Elmina B Sewall Foundation
Elmina B Sewall Foundation maintains substantial assets while experiencing volatile revenue and consistent grant-making expenses.
EIN: 10387404 · Freeport, ME · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $33.7M |
| Total Expenses | $16.2M |
| Program Spending | 90% |
| Net Assets | $160.1M |
| Transparency Score | 85/100 |
Is Elmina B Sewall Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Elmina B Sewall Foundation directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Elmina B Sewall Foundation
Elmina B Sewall Foundation (EIN: 10387404) is a nonprofit organization based in Freeport, ME. The organization reported total revenue of $33.7M and total assets of $164.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Elmina B Sewall Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Elmina B Sewall Foundation is a large nonprofit that has been operating for 43 years, with 11 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -3.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $5.3M |
| Total Expenses | $16.2M |
| Surplus / Deficit | $-10,905,101 |
| Total Assets | $170.6M |
| Total Liabilities | $10.4M |
| Net Assets | $160.1M |
| Operating Margin | -206.0% |
| Debt-to-Asset Ratio | 6.1% |
| Months of Reserves | 126.4 months |
Financial Health Grade: B
In 2023, Elmina B Sewall Foundation reported a deficit of $10.9M with expenses exceeding revenue, holds 126.4 months of operating reserves (strong position), has a debt-to-asset ratio of 6.1% (very low leverage).
Financial Trends
Over 11 years of filings (2011–2023), Elmina B Sewall Foundation's revenue has declined at a compound annual growth rate (CAGR) of -3.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2022 | -130.2% | +9.6% | -20.6% |
| 2021 | -33.9% | -11.8% | +5.7% |
| 2020 | +403.6% | +2345.0% | +4.5% |
| 2019 | -80.0% | -94.9% | +5.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1983 |
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 Elmina B Sewall Foundation 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: 7%
- programs: 90%
- fundraising: 3%
According to IRS 990 filings, Elmina B Sewall Foundation allocates its expenses as follows: admin: 7%, programs: 90%, fundraising: 3%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $10.9M, with expenses exceeding revenue.
- Debt-to-asset ratio: 6.1%.
Executive Compensation Analysis
The IRS 990 filings consistently report 0% officer compensation, indicating that direct compensation to officers is either non-existent, paid by a related entity, or not reported in this specific field, which warrants further investigation for complete transparency.
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 Elmina B Sewall Foundation's IRS 990 filings:
- Consistent 0% officer compensation reported, which may obscure actual executive remuneration if paid by a related entity or through other means.
- Significant fluctuations in annual revenue, including negative revenue, which while common for foundations, highlights reliance on investment performance.
Strengths
The following positive indicators were identified for Elmina B Sewall Foundation:
- Substantial asset base of $170,578,667 in the latest period, indicating strong financial stability.
- Consistent high level of expenses (likely program grants), demonstrating active fulfillment of its mission.
- Long filing history (11 filings) suggests established operations and compliance.
Frequently Asked Questions about Elmina B Sewall Foundation
Is Elmina B Sewall Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Elmina B Sewall Foundation (EIN: 10387404) some concerns. Mission Score: 85/100. 2 red flags identified, 3 strengths noted.
How does Elmina B Sewall Foundation spend its money?
Elmina B Sewall Foundation directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Elmina B Sewall Foundation tax-deductible?
Elmina B Sewall Foundation is registered as a tax-exempt nonprofit (EIN: 10387404). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Elmina B Sewall Foundation's spending goes to programs?
Elmina B Sewall Foundation directs 90% to programs, 3% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Elmina B Sewall Foundation located?
Elmina B Sewall Foundation is headquartered in Freeport, Maine and files with the IRS under EIN 10387404.
How many years of IRS 990 filings does Elmina B Sewall Foundation have?
Elmina B Sewall Foundation has 11 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 $33.7M in total revenue.
Is Elmina B Sewall Foundation a good charity?
Based on the available data, the foundation appears to be a well-endowed grant-making organization with a consistent history of distributing funds. Its substantial assets and consistent expenses (likely grants) suggest a stable operation focused on its mission. The lack of reported officer compensation is unusual and would require further investigation to fully assess.
Why is the revenue so volatile, including negative revenue in 2022?
As a foundation, a significant portion of its revenue likely comes from investment returns. Market fluctuations can lead to highly variable revenue, including negative returns in down years, as seen with the $-3,635,299 in 2022.
What is the nature of the 'Officer Comp=0%' across all filings?
This could mean that the foundation's officers are unpaid volunteers, compensated by a related entity, or that their compensation is reported under a different category not captured by the 'Officer Comp' field in this summary. It's an area that would benefit from more detailed disclosure for full transparency.
Filing History
IRS 990 filing history for Elmina B Sewall Foundation showing financial trends over 11 years of public records:
Over 11 years of IRS 990 filings (2011–2023), Elmina B Sewall Foundation's revenue has declined by 32.6%, moving from $7.9M to $5.3M. Total assets increased by 13% over the same period, from $150.9M to $170.6M. Total functional expenses rose by 78.3%, from $9.1M to $16.2M. In its most recent filing year (2023), Elmina B Sewall Foundation reported a deficit of $10.9M, with expenses exceeding revenue. The organization holds $10.4M in liabilities against $170.6M in assets (debt-to-asset ratio: 6.1%), resulting in net assets of $160.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $5.3M | $16.2M | $170.6M | $10.4M | — | View 990 |
| 2022 | $-3,635,299 | $14.1M | $166.6M | $378K | — | View 990 |
| 2021 | $12.0M | $12.9M | $209.8M | $1.7M | — | View 990 |
| 2020 | $18.2M | $14.6M | $198.4M | $2.0M | — | View 990 |
| 2019 | $3.6M | $598K | $189.8M | $1.7M | — | View 990 |
| 2019 | $18.1M | $11.8M | $180.0M | $1.7M | — | View 990 |
| 2015 | $9.6M | $10.1M | $170.9M | $484K | — | View 990 |
| 2014 | $14.8M | $9.5M | $188.1M | $1.0M | — | View 990 |
| 2013 | $21.4M | $10.6M | $183.2M | $133K | — | View 990 |
| 2012 | $12.0M | $9.3M | $166.9M | $248K | — | View 990 |
| 2011 | $7.9M | $9.1M | $150.9M | $241K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $5.3M, expenses of $16.2M, and assets of $170.6M.
- 2022: Revenue of $-3,635,299, expenses of $14.1M, and assets of $166.6M (revenue -130.2% year-over-year).
- 2021: Revenue of $12.0M, expenses of $12.9M, and assets of $209.8M (revenue -33.9% year-over-year).
- 2020: Revenue of $18.2M, expenses of $14.6M, and assets of $198.4M (revenue +403.6% year-over-year).
- 2019: Revenue of $3.6M, expenses of $598K, and assets of $189.8M (revenue -80.0% year-over-year).
- 2019: Revenue of $18.1M, expenses of $11.8M, and assets of $180.0M (revenue +87.4% year-over-year).
- 2015: Revenue of $9.6M, expenses of $10.1M, and assets of $170.9M (revenue -34.7% year-over-year).
- 2014: Revenue of $14.8M, expenses of $9.5M, and assets of $188.1M (revenue -31.1% year-over-year).
- 2013: Revenue of $21.4M, expenses of $10.6M, and assets of $183.2M (revenue +77.9% year-over-year).
- 2012: Revenue of $12.0M, expenses of $9.3M, and assets of $166.9M (revenue +53.3% year-over-year).
- 2011: Revenue of $7.9M, expenses of $9.1M, and assets of $150.9M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Elmina B Sewall Foundation:
Data Sources and Methodology
This transparency report for Elmina B Sewall Foundation 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.