Franklin County Agricultural Society
Franklin County Agricultural Society maintains stable finances with zero liabilities and no officer compensation.
EIN: 10225008 · Farmington, ME · Updated: 2026-03-28
Is Franklin County Agricultural Society Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Franklin County Agricultural Society directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Franklin County Agricultural Society
Franklin County Agricultural Society (EIN: 10225008) is a nonprofit organization based in Farmington, ME. The organization reported total revenue of $1.1M and total assets of $398K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Franklin County Agricultural Society's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Franklin County Agricultural Society is a mid-size nonprofit that has been operating for 87 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 3.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.0M |
| Total Expenses | $886K |
| Surplus / Deficit | +$116K |
| Total Assets | $320K |
| Net Assets | $320K |
| Operating Margin | 11.6% |
| Months of Reserves | 4.3 months |
Financial Health Grade: A
In 2023, Franklin County Agricultural Society reported a surplus of $116K with revenue exceeding expenses, holds 4.3 months of operating reserves (adequate).
Financial Trends
Over 13 years of filings (2011–2023), Franklin County Agricultural Society's revenue has grown at a compound annual growth rate (CAGR) of 3.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +8.7% | +8.2% | +6.5% |
| 2022 | +25.3% | +15.4% | -64.8% |
| 2021 | +290.1% | +497.8% | +3.2% |
| 2020 | -75.8% | -83.9% | +9.2% |
| 2019 | +3.8% | -0.8% | +5.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1939 |
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 Franklin County Agricultural Society with a Mission Score of 92 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, Franklin County Agricultural Society 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 surplus of $116K, with revenue exceeding expenses.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that its leadership is likely volunteer-based, which is highly efficient and directs more funds to its 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.
Strengths
The following positive indicators were identified for Franklin County Agricultural Society:
- Zero Liabilities: Consistently reported $0 liabilities across all 13 filings, indicating exceptional financial health and no debt.
- No Officer Compensation: 0% officer compensation reported, suggesting a highly efficient, volunteer-led organization.
- Consistent Revenue Generation: Maintained a strong and generally growing revenue stream, with latest revenue at $1,068,170.
- Strong Asset Base: Maintains a healthy asset base, with assets at $397,904 in the latest period.
- Regular IRS 990 Filings: A history of 13 filings demonstrates commitment to transparency and compliance.
Frequently Asked Questions about Franklin County Agricultural Society
Is Franklin County Agricultural Society a legitimate charity?
Based on AI analysis of IRS 990 filings, Franklin County Agricultural Society (EIN: 10225008) appears legitimate. Mission Score: 92/100. 0 red flags identified, 5 strengths noted.
How does Franklin County Agricultural Society spend its money?
Franklin County Agricultural Society directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Franklin County Agricultural Society tax-deductible?
Franklin County Agricultural Society is registered as a tax-exempt nonprofit (EIN: 10225008). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Franklin County Agricultural Society financially stable?
Yes, the organization appears financially stable. It consistently generates revenue, maintains a positive asset base (latest assets: $397,904), and has reported zero liabilities across all 13 filings, indicating a very strong balance sheet.
How does Franklin County Agricultural Society manage its expenses?
The organization manages its expenses efficiently, with expenses generally tracking closely with revenue. For example, in 2023, expenses were $885,591 against $1,002,029 in revenue, suggesting most funds are used for operational activities rather than excessive accumulation or waste.
Does Franklin County Agricultural Society pay its officers?
No, the available IRS 990 data consistently shows 0% officer compensation, suggesting a volunteer-driven leadership structure.
Filing History
IRS 990 filing history for Franklin County Agricultural Society showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Franklin County Agricultural Society's revenue has grown by 51.5%, moving from $662K to $1.0M. Total assets decreased by 58.2% over the same period, from $766K to $320K. Total functional expenses rose by 38%, from $642K to $886K. In its most recent filing year (2023), Franklin County Agricultural Society reported a surplus of $116K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.0M | $886K | $320K | $0 | — | — |
| 2022 | $922K | $818K | $300K | $0 | — | View 990 |
| 2021 | $736K | $709K | $854K | $0 | — | View 990 |
| 2020 | $189K | $119K | $828K | $0 | — | — |
| 2019 | $780K | $738K | $758K | $0 | — | — |
| 2018 | $752K | $744K | $716K | $0 | — | View 990 |
| 2017 | $648K | $641K | $710K | $0 | — | — |
| 2016 | $660K | $666K | $701K | $0 | — | View 990 |
| 2015 | $728K | $731K | $730K | $0 | — | View 990 |
| 2014 | $657K | $647K | $734K | $0 | — | View 990 |
| 2013 | $675K | $663K | $722K | $152 | — | View 990 |
| 2012 | $657K | $697K | $716K | $5K | — | View 990 |
| 2011 | $662K | $642K | $766K | $15K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.0M, expenses of $886K, and assets of $320K (revenue +8.7% year-over-year).
- 2022: Revenue of $922K, expenses of $818K, and assets of $300K (revenue +25.3% year-over-year).
- 2021: Revenue of $736K, expenses of $709K, and assets of $854K (revenue +290.1% year-over-year).
- 2020: Revenue of $189K, expenses of $119K, and assets of $828K (revenue -75.8% year-over-year).
- 2019: Revenue of $780K, expenses of $738K, and assets of $758K (revenue +3.8% year-over-year).
- 2018: Revenue of $752K, expenses of $744K, and assets of $716K (revenue +15.9% year-over-year).
- 2017: Revenue of $648K, expenses of $641K, and assets of $710K (revenue -1.7% year-over-year).
- 2016: Revenue of $660K, expenses of $666K, and assets of $701K (revenue -9.4% year-over-year).
- 2015: Revenue of $728K, expenses of $731K, and assets of $730K (revenue +10.8% year-over-year).
- 2014: Revenue of $657K, expenses of $647K, and assets of $734K (revenue -2.6% year-over-year).
- 2013: Revenue of $675K, expenses of $663K, and assets of $722K (revenue +2.6% year-over-year).
- 2012: Revenue of $657K, expenses of $697K, and assets of $716K (revenue -0.6% year-over-year).
- 2011: Revenue of $662K, expenses of $642K, and assets of $766K.
Data Sources and Methodology
This transparency report for Franklin County Agricultural Society 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.