Ferndale Downtown Developmentassociation
Ferndale Downtown Development Association faces significant revenue decline and operational deficit in 2023 after strong 2022.
EIN: 208688675 · Ferndale, WA · NTEE: S80 · Updated: 2026-03-28
Is Ferndale Downtown Developmentassociation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Ferndale Downtown Developmentassociation directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Ferndale Downtown Developmentassociation
Ferndale Downtown Developmentassociation (EIN: 208688675) is a nonprofit organization based in Ferndale, WA, classified under NTEE code S80. The organization reported total revenue of $141K and total assets of $339K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Ferndale Downtown Developmentassociation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Ferndale Downtown Developmentassociation 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: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Ferndale Downtown Developmentassociation allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Executive Compensation Analysis
Executive compensation is reported as 0% in both available filings, suggesting either a volunteer-led organization or that compensation is not reported under 'officer compensation,' which is a positive indicator for resource allocation directly to mission.
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 Ferndale Downtown Developmentassociation's IRS 990 filings:
- Significant year-over-year revenue volatility (from $894,209 to $117,926).
- Substantial operational deficit in 2023 ($117,926 revenue vs. $247,576 expenses).
- Decrease in total assets from $474,363 in 2022 to $345,047 in 2023.
Strengths
The following positive indicators were identified for Ferndale Downtown Developmentassociation:
- Reported 0% officer compensation in both filings, indicating efficient use of funds or volunteer leadership.
- Relatively low liabilities compared to assets, despite recent increases.
Frequently Asked Questions about Ferndale Downtown Developmentassociation
Is Ferndale Downtown Developmentassociation a legitimate charity?
Based on AI analysis of IRS 990 filings, Ferndale Downtown Developmentassociation (EIN: 208688675) some concerns. Mission Score: 65/100. 3 red flags identified, 2 strengths noted.
How does Ferndale Downtown Developmentassociation spend its money?
Ferndale Downtown Developmentassociation directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Ferndale Downtown Developmentassociation tax-deductible?
Ferndale Downtown Developmentassociation is registered as a tax-exempt nonprofit (EIN: 208688675). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What caused the drastic revenue drop from $894,209 in 2022 to $117,926 in 2023?
The filings do not provide specific details for this significant revenue fluctuation, but it warrants further investigation into funding sources and operational changes.
How does the organization plan to address the 2023 deficit where expenses ($247,576) significantly exceeded revenue ($117,926)?
The filings do not outline specific plans, but this deficit indicates a need for strategic financial planning to ensure long-term viability.
Is the organization primarily volunteer-run, given the 0% officer compensation?
The 0% officer compensation suggests a volunteer-led structure or that compensation is categorized differently, which is generally positive for direct program spending.
Filing History
IRS 990 filing history for Ferndale Downtown Developmentassociation showing financial trends over 2 years of public records:
Over 2 years of IRS 990 filings (2022–2023), Ferndale Downtown Developmentassociation's revenue has declined by 86.8%, moving from $894K to $118K. Total assets decreased by 27.3% over the same period, from $474K to $345K. Total functional expenses fell by 41.1%, from $420K to $248K. In its most recent filing year (2023), Ferndale Downtown Developmentassociation reported a deficit of $130K, with expenses exceeding revenue. The organization holds $480 in liabilities against $345K in assets (debt-to-asset ratio: 0.1%), resulting in net assets of $345K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $118K | $248K | $345K | $480 | — | — |
| 2022 | $894K | $420K | $474K | $362 | — | View 990 |
Data Sources and Methodology
This transparency report for Ferndale Downtown Developmentassociation 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.