Kennebec Valley Chamber Of Commerce
Kennebec Valley Chamber Of Commerce maintains stable finances with growing assets and no reported officer compensation.
EIN: 10022415 · Augusta, ME · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $789K |
| Total Expenses | $620K |
| Program Spending | 85% |
| Net Assets | $551K |
| Transparency Score | 85/100 |
Is Kennebec Valley Chamber Of Commerce Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Kennebec Valley Chamber Of Commerce directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Kennebec Valley Chamber Of Commerce
Kennebec Valley Chamber Of Commerce (EIN: 10022415) is a nonprofit organization based in Augusta, ME. The organization reported total revenue of $789K and total assets of $555K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Kennebec Valley Chamber Of Commerce's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Kennebec Valley Chamber Of Commerce is a small nonprofit that has been operating for 81 years, with 12 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 2.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $626K |
| Total Expenses | $620K |
| Surplus / Deficit | +$7K |
| Total Assets | $603K |
| Total Liabilities | $52K |
| Net Assets | $551K |
| Operating Margin | 1.1% |
| Debt-to-Asset Ratio | 8.6% |
| Months of Reserves | 11.7 months |
Financial Health Grade: A
In 2023, Kennebec Valley Chamber Of Commerce reported a surplus of $7K with revenue exceeding expenses, holds 11.7 months of operating reserves (strong position), has a debt-to-asset ratio of 8.6% (very low leverage).
Financial Trends
Over 12 years of filings (2011–2023), Kennebec Valley Chamber Of Commerce's revenue has grown at a compound annual growth rate (CAGR) of 2.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +22.3% | +22.3% | +8.8% |
| 2022 | +12.8% | +39.7% | -0.1% |
| 2021 | +7.6% | -13.9% | +24.6% |
| 2020 | -16.6% | -10.8% | +0.3% |
| 2019 | -1.6% | -0.4% | -18.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 3000 |
| IRS Ruling Date | 1945 |
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 Chamber Of Commerce with a Mission Score of 85 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: 85%
- fundraising: 5%
According to IRS 990 filings, Kennebec Valley Chamber Of Commerce allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $7K, with revenue exceeding expenses.
- Debt-to-asset ratio: 8.6%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that executive leadership is either unpaid or compensated through mechanisms not categorized as officer compensation, which is highly unusual for an organization of this size and suggests a strong commitment to directing funds elsewhere.
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 Chamber Of Commerce's IRS 990 filings:
- Lack of detailed program spending breakdown in summary data
- Unclear how executive leadership is compensated given 0% officer compensation reported
Strengths
The following positive indicators were identified for Kennebec Valley Chamber Of Commerce:
- Consistent financial stability with revenues generally covering expenses
- Growing asset base, reaching $602,885 in 2023
- Low and well-managed liabilities, $51,926 in 2023
- Transparent reporting of 0% officer compensation
- Positive net assets indicating financial health
Frequently Asked Questions about Kennebec Valley Chamber Of Commerce
Is Kennebec Valley Chamber Of Commerce a legitimate charity?
Based on AI analysis of IRS 990 filings, Kennebec Valley Chamber Of Commerce (EIN: 10022415) some concerns. Mission Score: 85/100. 2 red flags identified, 5 strengths noted.
How does Kennebec Valley Chamber Of Commerce spend its money?
Kennebec Valley Chamber Of Commerce directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Kennebec Valley Chamber Of Commerce tax-deductible?
Kennebec Valley Chamber Of Commerce is registered as a tax-exempt nonprofit (EIN: 10022415). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Kennebec Valley Chamber Of Commerce's spending goes to programs?
Kennebec Valley Chamber Of Commerce directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Kennebec Valley Chamber Of Commerce located?
Kennebec Valley Chamber Of Commerce is headquartered in Augusta, Maine and files with the IRS under EIN 10022415.
How many years of IRS 990 filings does Kennebec Valley Chamber Of Commerce have?
Kennebec Valley Chamber Of Commerce has 12 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $789K in total revenue.
How does the Kennebec Valley Chamber Of Commerce fund its operations without officer compensation?
The filings consistently show 0% officer compensation, which suggests that executive leadership may be volunteer-based, compensated through a separate entity, or that their compensation is categorized differently within the expense structure, such as 'salaries and wages' for non-officer roles.
What are the primary sources of revenue for the organization?
While specific revenue streams are not detailed in the summary, as a Chamber of Commerce, typical sources include membership dues, event fees, sponsorships, and potentially grants or program service fees.
Has the organization experienced significant financial fluctuations?
The organization has shown consistent revenue and expense levels, generally ranging from $400,000 to over $600,000 annually, with no drastic year-over-year drops, indicating stable financial operations.
Filing History
IRS 990 filing history for Kennebec Valley Chamber Of Commerce showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2011–2023), Kennebec Valley Chamber Of Commerce's revenue has grown by 40.2%, moving from $447K to $626K. Total assets increased by 190.9% over the same period, from $207K to $603K. Total functional expenses rose by 41.8%, from $437K to $620K. In its most recent filing year (2023), Kennebec Valley Chamber Of Commerce reported a surplus of $7K, with revenue exceeding expenses. The organization holds $52K in liabilities against $603K in assets (debt-to-asset ratio: 8.6%), resulting in net assets of $551K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $626K | $620K | $603K | $52K | — | — |
| 2022 | $512K | $507K | $554K | $23K | — | — |
| 2021 | $454K | $363K | $554K | $14K | — | View 990 |
| 2020 | $422K | $422K | $445K | $15K | — | — |
| 2019 | $506K | $473K | $444K | $26K | — | View 990 |
| 2018 | $514K | $474K | $546K | $181K | — | View 990 |
| 2017 | $571K | $443K | $538K | $204K | — | View 990 |
| 2016 | $532K | $538K | $551K | $354K | — | View 990 |
| 2014 | $479K | $469K | $264K | $30K | — | View 990 |
| 2013 | $535K | $520K | $251K | $30K | — | View 990 |
| 2012 | $447K | $434K | $222K | $29K | — | View 990 |
| 2011 | $447K | $437K | $207K | $33K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $626K, expenses of $620K, and assets of $603K (revenue +22.3% year-over-year).
- 2022: Revenue of $512K, expenses of $507K, and assets of $554K (revenue +12.8% year-over-year).
- 2021: Revenue of $454K, expenses of $363K, and assets of $554K (revenue +7.6% year-over-year).
- 2020: Revenue of $422K, expenses of $422K, and assets of $445K (revenue -16.6% year-over-year).
- 2019: Revenue of $506K, expenses of $473K, and assets of $444K (revenue -1.6% year-over-year).
- 2018: Revenue of $514K, expenses of $474K, and assets of $546K (revenue -10.0% year-over-year).
- 2017: Revenue of $571K, expenses of $443K, and assets of $538K (revenue +7.4% year-over-year).
- 2016: Revenue of $532K, expenses of $538K, and assets of $551K (revenue +11.0% year-over-year).
- 2014: Revenue of $479K, expenses of $469K, and assets of $264K (revenue -10.4% year-over-year).
- 2013: Revenue of $535K, expenses of $520K, and assets of $251K (revenue +19.7% year-over-year).
- 2012: Revenue of $447K, expenses of $434K, and assets of $222K (revenue +0.0% year-over-year).
- 2011: Revenue of $447K, expenses of $437K, and assets of $207K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Kennebec Valley Chamber Of Commerce:
Data Sources and Methodology
This transparency report for Kennebec Valley Chamber Of Commerce 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.