Gorham Business Exchange
Gorham Business Exchange faces significant financial decline with revenue falling to $8,847 and assets shrinking to $2,202 in 2021.
EIN: 10488013 · Gorham, ME · NTEE: S41 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $9K |
| Total Expenses | $17K |
| Program Spending | 80% |
| Net Assets | $2K |
| Transparency Score | 45/100 |
Is Gorham Business Exchange Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Gorham Business Exchange directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Gorham Business Exchange
Gorham Business Exchange (EIN: 10488013) is a nonprofit organization based in Gorham, ME, classified under NTEE code S41. The organization reported total revenue of $9K and total assets of $2K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Gorham Business Exchange's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Gorham Business Exchange is a micro nonprofit that has been operating for 18 years, with 11 years of IRS 990 filings on record (2011–2021). Revenue has grown at a compound annual rate of -15.4%.
Key Financial Metrics (2021)
From the most recent IRS 990 filing on record:
| Total Revenue | $9K |
| Total Expenses | $17K |
| Surplus / Deficit | $-8,602 |
| Total Assets | $2K |
| Net Assets | $2K |
| Operating Margin | -97.2% |
| Months of Reserves | 1.5 months |
Financial Health Grade: C
In 2021, Gorham Business Exchange reported a deficit of $9K with expenses exceeding revenue, holds 1.5 months of operating reserves (limited).
Financial Trends
Over 11 years of filings (2011–2021), Gorham Business Exchange's revenue has declined at a compound annual growth rate (CAGR) of -15.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2021 | -58.9% | -49.5% | -85.1% |
| 2020 | -56.8% | -31.1% | -24.9% |
| 2019 | -8.8% | -9.4% | -1.8% |
| 2018 | +22.5% | +22.1% | -3.9% |
| 2017 | -5.6% | +9.8% | -5.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2008 |
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 Gorham Business Exchange with a Mission Score of 45 out of 100 (Fair). 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, Gorham Business Exchange 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 (2021)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $9K, with expenses exceeding revenue.
Executive Compensation Analysis
Executive compensation has consistently been reported as 0% across all available filings, indicating that the organization's leadership is either volunteer-based or compensated through other means not categorized as officer compensation, which is positive for 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 Gorham Business Exchange's IRS 990 filings:
- Consistent operating deficits: Expenses ($17,449 in 2021) significantly exceed revenue ($8,847 in 2021).
- Sharp decline in revenue: Revenue dropped from $49,738 in 2019 to $8,847 in 2021.
- Depleting assets: Assets have decreased from $22,104 in 2016 to $2,202 in 2021, indicating a lack of financial reserves.
Strengths
The following positive indicators were identified for Gorham Business Exchange:
- No reported officer compensation: Officer compensation has consistently been 0%, indicating efficient use of funds in this area.
- No reported liabilities: The organization consistently reports $0 in liabilities, suggesting good debt management.
Frequently Asked Questions about Gorham Business Exchange
Is Gorham Business Exchange a legitimate charity?
Gorham Business Exchange (EIN: 10488013) is a registered tax-exempt nonprofit based in Maine. Our AI analysis gives it a Mission Score of 45/100. It has 11 years of IRS 990 filings on record. Total revenue: $9K. 3 red flags identified. 2 strengths noted. Financial health grade: C.
How does Gorham Business Exchange spend its money?
Gorham Business Exchange directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Gorham Business Exchange tax-deductible?
Gorham Business Exchange is registered as a tax-exempt nonprofit (EIN: 10488013). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Gorham Business Exchange's spending goes to programs?
Gorham Business Exchange directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Gorham Business Exchange compare to similar nonprofits?
With a transparency score of 45/100 (Fair), Gorham Business Exchange is near average for NTEE category S41 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Gorham Business Exchange located?
Gorham Business Exchange is headquartered in Gorham, Maine and files with the IRS under EIN 10488013. It is classified under NTEE code S41.
How many years of IRS 990 filings does Gorham Business Exchange have?
Gorham Business Exchange has 11 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 $9K in total revenue.
Is Gorham Business Exchange a good charity?
While the organization has a history of operations and reports no officer compensation, its recent financial performance shows significant decline, with expenses consistently exceeding revenue and assets depleting. This raises concerns about its long-term sustainability and ability to effectively deliver on its mission.
What caused the sharp decline in revenue from $49,738 in 2019 to $8,847 in 2021?
The provided data does not specify the exact causes, but the dramatic drop in revenue from $49,738 in 2019 to $21,506 in 2020 and further to $8,847 in 2021 suggests a significant disruption to its funding sources or operational capacity.
How does the organization plan to address its consistent operating deficits?
The filings show that expenses ($17,449) significantly outpaced revenue ($8,847) in 2021. Without further information, it's unclear what strategies the organization is employing to reverse this trend and achieve financial stability.
Filing History
IRS 990 filing history for Gorham Business Exchange showing financial trends over 11 years of public records:
Over 11 years of IRS 990 filings (2011–2021), Gorham Business Exchange's revenue has declined by 81.3%, moving from $47K to $9K. Total assets decreased by 87.8% over the same period, from $18K to $2K. Total functional expenses fell by 58.3%, from $42K to $17K. In its most recent filing year (2021), Gorham Business Exchange reported a deficit of $9K, with expenses exceeding revenue.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2021 | $9K | $17K | $2K | $0 | — | View 990 |
| 2020 | $22K | $35K | $15K | $0 | — | View 990 |
| 2019 | $50K | $50K | $20K | $0 | — | View 990 |
| 2018 | $55K | $55K | $20K | $0 | — | View 990 |
| 2017 | $44K | $45K | $21K | $0 | — | — |
| 2016 | $47K | $41K | $22K | $0 | — | View 990 |
| 2015 | $61K | $60K | $16K | $0 | — | View 990 |
| 2014 | $41K | $42K | $15K | $0 | — | View 990 |
| 2013 | $42K | $44K | $16K | $0 | — | View 990 |
| 2012 | $46K | $46K | $18K | $0 | — | View 990 |
| 2011 | $47K | $42K | $18K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2021: Revenue of $9K, expenses of $17K, and assets of $2K (revenue -58.9% year-over-year).
- 2020: Revenue of $22K, expenses of $35K, and assets of $15K (revenue -56.8% year-over-year).
- 2019: Revenue of $50K, expenses of $50K, and assets of $20K (revenue -8.8% year-over-year).
- 2018: Revenue of $55K, expenses of $55K, and assets of $20K (revenue +22.5% year-over-year).
- 2017: Revenue of $44K, expenses of $45K, and assets of $21K (revenue -5.6% year-over-year).
- 2016: Revenue of $47K, expenses of $41K, and assets of $22K (revenue -23.0% year-over-year).
- 2015: Revenue of $61K, expenses of $60K, and assets of $16K (revenue +48.2% year-over-year).
- 2014: Revenue of $41K, expenses of $42K, and assets of $15K (revenue -0.5% year-over-year).
- 2013: Revenue of $42K, expenses of $44K, and assets of $16K (revenue -10.1% year-over-year).
- 2012: Revenue of $46K, expenses of $46K, and assets of $18K (revenue -2.2% year-over-year).
- 2011: Revenue of $47K, expenses of $42K, and assets of $18K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Gorham Business Exchange:
Data Sources and Methodology
This transparency report for Gorham Business Exchange 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.