Greater Franklin Development Corporation
Greater Franklin Development Corporation reports $0 revenue and assets in its latest filing, indicating potential dormancy.
EIN: 10524769 · Farmington, ME · Updated: 2026-03-28
Is Greater Franklin Development Corporation Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Greater Franklin Development Corporation
Greater Franklin Development Corporation (EIN: 10524769) is a nonprofit organization based in Farmington, ME. The organization reported total revenue of $0 and total assets of $0 according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Greater Franklin Development Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Greater Franklin Development Corporation is a small nonprofit, with 5 years of IRS 990 filings on record (2011–2015). Revenue has grown at a compound annual rate of -3.9%.
Key Financial Metrics (2015)
From the most recent IRS 990 filing on record:
| Total Revenue | $166K |
| Total Expenses | $141K |
| Surplus / Deficit | +$25K |
| Total Assets | $517K |
| Net Assets | $517K |
| Operating Margin | 15.0% |
| Months of Reserves | 44.0 months |
Financial Health Grade: A
In 2015, Greater Franklin Development Corporation reported a surplus of $25K with revenue exceeding expenses, holds 44.0 months of operating reserves (strong position).
Financial Trends
Over 5 years of filings (2011–2015), Greater Franklin Development Corporation's revenue has declined at a compound annual growth rate (CAGR) of -3.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2015 | -35.3% | -23.9% | -11.5% |
| 2014 | -0.2% | +24.4% | +0.3% |
| 2013 | +12.2% | +5.8% | +5.7% |
| 2012 | +17.6% | -4.1% | +5.6% |
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Greater Franklin Development Corporation with a Mission Score of 20 out of 100 (Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 0%
- programs: 0%
- fundraising: 0%
According to IRS 990 filings, Greater Franklin Development Corporation allocates its expenses as follows: admin: 0%, programs: 0%, fundraising: 0%.
Key Financial Metrics (2015)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $25K, with revenue exceeding expenses.
Executive Compensation Analysis
Officer compensation was consistently reported as 0% in all available historical filings, indicating that no officers received compensation from the organization during those periods. This suggests a volunteer-led or very lean operational structure in the past.
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 Franklin Development Corporation's IRS 990 filings:
- Latest filing shows $0 revenue and $0 assets, indicating potential inactivity or dissolution.
- Significant and unexplained financial decline from historical activity to current dormancy.
Strengths
The following positive indicators were identified for Greater Franklin Development Corporation:
- Historically maintained positive net assets, ranging from $205,957 (2011) to $516,696 (2015).
- Consistently reported 0% officer compensation in historical filings, suggesting efficient use of funds for leadership.
Frequently Asked Questions about Greater Franklin Development Corporation
Is Greater Franklin Development Corporation a legitimate charity?
Based on AI analysis of IRS 990 filings, Greater Franklin Development Corporation (EIN: 10524769) significant concerns. Mission Score: 20/100. 2 red flags identified, 2 strengths noted.
How does Greater Franklin Development Corporation spend its money?
Detailed spending breakdown data is not yet available for Greater Franklin Development Corporation. Check back for updated IRS 990 analysis.
Are donations to Greater Franklin Development Corporation tax-deductible?
Greater Franklin Development Corporation is registered as a tax-exempt nonprofit (EIN: 10524769). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What caused the sudden drop to $0 in revenue and assets for Greater Franklin Development Corporation?
The provided IRS 990 data does not specify the reason for the sudden decline to $0 in revenue and assets. This could indicate a cessation of operations, a merger, or a significant change in reporting status.
Is Greater Franklin Development Corporation still an active organization?
Based on the latest filing showing $0 revenue and assets, it is highly probable that Greater Franklin Development Corporation is no longer actively operating or has significantly scaled down its activities to a dormant state.
What was the historical program spending efficiency of Greater Franklin Development Corporation?
Without a detailed breakdown of expenses into program, administrative, and fundraising categories from the historical filings, it is not possible to accurately determine the historical program spending efficiency. The provided data only shows total expenses.
Filing History
IRS 990 filing history for Greater Franklin Development Corporation showing financial trends over 5 years of public records:
Over 5 years of IRS 990 filings (2011–2015), Greater Franklin Development Corporation's revenue has declined by 14.8%, moving from $195K to $166K. Total assets decreased by 0.8% over the same period, from $521K to $517K. Total functional expenses fell by 4%, from $147K to $141K. In its most recent filing year (2015), Greater Franklin Development Corporation reported a surplus of $25K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2015 | $166K | $141K | $517K | $0 | — | View 990 |
| 2014 | $256K | $185K | $584K | $92K | — | View 990 |
| 2013 | $257K | $149K | $582K | $180K | — | View 990 |
| 2012 | $229K | $141K | $550K | $256K | — | View 990 |
| 2011 | $195K | $147K | $521K | $315K | — | View 990 |
Year-by-Year Financial Summary
- 2015: Revenue of $166K, expenses of $141K, and assets of $517K (revenue -35.3% year-over-year).
- 2014: Revenue of $256K, expenses of $185K, and assets of $584K (revenue -0.2% year-over-year).
- 2013: Revenue of $257K, expenses of $149K, and assets of $582K (revenue +12.2% year-over-year).
- 2012: Revenue of $229K, expenses of $141K, and assets of $550K (revenue +17.6% year-over-year).
- 2011: Revenue of $195K, expenses of $147K, and assets of $521K.
Data Sources and Methodology
This transparency report for Greater Franklin Development Corporation 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.