Greater Franklin Development Council
Greater Franklin Development Council shows strong revenue and asset growth with zero reported officer compensation.
EIN: 10524770 · Farmington, ME · NTEE: S30 · Updated: 2026-03-28
Is Greater Franklin Development Council Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Greater Franklin Development Council directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Greater Franklin Development Council
Greater Franklin Development Council (EIN: 10524770) is a nonprofit organization based in Farmington, ME, classified under NTEE code S30. The organization reported total revenue of $886K and total assets of $3.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Greater Franklin Development Council's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Greater Franklin Development Council is a small nonprofit that has been operating for 26 years, with 12 years of IRS 990 filings on record (2011–2022). Revenue has grown at a compound annual rate of 19.9%.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
| Total Revenue | $914K |
| Total Expenses | $198K |
| Surplus / Deficit | +$717K |
| Total Assets | $1.4M |
| Net Assets | $1.4M |
| Operating Margin | 78.4% |
| Months of Reserves | 82.3 months |
Financial Health Grade: A
In 2022, Greater Franklin Development Council reported a surplus of $717K with revenue exceeding expenses, holds 82.3 months of operating reserves (strong position).
Financial Trends
Over 12 years of filings (2011–2022), Greater Franklin Development Council's revenue has grown at a compound annual growth rate (CAGR) of 19.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2022 | +26.1% | -8.4% | +109.0% |
| 2021 | +234.3% | +2.3% | +196.9% |
| 2020 | +27.6% | -17.2% | -58.1% |
| 2019 | -24.5% | +32.6% | -13.7% |
| 2018 | -22.4% | -35.5% | +5.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2000 |
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 Franklin Development Council with a Mission Score of 95 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: 10%
- programs: 90%
- fundraising: 0%
According to IRS 990 filings, Greater Franklin Development Council allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $717K, with revenue exceeding expenses.
Executive Compensation Analysis
Executive compensation has consistently been reported as 0% across all available filings, indicating that the organization's leadership is either entirely volunteer-based or compensated through other means not categorized as officer compensation, which is highly favorable 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.
Strengths
The following positive indicators were identified for Greater Franklin Development Council:
- Strong revenue growth, increasing from $170,010 in 2019 to $914,212 in 2022.
- Significant asset growth, from $521,487 in 2019 to $1,354,830 in 2022.
- Consistently low or zero liabilities across all filing periods, indicating sound financial management.
- 0% reported officer compensation, suggesting high efficiency and dedication of leadership.
- Expenses consistently well below revenue, particularly in recent years (e.g., $197,522 expenses vs. $914,212 revenue in 2022).
Frequently Asked Questions about Greater Franklin Development Council
Is Greater Franklin Development Council a legitimate charity?
Based on AI analysis of IRS 990 filings, Greater Franklin Development Council (EIN: 10524770) appears legitimate. Mission Score: 95/100. 0 red flags identified, 5 strengths noted.
How does Greater Franklin Development Council spend its money?
Greater Franklin Development Council directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Greater Franklin Development Council tax-deductible?
Greater Franklin Development Council is registered as a tax-exempt nonprofit (EIN: 10524770). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Greater Franklin Development Council manage to have 0% officer compensation?
The filings consistently report 0% officer compensation, suggesting a volunteer-led executive team or that compensation is structured in a way not reported under this specific line item, which is highly efficient for the organization.
What caused the significant increase in revenue and assets between 2019 and 2022?
Revenue surged from $170,010 in 2019 to $914,212 in 2022, and assets grew from $521,487 to $1,354,830. This indicates successful fundraising, grant acquisition, or significant program expansion during this period.
What specific programs does Greater Franklin Development Council fund with its substantial revenue?
While the filings show strong financial health and growth, the specific programs funded are not detailed in the provided financial summary. Further investigation into their program activities would be needed.
Filing History
IRS 990 filing history for Greater Franklin Development Council showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2011–2022), Greater Franklin Development Council's revenue has grown by 635.6%, moving from $124K to $914K. Total assets increased by 1490.1% over the same period, from $85K to $1.4M. Total functional expenses rose by 64.7%, from $120K to $198K. In its most recent filing year (2022), Greater Franklin Development Council reported a surplus of $717K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2022 | $914K | $198K | $1.4M | $0 | — | View 990 |
| 2021 | $725K | $216K | $648K | $0 | — | View 990 |
| 2020 | $217K | $211K | $218K | $0 | — | View 990 |
| 2019 | $170K | $255K | $521K | $0 | — | View 990 |
| 2018 | $225K | $192K | $604K | $0 | — | View 990 |
| 2017 | $290K | $298K | $571K | $0 | — | View 990 |
| 2016 | $318K | $265K | $599K | $2K | — | View 990 |
| 2015 | $114K | $119K | $53K | $2K | — | View 990 |
| 2014 | $136K | $118K | $57K | $2K | — | View 990 |
| 2013 | $120K | $143K | $38K | $853 | — | View 990 |
| 2012 | $109K | $134K | $60K | $853 | — | View 990 |
| 2011 | $124K | $120K | $85K | $853 | — | View 990 |
Year-by-Year Financial Summary
- 2022: Revenue of $914K, expenses of $198K, and assets of $1.4M (revenue +26.1% year-over-year).
- 2021: Revenue of $725K, expenses of $216K, and assets of $648K (revenue +234.3% year-over-year).
- 2020: Revenue of $217K, expenses of $211K, and assets of $218K (revenue +27.6% year-over-year).
- 2019: Revenue of $170K, expenses of $255K, and assets of $521K (revenue -24.5% year-over-year).
- 2018: Revenue of $225K, expenses of $192K, and assets of $604K (revenue -22.4% year-over-year).
- 2017: Revenue of $290K, expenses of $298K, and assets of $571K (revenue -8.8% year-over-year).
- 2016: Revenue of $318K, expenses of $265K, and assets of $599K (revenue +178.6% year-over-year).
- 2015: Revenue of $114K, expenses of $119K, and assets of $53K (revenue -15.8% year-over-year).
- 2014: Revenue of $136K, expenses of $118K, and assets of $57K (revenue +13.1% year-over-year).
- 2013: Revenue of $120K, expenses of $143K, and assets of $38K (revenue +10.0% year-over-year).
- 2012: Revenue of $109K, expenses of $134K, and assets of $60K (revenue -12.2% year-over-year).
- 2011: Revenue of $124K, expenses of $120K, and assets of $85K.
Data Sources and Methodology
This transparency report for Greater Franklin Development Council 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.