Industrial Development Corporation Of Sanford

Industrial Development Corporation Of Sanford consistently grows assets with zero reported officer compensation.

EIN: 16019454 · Sanford, ME · NTEE: S41 · Updated: 2026-03-28

$139KRevenue

$5.3MAssets

95/100Mission Score (Excellent)

S41

About Industrial Development Corporation Of Sanford

Industrial Development Corporation Of Sanford (EIN: 16019454) is a nonprofit organization based in Sanford, ME, classified under NTEE code S41. The organization reported total revenue of $139K and total assets of $5.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Industrial Development Corporation Of Sanford's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

The Industrial Development Corporation Of Sanford demonstrates consistent financial stability, with assets steadily growing from $2,762,007 in 2014 to $4,625,739 in 2023. The organization consistently operates with a positive net income, as evidenced by revenues generally exceeding expenses, such as $102,452 in revenue against $37,485 in expenses in 2023. This indicates effective management of resources. The absence of reported officer compensation across all available filings suggests a volunteer-driven leadership or that compensation is covered by another entity, which can contribute to lower administrative costs and higher program efficiency. The organization's NTEE code S41 (Community Development Corporations) aligns with its name, suggesting a clear programmatic focus. The organization's financial health appears robust, with a strong asset base relative to its annual revenue and expenses, indicating long-term sustainability.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Industrial Development Corporation Of Sanford 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, Industrial Development Corporation Of Sanford 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.

Executive Compensation Analysis

Executive compensation is reported as 0% across all available filings, indicating that officers are either unpaid volunteers or compensated through an external arrangement, which significantly reduces administrative overhead for the organization itself.

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 Industrial Development Corporation Of Sanford:

Consistent asset growth, from $2,762,007 in 2014 to $4,625,739 in 2023.
Zero reported officer compensation across all filings, indicating high efficiency.
Revenues consistently exceed expenses, demonstrating strong financial management (e.g., $102,452 revenue vs. $37,485 expenses in 2023).
Low liabilities relative to assets, indicating financial stability (e.g., $5,000 liabilities vs. $4,625,739 assets in 2023).
Stable and predictable financial performance over a long period (13 filings).

Frequently Asked Questions about Industrial Development Corporation Of Sanford

Is Industrial Development Corporation Of Sanford a good charity?

Based on the provided data, the organization appears to be a very good charity. It consistently grows its assets, operates efficiently with revenues exceeding expenses, and reports 0% officer compensation, suggesting a strong commitment to its mission with minimal administrative burden.

How has the organization's financial health changed over time?

The organization's financial health has consistently improved, with assets growing from $2,762,007 in 2014 to $4,625,739 in 2023. Revenue has also shown a general upward trend, while expenses have remained relatively stable, leading to consistent positive net income.

What is the organization's primary source of funding?

While specific funding sources are not detailed in the provided data, the consistent revenue generation, coupled with asset growth, suggests a stable funding base, likely from grants, investments, or other community development related income streams.

Filing History

IRS 990 filing history for Industrial Development Corporation Of Sanford showing financial trends over 13 years of public records:

Over 13 years of IRS 990 filings (2010–2023), Industrial Development Corporation Of Sanford's revenue has grown by 414.7%, moving from $20K to $102K. Total assets increased by 91.1% over the same period, from $2.4M to $4.6M. Total functional expenses fell by 30.4%, from $54K to $37K. In its most recent filing year (2023), Industrial Development Corporation Of Sanford reported a surplus of $65K, with revenue exceeding expenses. The organization holds $5K in liabilities against $4.6M in assets (debt-to-asset ratio: 0.1%), resulting in net assets of $4.6M.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$102K	$37K	$4.6M	$5K	—	View 990
2022	$101K	$32K	$4.3M	$5K	—	View 990
2021	$98K	$34K	$4.6M	$0	—	View 990
2020	$95K	$38K	$3.8M	$0	—	View 990
2019	$91K	$42K	$3.6M	$0	—	View 990
2018	$60K	$39K	$3.2M	$-500	—	View 990
2017	$81K	$34K	$3.3M	$0	—	View 990
2016	$33K	$59K	$3.0M	$0	—	View 990
2015	$31K	$33K	$2.8M	$0	—	View 990
2014	$20K	$38K	$2.8M	$0	—	View 990
2013	$23K	$47K	$2.8M	$0	—	View 990
2011	$20K	$63K	$2.5M	$0	—	View 990
2010	$20K	$54K	$2.4M	$0	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $102K, expenses of $37K, and assets of $4.6M (revenue +1.6% year-over-year).
2022: Revenue of $101K, expenses of $32K, and assets of $4.3M (revenue +3.2% year-over-year).
2021: Revenue of $98K, expenses of $34K, and assets of $4.6M (revenue +2.9% year-over-year).
2020: Revenue of $95K, expenses of $38K, and assets of $3.8M (revenue +3.9% year-over-year).
2019: Revenue of $91K, expenses of $42K, and assets of $3.6M (revenue +53.2% year-over-year).
2018: Revenue of $60K, expenses of $39K, and assets of $3.2M (revenue -26.6% year-over-year).
2017: Revenue of $81K, expenses of $34K, and assets of $3.3M (revenue +145.8% year-over-year).
2016: Revenue of $33K, expenses of $59K, and assets of $3.0M (revenue +7.3% year-over-year).
2015: Revenue of $31K, expenses of $33K, and assets of $2.8M (revenue +55.2% year-over-year).
2014: Revenue of $20K, expenses of $38K, and assets of $2.8M (revenue -14.6% year-over-year).
2013: Revenue of $23K, expenses of $47K, and assets of $2.8M (revenue +17.0% year-over-year).
2011: Revenue of $20K, expenses of $63K, and assets of $2.5M (revenue -0.1% year-over-year).
2010: Revenue of $20K, expenses of $54K, and assets of $2.4M.

Data Sources and Methodology

This transparency report for Industrial Development Corporation Of Sanford 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.