Fore River Foundation
Fore River Foundation consistently operates at a deficit, drawing down assets over recent years.
EIN: 10421912 · Portland, ME · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $2.5M |
| Total Expenses | $1.6M |
| Program Spending | 80% |
| Net Assets | $2.8M |
| Transparency Score | 65/100 |
Is Fore River Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Fore River Foundation directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Fore River Foundation
Fore River Foundation (EIN: 10421912) is a nonprofit organization based in Portland, ME. The organization reported total revenue of $2.5M and total assets of $2.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Fore River Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Fore River Foundation is a mid-size nonprofit that has been operating for 38 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 10.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.2M |
| Total Expenses | $1.6M |
| Surplus / Deficit | $-376,796 |
| Total Assets | $2.8M |
| Total Liabilities | $1 |
| Net Assets | $2.8M |
| Operating Margin | -30.7% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 21.1 months |
Financial Health Grade: B
In 2023, Fore River Foundation reported a deficit of $377K with expenses exceeding revenue, holds 21.1 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), Fore River Foundation's revenue has grown at a compound annual growth rate (CAGR) of 10.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +19.3% | -13.7% | -11.8% |
| 2022 | -12.5% | +37.9% | -20.6% |
| 2021 | +7.9% | +9.5% | -4.1% |
| 2020 | +39.1% | -14.5% | -2.8% |
| 2019 | +22.1% | +149.1% | +1.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1988 |
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 Fore River Foundation 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, Fore River Foundation 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.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $377K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
The Fore River Foundation consistently reports 0% officer compensation across all available filings, suggesting either a fully volunteer executive leadership or that executive compensation is categorized under other expense lines, which warrants further clarification.
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 Fore River Foundation's IRS 990 filings:
- Consistent deficit spending, with expenses exceeding revenue in 8 out of 10 reported years, leading to asset depletion.
- Significant decline in assets from $4,326,565 in 2019 to $2,823,159 in 2023, indicating an unsustainable financial trend.
- Lack of detailed expense breakdown (program, admin, fundraising) makes it difficult to fully assess spending efficiency.
Strengths
The following positive indicators were identified for Fore River Foundation:
- Minimal liabilities, consistently reported as $1 in recent years, indicating good debt management.
- Consistent filing of IRS 990s over 10 years, demonstrating a commitment to transparency.
- Zero reported officer compensation, which could indicate a highly dedicated volunteer leadership or efficient use of funds if compensation is truly absent.
Frequently Asked Questions about Fore River Foundation
Is Fore River Foundation a legitimate charity?
Fore River Foundation (EIN: 10421912) is a registered tax-exempt nonprofit based in Maine. Our AI analysis gives it a Mission Score of 65/100. It has 10 years of IRS 990 filings on record. Total revenue: $2.5M. 3 red flags identified. 3 strengths noted. Financial health grade: B.
How does Fore River Foundation spend its money?
Fore River Foundation directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Fore River Foundation tax-deductible?
Fore River Foundation is registered as a tax-exempt nonprofit (EIN: 10421912). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Fore River Foundation's spending goes to programs?
Fore River Foundation directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Fore River Foundation located?
Fore River Foundation is headquartered in Portland, Maine and files with the IRS under EIN 10421912.
How many years of IRS 990 filings does Fore River Foundation have?
Fore River Foundation 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 $2.5M in total revenue.
How does Fore River Foundation sustain its operations given consistent deficit spending, such as the $376,796 deficit in 2023?
The organization appears to be funding its operations by drawing down its assets, which have decreased from $4,326,565 in 2019 to $2,823,159 in 2023.
What is the specific breakdown of program, administrative, and fundraising expenses?
The provided data only includes total expenses. A detailed breakdown is needed to assess spending efficiency accurately.
Who leads the organization if officer compensation is consistently reported as 0%?
This suggests either a volunteer-led executive team or that compensation is reported under different expense categories, which is not clear from the available data.
Filing History
IRS 990 filing history for Fore River Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Fore River Foundation's revenue has grown by 238.7%, moving from $363K to $1.2M. Total assets decreased by 19.2% over the same period, from $3.5M to $2.8M. Total functional expenses rose by 328.5%, from $375K to $1.6M. In its most recent filing year (2023), Fore River Foundation reported a deficit of $377K, with expenses exceeding revenue. The organization holds $1 in liabilities against $2.8M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $2.8M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.2M | $1.6M | $2.8M | $1 | — | View 990 |
| 2022 | $1.0M | $1.9M | $3.2M | $1 | — | View 990 |
| 2021 | $1.2M | $1.3M | $4.0M | $1 | — | View 990 |
| 2020 | $1.1M | $1.2M | $4.2M | $1 | — | — |
| 2019 | $783K | $1.4M | $4.3M | $1 | — | View 990 |
| 2015 | $641K | $579K | $4.2M | $1 | — | View 990 |
| 2014 | $591K | $554K | $4.2M | $1 | — | View 990 |
| 2013 | $805K | $518K | $4.2M | $10K | — | View 990 |
| 2012 | $551K | $475K | $3.7M | $0 | — | View 990 |
| 2011 | $363K | $375K | $3.5M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.2M, expenses of $1.6M, and assets of $2.8M (revenue +19.3% year-over-year).
- 2022: Revenue of $1.0M, expenses of $1.9M, and assets of $3.2M (revenue -12.5% year-over-year).
- 2021: Revenue of $1.2M, expenses of $1.3M, and assets of $4.0M (revenue +7.9% year-over-year).
- 2020: Revenue of $1.1M, expenses of $1.2M, and assets of $4.2M (revenue +39.1% year-over-year).
- 2019: Revenue of $783K, expenses of $1.4M, and assets of $4.3M (revenue +22.1% year-over-year).
- 2015: Revenue of $641K, expenses of $579K, and assets of $4.2M (revenue +8.4% year-over-year).
- 2014: Revenue of $591K, expenses of $554K, and assets of $4.2M (revenue -26.6% year-over-year).
- 2013: Revenue of $805K, expenses of $518K, and assets of $4.2M (revenue +46.3% year-over-year).
- 2012: Revenue of $551K, expenses of $475K, and assets of $3.7M (revenue +51.8% year-over-year).
- 2011: Revenue of $363K, expenses of $375K, and assets of $3.5M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Fore River Foundation:
Data Sources and Methodology
This transparency report for Fore River 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.