Greater Bridgton Lakes Region Chamber Of Commerce
Greater Bridgton Lakes Region Chamber Of Commerce experiences significant financial fluctuations, with a substantial deficit in 2023 following a large surplus in 2022.
EIN: 10223446 · Bridgton, ME · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $141K |
| Total Expenses | $177K |
| Program Spending | 70% |
| Net Assets | $136K |
| Transparency Score | 65/100 |
Is Greater Bridgton Lakes Region Chamber Of Commerce Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Greater Bridgton Lakes Region Chamber Of Commerce directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Greater Bridgton Lakes Region Chamber Of Commerce
Greater Bridgton Lakes Region Chamber Of Commerce (EIN: 10223446) is a nonprofit organization based in Bridgton, ME. The organization reported total revenue of $141K and total assets of $30K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Greater Bridgton Lakes Region Chamber Of Commerce's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Greater Bridgton Lakes Region Chamber Of Commerce is a small nonprofit that has been operating for 43 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -1.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $84K |
| Total Expenses | $177K |
| Surplus / Deficit | $-93,065 |
| Total Assets | $160K |
| Total Liabilities | $24K |
| Net Assets | $136K |
| Operating Margin | -111.3% |
| Debt-to-Asset Ratio | 14.9% |
| Months of Reserves | 10.9 months |
Financial Health Grade: B
In 2023, Greater Bridgton Lakes Region Chamber Of Commerce reported a deficit of $93K with expenses exceeding revenue, holds 10.9 months of operating reserves (strong position), has a debt-to-asset ratio of 14.9% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Greater Bridgton Lakes Region Chamber Of Commerce's revenue has declined at a compound annual growth rate (CAGR) of -1.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -72.6% | +15.2% | -29.9% |
| 2022 | +147.7% | +58.6% | +66.8% |
| 2021 | +39.4% | -10.5% | +24.1% |
| 2020 | -41.3% | -28.5% | +17.1% |
| 2019 | +0.5% | -1.5% | -10.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 1983 |
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 Greater Bridgton Lakes Region Chamber Of Commerce 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: 20%
- programs: 70%
- fundraising: 10%
According to IRS 990 filings, Greater Bridgton Lakes Region Chamber Of Commerce allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $93K, with expenses exceeding revenue.
- Debt-to-asset ratio: 14.9%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no compensation was paid to officers, directors, trustees, or key employees, which is highly favorable for a small organization of this size.
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 Greater Bridgton Lakes Region Chamber Of Commerce's IRS 990 filings:
- Significant operating deficit in 2023 (Expenses $176,650 vs. Revenue $83,585)
- Volatile revenue streams, with a sharp drop from $305,187 in 2022 to $83,585 in 2023
- Fluctuating asset base, indicating potential instability in reserves or investments.
Strengths
The following positive indicators were identified for Greater Bridgton Lakes Region Chamber Of Commerce:
- Consistent reporting of 0% officer compensation, indicating strong transparency in executive pay.
- Demonstrated ability to generate substantial revenue in some periods, such as $305,187 in 2022.
- Generally low liabilities relative to assets in most reporting periods.
Frequently Asked Questions about Greater Bridgton Lakes Region Chamber Of Commerce
Is Greater Bridgton Lakes Region Chamber Of Commerce a legitimate charity?
Greater Bridgton Lakes Region Chamber Of Commerce (EIN: 10223446) is a registered tax-exempt nonprofit based in Maine. Our AI analysis gives it a Mission Score of 65/100. It has 13 years of IRS 990 filings on record. Total revenue: $141K. 3 red flags identified. 3 strengths noted. Financial health grade: B.
How does Greater Bridgton Lakes Region Chamber Of Commerce spend its money?
Greater Bridgton Lakes Region Chamber Of Commerce directs 70% of its spending to programs and services. Fundraising costs 10%. This meets the 65% industry benchmark.
Are donations to Greater Bridgton Lakes Region Chamber Of Commerce tax-deductible?
Greater Bridgton Lakes Region Chamber Of Commerce is registered as a tax-exempt nonprofit (EIN: 10223446). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Greater Bridgton Lakes Region Chamber Of Commerce's spending goes to programs?
Greater Bridgton Lakes Region Chamber Of Commerce directs 70% to programs, 10% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
Where is Greater Bridgton Lakes Region Chamber Of Commerce located?
Greater Bridgton Lakes Region Chamber Of Commerce is headquartered in Bridgton, Maine and files with the IRS under EIN 10223446.
How many years of IRS 990 filings does Greater Bridgton Lakes Region Chamber Of Commerce have?
Greater Bridgton Lakes Region Chamber Of Commerce has 13 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 $141K in total revenue.
Is Greater Bridgton Lakes Region Chamber Of Commerce financially stable?
The organization's financial stability appears inconsistent. While 2022 showed strong revenue ($305,187) and a healthy surplus, 2023 saw expenses ($176,650) more than double revenue ($83,585), leading to a significant deficit. This volatility suggests potential challenges in consistent funding or expense management.
What caused the large deficit in 2023?
Based solely on the provided 990 summary data, the exact cause of the 2023 deficit (expenses of $176,650 vs. revenue of $83,585) cannot be determined. It could be due to a one-time expense, a drop in membership or event revenue, or a strategic investment. Further detailed financial statements would be needed for a precise answer.
How does the organization manage its assets and liabilities?
Assets have fluctuated significantly, from $228,194 in 2022 to $159,933 in 2023, while liabilities have generally remained low, with a notable exception in 2021 ($60,405). The organization appears to maintain a relatively healthy asset-to-liability ratio in most years, though the recent asset decline warrants attention.
Filing History
IRS 990 filing history for Greater Bridgton Lakes Region Chamber Of Commerce showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Greater Bridgton Lakes Region Chamber Of Commerce's revenue has declined by 18.1%, moving from $102K to $84K. Total assets increased by 163.6% over the same period, from $61K to $160K. Total functional expenses rose by 57.1%, from $112K to $177K. In its most recent filing year (2023), Greater Bridgton Lakes Region Chamber Of Commerce reported a deficit of $93K, with expenses exceeding revenue. The organization holds $24K in liabilities against $160K in assets (debt-to-asset ratio: 14.9%), resulting in net assets of $136K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $84K | $177K | $160K | $24K | — | — |
| 2022 | $305K | $153K | $228K | $5 | — | View 990 |
| 2021 | $123K | $97K | $137K | $60K | — | View 990 |
| 2020 | $88K | $108K | $110K | $60K | — | View 990 |
| 2019 | $151K | $151K | $94K | $25K | — | View 990 |
| 2018 | $150K | $153K | $106K | $36K | — | View 990 |
| 2017 | $155K | $140K | $120K | $46K | — | View 990 |
| 2016 | $156K | $147K | $105K | $46K | — | View 990 |
| 2015 | $146K | $110K | $111K | $62K | — | View 990 |
| 2014 | $131K | $114K | $84K | $70K | — | View 990 |
| 2013 | $126K | $105K | $74K | $80K | — | View 990 |
| 2012 | $86K | $102K | $40K | $67K | — | View 990 |
| 2011 | $102K | $112K | $61K | $72K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $84K, expenses of $177K, and assets of $160K (revenue -72.6% year-over-year).
- 2022: Revenue of $305K, expenses of $153K, and assets of $228K (revenue +147.7% year-over-year).
- 2021: Revenue of $123K, expenses of $97K, and assets of $137K (revenue +39.4% year-over-year).
- 2020: Revenue of $88K, expenses of $108K, and assets of $110K (revenue -41.3% year-over-year).
- 2019: Revenue of $151K, expenses of $151K, and assets of $94K (revenue +0.5% year-over-year).
- 2018: Revenue of $150K, expenses of $153K, and assets of $106K (revenue -3.2% year-over-year).
- 2017: Revenue of $155K, expenses of $140K, and assets of $120K (revenue -0.7% year-over-year).
- 2016: Revenue of $156K, expenses of $147K, and assets of $105K (revenue +6.5% year-over-year).
- 2015: Revenue of $146K, expenses of $110K, and assets of $111K (revenue +11.5% year-over-year).
- 2014: Revenue of $131K, expenses of $114K, and assets of $84K (revenue +4.2% year-over-year).
- 2013: Revenue of $126K, expenses of $105K, and assets of $74K (revenue +46.0% year-over-year).
- 2012: Revenue of $86K, expenses of $102K, and assets of $40K (revenue -15.5% year-over-year).
- 2011: Revenue of $102K, expenses of $112K, and assets of $61K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Greater Bridgton Lakes Region Chamber Of Commerce:
Data Sources and Methodology
This transparency report for Greater Bridgton Lakes Region Chamber Of Commerce 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.