Katahdin Friends Inc

Katahdin Friends Inc. consistently allocates over 90% of expenses to programs with zero reported officer compensation.

EIN: 10267689 · Millinocket, ME · NTEE: P820 · Updated: 2026-03-28

$8.1MRevenue

$7.6MAssets

92/100Mission Score (Excellent)

P820

About Katahdin Friends Inc

Katahdin Friends Inc (EIN: 10267689) is a nonprofit organization based in Millinocket, ME, classified under NTEE code P820. The organization reported total revenue of $8.1M and total assets of $7.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Katahdin Friends Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

Katahdin Friends Inc. demonstrates consistent financial growth and strong program spending based on its IRS 990 filings. Over the past five years, revenue has steadily increased from $6.19 million in 2020 to $8.00 million in 2024, indicating a growing capacity to deliver on its mission. The organization consistently spends a high percentage of its total expenses on programs, with a notable 90% in the latest filing period (202406), suggesting efficient use of funds directly towards its charitable purpose. This strong program ratio is a key indicator of financial health and commitment to mission.

The organization's assets have also shown significant growth, nearly doubling from $3.86 million in 2020 to $6.86 million in 2024, providing a solid financial foundation. Liabilities have remained manageable relative to assets, indicating good financial stewardship. A significant positive aspect is the reported 0% officer compensation across all available filings, which enhances transparency and suggests that leadership is either volunteer-based or compensated through other means not categorized as officer compensation, which is highly favorable for a nonprofit.

Overall, Katahdin Friends Inc. appears to be a financially healthy and efficient organization. Its consistent revenue growth, strong program spending, increasing asset base, and lack of reported officer compensation contribute to a positive assessment of its financial management and transparency. The organization's financial trajectory suggests a well-managed entity capable of sustaining and expanding its operations.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Katahdin Friends Inc with a Mission Score of 92 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: 7%
programs: 90%
fundraising: 3%

According to IRS 990 filings, Katahdin Friends Inc allocates its expenses as follows: admin: 7%, programs: 90%, fundraising: 3%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.

Executive Compensation Analysis

Katahdin Friends Inc. consistently reports 0% officer compensation across all available filings, which is highly unusual and suggests either a fully volunteer executive team or compensation structured in a way that is not reported under this category, significantly boosting its transparency and efficiency scores.

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 Katahdin Friends Inc's IRS 990 filings:

Unusually low or zero reported officer compensation across all filings, which might warrant further investigation into how leadership is compensated if not volunteer-based.

Strengths

The following positive indicators were identified for Katahdin Friends Inc:

Strong program spending ratio, consistently above 90% in recent years (e.g., 90% in 202406).
Consistent revenue growth over the past five years, from $6.19 million in 2020 to $8.00 million in 2024.
Healthy and growing asset base, nearly doubling from $3.86 million in 2020 to $6.86 million in 2024.
Zero reported officer compensation across all available filings, indicating high efficiency or volunteer leadership.
Manageable liabilities relative to assets, demonstrating good financial management.

Frequently Asked Questions about Katahdin Friends Inc

Is Katahdin Friends Inc. financially stable?

Yes, Katahdin Friends Inc. appears financially stable, with consistent revenue growth from $6.19 million in 2020 to $8.00 million in 2024, and a healthy asset base of $6.86 million in 2024, significantly exceeding its liabilities of $858,332.

How much of Katahdin Friends Inc.'s spending goes to programs?

In the latest filing period (202406), Katahdin Friends Inc. spent approximately 90% of its total expenses ($7,676,143) on program services, indicating a strong focus on its mission.

Does Katahdin Friends Inc. pay its officers?

According to all available IRS 990 filings, Katahdin Friends Inc. reports 0% officer compensation, suggesting that its officers are either volunteers or compensated through other means not classified as officer compensation.

Has Katahdin Friends Inc.'s revenue been growing?

Yes, Katahdin Friends Inc. has shown consistent revenue growth, increasing from $6,192,056 in 2020 to $8,000,647 in 2024.

Filing History

IRS 990 filing history for Katahdin Friends Inc showing financial trends over 14 years of public records:

Over 14 years of IRS 990 filings (2011–2024), Katahdin Friends Inc's revenue has grown by 74.4%, moving from $4.6M to $8.0M. Total assets increased by 283.2% over the same period, from $1.8M to $6.9M. Total functional expenses rose by 71.1%, from $4.5M to $7.7M. In its most recent filing year (2024), Katahdin Friends Inc reported a surplus of $325K, with revenue exceeding expenses. The organization holds $858K in liabilities against $6.9M in assets (debt-to-asset ratio: 12.5%), resulting in net assets of $6.0M.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2024	$8.0M	$7.7M	$6.9M	$858K	—	View 990
2023	$7.6M	$7.1M	$6.1M	$956K	—	View 990
2022	$7.2M	$6.8M	$4.6M	$414K	—	View 990
2021	$7.1M	$5.7M	$4.7M	$313K	—	View 990
2020	$6.2M	$6.0M	$3.9M	$1.2M	—	View 990
2019	$6.0M	$5.9M	$2.7M	$310K	—	View 990
2018	$0	$5K	$5K	$0	—	View 990
2017	$4.4M	$4.5M	$2.2M	$230K	—	View 990
2016	$4.1M	$4.0M	$2.1M	$174K	—	View 990
2015	$4.1M	$3.9M	$2.1M	$257K	—	View 990
2014	$4.0M	$3.8M	$1.9M	$248K	—	View 990
2013	$3.7M	$3.7M	$1.7M	$216K	—	View 990
2012	$4.7M	$4.7M	$1.7M	$249K	—	View 990
2011	$4.6M	$4.5M	$1.8M	$183K	—	View 990

Year-by-Year Financial Summary

2024: Revenue of $8.0M, expenses of $7.7M, and assets of $6.9M (revenue +5.2% year-over-year).
2023: Revenue of $7.6M, expenses of $7.1M, and assets of $6.1M (revenue +5.8% year-over-year).
2022: Revenue of $7.2M, expenses of $6.8M, and assets of $4.6M (revenue +1.8% year-over-year).
2021: Revenue of $7.1M, expenses of $5.7M, and assets of $4.7M (revenue +14.1% year-over-year).
2020: Revenue of $6.2M, expenses of $6.0M, and assets of $3.9M (revenue +2.4% year-over-year).
2019: Revenue of $6.0M, expenses of $5.9M, and assets of $2.7M.
2018: Revenue of $0, expenses of $5K, and assets of $5K (revenue -100.0% year-over-year).
2017: Revenue of $4.4M, expenses of $4.5M, and assets of $2.2M (revenue +7.4% year-over-year).
2016: Revenue of $4.1M, expenses of $4.0M, and assets of $2.1M (revenue -1.3% year-over-year).
2015: Revenue of $4.1M, expenses of $3.9M, and assets of $2.1M (revenue +3.5% year-over-year).
2014: Revenue of $4.0M, expenses of $3.8M, and assets of $1.9M (revenue +9.0% year-over-year).
2013: Revenue of $3.7M, expenses of $3.7M, and assets of $1.7M (revenue -21.5% year-over-year).
2012: Revenue of $4.7M, expenses of $4.7M, and assets of $1.7M (revenue +2.1% year-over-year).
2011: Revenue of $4.6M, expenses of $4.5M, and assets of $1.8M.

Data Sources and Methodology

This transparency report for Katahdin Friends Inc 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.