Kennebec Valley Art Association
Kennebec Valley Art Association frequently operates at a deficit, with declining assets over the past decade.
EIN: 16018601 · Sidney, ME · Updated: 2026-03-28
Is Kennebec Valley Art Association Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Kennebec Valley Art Association directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Kennebec Valley Art Association
Kennebec Valley Art Association (EIN: 16018601) is a nonprofit organization based in Sidney, 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 Kennebec Valley Art Association's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Kennebec Valley Art Association is a micro nonprofit that has been operating for 63 years, with 12 years of IRS 990 filings on record (2010–2021). Revenue has grown at a compound annual rate of -0.9%.
Key Financial Metrics (2021)
From the most recent IRS 990 filing on record:
| Total Revenue | $80K |
| Total Expenses | $99K |
| Surplus / Deficit | $-18,671 |
| Total Assets | $106K |
| Total Liabilities | $878 |
| Net Assets | $105K |
| Operating Margin | -23.3% |
| Debt-to-Asset Ratio | 0.8% |
| Months of Reserves | 12.9 months |
Financial Health Grade: B
In 2021, Kennebec Valley Art Association reported a deficit of $19K with expenses exceeding revenue, holds 12.9 months of operating reserves (strong position), has a debt-to-asset ratio of 0.8% (very low leverage).
Financial Trends
Over 12 years of filings (2010–2021), Kennebec Valley Art Association's revenue has declined at a compound annual growth rate (CAGR) of -0.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2021 | +10.8% | +8.1% | -14.8% |
| 2020 | -37.2% | -43.3% | -14.4% |
| 2019 | -37.4% | -0.3% | -24.2% |
| 2018 | +56.8% | +26.1% | +5.9% |
| 2017 | -2.5% | -4.2% | -2.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1963 |
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 Kennebec Valley Art Association with a Mission Score of 65 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, Kennebec Valley Art Association 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.
Key Financial Metrics (2021)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $19K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.8%.
Executive Compensation Analysis
Executive compensation has consistently been reported as 0% across all available filings, indicating that the organization's leadership is likely volunteer-based, which is commendable for a small organization with fluctuating revenues.
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 Kennebec Valley Art Association's IRS 990 filings:
- Consistent operational deficits (e.g., $98,669 expenses vs. $79,998 revenue in 2021)
- Declining asset base over the past decade (from $213,643 in 2013 to $106,074 in 2021)
Strengths
The following positive indicators were identified for Kennebec Valley Art Association:
- Volunteer-driven leadership with 0% officer compensation reported across all filings
- Low liabilities relative to assets (e.g., $878 liabilities vs. $106,074 assets in 2021)
Frequently Asked Questions about Kennebec Valley Art Association
Is Kennebec Valley Art Association a legitimate charity?
Based on AI analysis of IRS 990 filings, Kennebec Valley Art Association (EIN: 16018601) some concerns. Mission Score: 65/100. 2 red flags identified, 2 strengths noted.
How does Kennebec Valley Art Association spend its money?
Kennebec Valley Art Association directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Kennebec Valley Art Association tax-deductible?
Kennebec Valley Art Association is registered as a tax-exempt nonprofit (EIN: 16018601). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Kennebec Valley Art Association a good charity?
The Kennebec Valley Art Association demonstrates a commitment to its mission through its volunteer leadership (0% officer compensation). However, its consistent operational deficits, with expenses often exceeding revenue (e.g., $98,669 expenses vs. $79,998 revenue in 2021), and declining assets suggest potential financial instability. While program focus appears strong due to lack of paid executives, the long-term sustainability is a concern.
Why are the assets declining?
Assets have declined from a peak of $213,643 in 2013 to $106,074 in 2021. This decline is likely due to the organization consistently spending more than its revenue in many years, drawing down its reserves to cover operational costs. For example, in 2019, expenses exceeded revenue by over $45,000.
What is the organization's plan to address its operational deficits?
The provided IRS 990 data does not detail specific plans to address operational deficits. However, the consistent pattern of expenses exceeding revenue in most recent years (e.g., 2019, 2020, 2021) indicates that this is an ongoing challenge that would require a strategic response.
Filing History
IRS 990 filing history for Kennebec Valley Art Association showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2010–2021), Kennebec Valley Art Association's revenue has declined by 9.4%, moving from $88K to $80K. Total assets decreased by 44.1% over the same period, from $190K to $106K. Total functional expenses fell by 6.2%, from $105K to $99K. In its most recent filing year (2021), Kennebec Valley Art Association reported a deficit of $19K, with expenses exceeding revenue. The organization holds $878 in liabilities against $106K in assets (debt-to-asset ratio: 0.8%), resulting in net assets of $105K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2021 | $80K | $99K | $106K | $878 | — | View 990 |
| 2020 | $72K | $91K | $124K | $586 | — | — |
| 2019 | $115K | $161K | $145K | $2K | — | View 990 |
| 2018 | $184K | $161K | $192K | $3K | — | View 990 |
| 2017 | $117K | $128K | $181K | $14K | — | View 990 |
| 2016 | $120K | $134K | $185K | $5K | — | View 990 |
| 2015 | $116K | $106K | $206K | $3K | — | View 990 |
| 2014 | $96K | $99K | $201K | $3K | — | View 990 |
| 2013 | $129K | $109K | $214K | $3K | — | View 990 |
| 2012 | $101K | $115K | $194K | $4K | — | View 990 |
| 2011 | $116K | $94K | $207K | $3K | — | View 990 |
| 2010 | $88K | $105K | $190K | $7K | — | View 990 |
Year-by-Year Financial Summary
- 2021: Revenue of $80K, expenses of $99K, and assets of $106K (revenue +10.8% year-over-year).
- 2020: Revenue of $72K, expenses of $91K, and assets of $124K (revenue -37.2% year-over-year).
- 2019: Revenue of $115K, expenses of $161K, and assets of $145K (revenue -37.4% year-over-year).
- 2018: Revenue of $184K, expenses of $161K, and assets of $192K (revenue +56.8% year-over-year).
- 2017: Revenue of $117K, expenses of $128K, and assets of $181K (revenue -2.5% year-over-year).
- 2016: Revenue of $120K, expenses of $134K, and assets of $185K (revenue +4.0% year-over-year).
- 2015: Revenue of $116K, expenses of $106K, and assets of $206K (revenue +20.6% year-over-year).
- 2014: Revenue of $96K, expenses of $99K, and assets of $201K (revenue -25.8% year-over-year).
- 2013: Revenue of $129K, expenses of $109K, and assets of $214K (revenue +27.3% year-over-year).
- 2012: Revenue of $101K, expenses of $115K, and assets of $194K (revenue -12.5% year-over-year).
- 2011: Revenue of $116K, expenses of $94K, and assets of $207K (revenue +31.0% year-over-year).
- 2010: Revenue of $88K, expenses of $105K, and assets of $190K.
Data Sources and Methodology
This transparency report for Kennebec Valley Art Association 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.