Guilford Development Corp

Guilford Development Corp maintains consistent revenue but faces persistent negative net assets due to high liabilities.

EIN: 10282197 · Guilford, ME · Updated: 2026-03-28

$313KRevenue

$571KAssets

60/100Mission Score (Good)

About Guilford Development Corp

Guilford Development Corp (EIN: 10282197) is a nonprofit organization based in Guilford, ME. The organization reported total revenue of $313K and total assets of $571K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Guilford Development Corp's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

Guilford Development Corp appears to be a stable organization with consistent revenue streams, averaging around $330,000-$340,000 annually over the past decade. However, a significant concern is the organization's long-term financial health, as its liabilities have consistently exceeded its assets, indicating a negative net asset position. For instance, in 2022, assets were $647,797 while liabilities stood at $1,162,831. This trend of increasing liabilities relative to assets over time suggests potential solvency issues or a reliance on debt financing.

Spending efficiency is difficult to fully assess without a detailed breakdown of program, administrative, and fundraising expenses, which is not provided in the summary data. However, the organization generally spends close to its revenue, with expenses often slightly exceeding or closely matching revenue, as seen in 2022 where revenue was $332,939 and expenses were $330,738. The consistent reporting of 0% officer compensation across all available filings suggests good transparency regarding executive pay, or that executive roles are unpaid, which is a positive indicator for donor trust. However, the overall financial structure with high liabilities warrants closer examination.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Guilford Development Corp with a Mission Score of 60 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, Guilford Development Corp 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.

Executive Compensation Analysis

The organization consistently reports 0% officer compensation across all available filings, indicating either that executive roles are unpaid or that compensation is not reported under this category, which is a strong positive for transparency and resource allocation relative to its 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 Guilford Development Corp's IRS 990 filings:

Persistent negative net assets (liabilities consistently exceed assets)
Long-term trend of increasing liabilities relative to assets
Lack of detailed expense breakdown (program, admin, fundraising) in provided data

Strengths

The following positive indicators were identified for Guilford Development Corp:

Consistent annual revenue stream over the past decade
Reported 0% officer compensation, indicating efficient use of funds or volunteer leadership
Stable expense levels closely matching revenue, suggesting operational control

Frequently Asked Questions about Guilford Development Corp

What is the nature of Guilford Development Corp's significant liabilities?

The provided data consistently shows liabilities significantly exceeding assets (e.g., $1,162,831 in liabilities vs. $647,797 in assets in 2022). Understanding the composition of these liabilities (e.g., mortgages, program-related investments, or other debt) is crucial for assessing long-term financial stability.

How does Guilford Development Corp manage its negative net asset position?

With liabilities consistently higher than assets, the organization operates with a negative net asset balance. It's important to understand how this is sustained and what strategies are in place to address this financial structure.

What are the specific program activities funded by Guilford Development Corp?

Without NTEE code or program details, it's unclear what specific development programs the organization undertakes. A clearer understanding of its mission-related activities would help evaluate its impact.

Filing History

IRS 990 filing history for Guilford Development Corp showing financial trends over 12 years of public records:

Over 12 years of IRS 990 filings (2011–2022), Guilford Development Corp's revenue has declined by 2.2%, moving from $340K to $333K. Total assets decreased by 31.4% over the same period, from $944K to $648K. Total functional expenses fell by 3.4%, from $342K to $331K. In its most recent filing year (2022), Guilford Development Corp reported a surplus of $2K, with revenue exceeding expenses. The organization holds $1.2M in liabilities against $648K in assets (debt-to-asset ratio: 179.5%), resulting in net assets of $-515,034.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2022	$333K	$331K	$648K	$1.2M	—	View 990
2021	$334K	$338K	$674K	$1.2M	—	View 990
2020	$338K	$354K	$722K	$1.2M	—	View 990
2019	$346K	$347K	$772K	$1.3M	—	—
2018	$345K	$342K	$810K	$1.3M	—	View 990
2017	$342K	$330K	$839K	$1.3M	—	—
2016	$342K	$319K	$858K	$1.4M	—	View 990
2015	$348K	$336K	$864K	$1.4M	—	View 990
2014	$335K	$342K	$877K	$1.4M	—	View 990
2013	$333K	$332K	$908K	$1.4M	—	View 990
2012	$335K	$331K	$927K	$1.5M	—	View 990
2011	$340K	$342K	$944K	$1.5M	—	View 990

Year-by-Year Financial Summary

2022: Revenue of $333K, expenses of $331K, and assets of $648K (revenue -0.3% year-over-year).
2021: Revenue of $334K, expenses of $338K, and assets of $674K (revenue -1.2% year-over-year).
2020: Revenue of $338K, expenses of $354K, and assets of $722K (revenue -2.3% year-over-year).
2019: Revenue of $346K, expenses of $347K, and assets of $772K (revenue +0.2% year-over-year).
2018: Revenue of $345K, expenses of $342K, and assets of $810K (revenue +0.8% year-over-year).
2017: Revenue of $342K, expenses of $330K, and assets of $839K (revenue +0.0% year-over-year).
2016: Revenue of $342K, expenses of $319K, and assets of $858K (revenue -1.6% year-over-year).
2015: Revenue of $348K, expenses of $336K, and assets of $864K (revenue +3.9% year-over-year).
2014: Revenue of $335K, expenses of $342K, and assets of $877K (revenue +0.4% year-over-year).
2013: Revenue of $333K, expenses of $332K, and assets of $908K (revenue -0.5% year-over-year).
2012: Revenue of $335K, expenses of $331K, and assets of $927K (revenue -1.5% year-over-year).
2011: Revenue of $340K, expenses of $342K, and assets of $944K.

Data Sources and Methodology

This transparency report for Guilford Development Corp 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.