, and assets of $1.9M (revenue -2.3% year-over-year).
- 2021: Revenue of $176K, expenses of $204K, and assets of $2.0M (revenue +9.9% year-over-year).
- 2020: Revenue of $160K, expenses of $222K, and assets of $2.4M (revenue +6.0% year-over-year).
- 2019: Revenue of $151K, expenses of $231K, and assets of $2.4M (revenue -7.7% year-over-year).
- 2018: Revenue of $163K, expenses of $211K, and assets of $1.7M (revenue +668.5% year-over-year).
- 2017: Revenue of $21K, expenses of $52K, and assets of $1.9M (revenue -98.2% year-over-year).
- 2016: Revenue of $1.2M, expenses of $123K, and assets of $2.0M (revenue +235.1% year-over-year).
- 2015: Revenue of $358K, expenses of $169K, and assets of $493K (revenue +117.8% year-over-year).
- 2014: Revenue of $165K, expenses of $132K, and assets of $173K (revenue +9.1% year-over-year).
- 2013: Revenue of $151K, expenses of $137K, and assets of $173K (revenue -6.1% year-over-year).
- 2012: Revenue of $161K, expenses of $157K, and assets of $175K (revenue +7.8% year-over-year).
- 2011: Revenue of $149K, expenses of $163K, and assets of $179K (revenue -25.5% year-over-year).
- 2010: Revenue of $200K, expenses of $170K, and assets of $194K.
Data Sources and Methodology
This transparency report for Eighty Two High Street 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.