Fairhaven Residents Association Inc

Fairhaven Residents Association consistently operates near break-even with no officer compensation and minimal liabilities.

EIN: 10608536 · Sykesville, MD · NTEE: P99 · Updated: 2026-03-26

$169KRevenue

$452KAssets

85/100Mission Score (Excellent)

P99

About Fairhaven Residents Association Inc

Fairhaven Residents Association Inc (EIN: 10608536) is a nonprofit organization based in Sykesville, MD, classified under NTEE code P99. The organization reported total revenue of $169K and total assets of $452K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Fairhaven Residents Association Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

The Fairhaven Residents Association Inc. demonstrates a consistent financial pattern, operating with revenues generally in line with or slightly below expenses in recent years. For example, in 2023, revenue was $175,201 against expenses of $183,472, and in 2022, revenue was $168,567 against expenses of $186,823. This indicates a tight operational budget, though the organization maintains a healthy asset base, with $446,915 in assets in 2023 and $452,394 currently. The consistent reporting of zero liabilities in most recent filings (2017-2023) suggests strong financial management regarding debt. The organization's transparency is bolstered by its consistent filing of IRS Form 990s, with 13 filings available, indicating a commitment to public disclosure. The absence of officer compensation further enhances its transparency and suggests a volunteer-driven leadership structure, which is common for smaller community associations.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Fairhaven Residents Association Inc 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: 10%
programs: 90%
fundraising: 0%

According to IRS 990 filings, Fairhaven Residents Association Inc allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.

Executive Compensation Analysis

Executive compensation is reported as 0% across all available filings, indicating that the organization's leadership is entirely volunteer-based, which is a positive sign for donor confidence and resource allocation.

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 Fairhaven Residents Association Inc's IRS 990 filings:

Consistent slight operating deficits in recent years (e.g., 2023 expenses $183,472 vs. revenue $175,201), which could erode assets over time if not managed.

Strengths

The following positive indicators were identified for Fairhaven Residents Association Inc:

Zero officer compensation, indicating a volunteer-driven leadership.
Consistently low to zero liabilities, demonstrating strong debt management.
Healthy asset base relative to annual revenue, providing financial cushion.
Consistent IRS 990 filing history (13 filings), indicating strong transparency.

Frequently Asked Questions about Fairhaven Residents Association Inc

Is Fairhaven Residents Association Inc. financially stable?

Yes, despite operating near break-even or with slight deficits in some years (e.g., 2023 expenses exceeded revenue by $8,271), the organization maintains a strong asset base ($446,915 in 2023) and consistently reports zero liabilities, indicating good financial health and no reliance on debt.

How does Fairhaven Residents Association Inc. spend its money?

Based on the absence of officer compensation and typical operations of a residents association, it's highly probable that the vast majority of expenses are directed towards program services and administrative overhead, with no dedicated fundraising expenses reported.

Does Fairhaven Residents Association Inc. have paid executives?

No, the IRS 990 filings consistently show 0% officer compensation, indicating that the organization's executives and officers are unpaid volunteers.

What is the trend in the organization's revenue and expenses?

Revenue and expenses have generally been stable in recent years, hovering around $170,000-$180,000, with expenses often slightly exceeding revenue. There was a notable increase in both revenue and expenses from 2019 ($64,707 revenue) to 2020 ($179,536 revenue).

Filing History

IRS 990 filing history for Fairhaven Residents Association Inc showing financial trends over 13 years of public records:

Over 13 years of IRS 990 filings (2011–2023), Fairhaven Residents Association Inc's revenue has grown by 265.5%, moving from $48K to $175K. Total assets increased by 32.6% over the same period, from $337K to $447K. Total functional expenses rose by 239.9%, from $54K to $183K. In its most recent filing year (2023), Fairhaven Residents Association Inc reported a deficit of $8K, with expenses exceeding revenue.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$175K	$183K	$447K	$0	—	—
2022	$169K	$187K	$419K	$0	—	View 990
2021	$181K	$217K	$512K	$0	—	View 990
2020	$180K	$169K	$519K	$0	—	—
2019	$65K	$130K	$383K	$0	—	View 990
2018	$65K	$126K	$389K	$0	—	View 990
2017	$52K	$54K	$466K	$0	—	View 990
2016	$47K	$47K	$434K	$0	—	View 990
2015	$58K	$36K	$422K	$5K	—	View 990
2014	$59K	$64K	$399K	$0	—	View 990
2013	$53K	$44K	$385K	$0	—	View 990
2012	$55K	$43K	$348K	$0	—	View 990
2011	$48K	$54K	$337K	$0	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $175K, expenses of $183K, and assets of $447K (revenue +3.9% year-over-year).
2022: Revenue of $169K, expenses of $187K, and assets of $419K (revenue -7.0% year-over-year).
2021: Revenue of $181K, expenses of $217K, and assets of $512K (revenue +0.9% year-over-year).
2020: Revenue of $180K, expenses of $169K, and assets of $519K (revenue +177.5% year-over-year).
2019: Revenue of $65K, expenses of $130K, and assets of $383K (revenue -1.1% year-over-year).
2018: Revenue of $65K, expenses of $126K, and assets of $389K (revenue +24.6% year-over-year).
2017: Revenue of $52K, expenses of $54K, and assets of $466K (revenue +12.3% year-over-year).
2016: Revenue of $47K, expenses of $47K, and assets of $434K (revenue -19.4% year-over-year).
2015: Revenue of $58K, expenses of $36K, and assets of $422K (revenue -2.5% year-over-year).
2014: Revenue of $59K, expenses of $64K, and assets of $399K (revenue +12.3% year-over-year).
2013: Revenue of $53K, expenses of $44K, and assets of $385K (revenue -3.6% year-over-year).
2012: Revenue of $55K, expenses of $43K, and assets of $348K (revenue +14.6% year-over-year).
2011: Revenue of $48K, expenses of $54K, and assets of $337K.

Data Sources and Methodology

This transparency report for Fairhaven Residents Association 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.