Fryeburg Academy Alumni Association
Fryeburg Academy Alumni Association shows asset growth despite volatile revenue and occasional operating deficits.
EIN: 10423877 · Fryeburg, ME · NTEE: T70Z · Updated: 2026-03-28
Is Fryeburg Academy Alumni Association Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Fryeburg Academy Alumni Association directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Fryeburg Academy Alumni Association
Fryeburg Academy Alumni Association (EIN: 10423877) is a nonprofit organization based in Fryeburg, ME, classified under NTEE code T70Z. The organization reported total revenue of $74K and total assets of $317K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Fryeburg Academy Alumni Association's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Fryeburg Academy Alumni Association is a micro nonprofit that has been operating for 28 years, with 12 years of IRS 990 filings on record (2012–2023).
Financial Trends
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -162.4% | +10.4% | -9.0% |
| 2022 | -89.6% | +37.2% | -2.3% |
| 2021 | +683.3% | -20.8% | +44.0% |
| 2020 | -36.8% | +28.7% | -1.4% |
| 2019 | -17.2% | -11.7% | +4.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1998 |
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 Fryeburg Academy Alumni Association with a Mission Score of 75 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, Fryeburg Academy Alumni Association 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:
Executive Compensation Analysis
The organization reports 0% officer compensation across all available filings, indicating that executive leadership is either volunteer-based or compensated through other means not classified as officer compensation, which is positive for resource allocation to programs.
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 Fryeburg Academy Alumni Association's IRS 990 filings:
- Significant revenue volatility, including negative revenue in 2023 ($-8,290).
- Expenses exceeded revenue in multiple recent periods (e.g., 2023, 2022, 2020, 2017), indicating reliance on reserves.
Strengths
The following positive indicators were identified for Fryeburg Academy Alumni Association:
- Consistent asset growth over the past decade, from $215,356 in 2014 to $317,041 currently.
- Zero reported liabilities across all filings, indicating a debt-free financial position.
- 0% officer compensation, suggesting efficient use of funds for mission-related activities.
- Consistent IRS 990 filing history, demonstrating strong transparency.
Frequently Asked Questions about Fryeburg Academy Alumni Association
Is Fryeburg Academy Alumni Association a legitimate charity?
Based on AI analysis of IRS 990 filings, Fryeburg Academy Alumni Association (EIN: 10423877) some concerns. Mission Score: 75/100. 2 red flags identified, 4 strengths noted.
How does Fryeburg Academy Alumni Association spend its money?
Fryeburg Academy Alumni Association directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Fryeburg Academy Alumni Association tax-deductible?
Fryeburg Academy Alumni Association is registered as a tax-exempt nonprofit (EIN: 10423877). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Fryeburg Academy Alumni Association a good charity?
The Fryeburg Academy Alumni Association appears to be a well-managed organization in terms of financial stability (zero liabilities, growing assets) and dedication to its mission (no officer compensation). However, its recent revenue volatility could pose challenges for consistent program delivery.
What caused the significant revenue drop in 2022 and negative revenue in 2023?
The provided data does not specify the exact causes. The drop from $127,090 in 2021 to $13,277 in 2022 and then to $-8,290 in 2023 suggests a potential one-time large donation in 2021 that wasn't sustained, or significant returns/adjustments in 2023.
How does the organization sustain operations with negative revenue?
In periods of negative revenue, such as 2023, the organization likely covers its expenses ($23,716) by drawing from its accumulated assets, which stood at $324,206 at the end of that period. This is sustainable in the short term due to its healthy asset base.
Filing History
IRS 990 filing history for Fryeburg Academy Alumni Association showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2012–2023), Fryeburg Academy Alumni Association's revenue has declined by 135.4%, moving from $23K to $-8,290. Total assets increased by 55.4% over the same period, from $209K to $324K. Total functional expenses rose by 30.9%, from $18K to $24K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $-8,290 | $24K | $324K | $0 | — | View 990 |
| 2022 | $13K | $21K | $356K | $0 | — | View 990 |
| 2021 | $127K | $16K | $364K | $0 | — | View 990 |
| 2020 | $16K | $20K | $253K | $0 | — | View 990 |
| 2019 | $26K | $15K | $257K | $0 | — | View 990 |
| 2018 | $31K | $17K | $246K | $0 | — | View 990 |
| 2017 | $16K | $19K | $233K | $0 | — | View 990 |
| 2016 | $25K | $16K | $235K | $0 | — | View 990 |
| 2015 | $27K | $16K | $227K | $0 | — | View 990 |
| 2014 | $21K | $16K | $215K | $0 | — | View 990 |
| 2013 | $16K | $15K | $210K | $0 | — | View 990 |
| 2012 | $23K | $18K | $209K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $-8,290, expenses of $24K, and assets of $324K (revenue -162.4% year-over-year).
- 2022: Revenue of $13K, expenses of $21K, and assets of $356K (revenue -89.6% year-over-year).
- 2021: Revenue of $127K, expenses of $16K, and assets of $364K (revenue +683.3% year-over-year).
- 2020: Revenue of $16K, expenses of $20K, and assets of $253K (revenue -36.8% year-over-year).
- 2019: Revenue of $26K, expenses of $15K, and assets of $257K (revenue -17.2% year-over-year).
- 2018: Revenue of $31K, expenses of $17K, and assets of $246K (revenue +90.8% year-over-year).
- 2017: Revenue of $16K, expenses of $19K, and assets of $233K (revenue -35.1% year-over-year).
- 2016: Revenue of $25K, expenses of $16K, and assets of $235K (revenue -8.0% year-over-year).
- 2015: Revenue of $27K, expenses of $16K, and assets of $227K (revenue +27.1% year-over-year).
- 2014: Revenue of $21K, expenses of $16K, and assets of $215K (revenue +35.9% year-over-year).
- 2013: Revenue of $16K, expenses of $15K, and assets of $210K (revenue -32.9% year-over-year).
- 2012: Revenue of $23K, expenses of $18K, and assets of $209K.
Data Sources and Methodology
This transparency report for Fryeburg Academy Alumni Association 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.