Lewiston Development Corp
Lewiston Development Corp faces severe financial distress with consistent negative revenue and a 99% decline in assets over a decade.
EIN: 16018803 · Auburn, ME · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.0M |
| Total Expenses | $650K |
| Program Spending | 70% |
| CEO/Top Officer Pay | $2 |
| Net Assets | $9K |
| Transparency Score | 20/100 |
Is Lewiston Development Corp Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Lewiston Development Corp directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Lewiston Development Corp
Lewiston Development Corp (EIN: 16018803) is a nonprofit organization based in Auburn, ME. The organization reported total revenue of $1.0M and total assets of $22K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Lewiston Development Corp's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Lewiston Development Corp is a mid-size nonprofit that has been operating for 66 years, with 12 years of IRS 990 filings on record (2011–2022).
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
| Total Revenue | $365K |
| Total Expenses | $650K |
| Surplus / Deficit | $-284,899 |
| Total Assets | $22K |
| Total Liabilities | $13K |
| Net Assets | $9K |
| Operating Margin | -78.1% |
| Debt-to-Asset Ratio | 59.9% |
| Months of Reserves | 0.4 months |
Financial Health Grade: D
In 2022, Lewiston Development Corp reported a deficit of $285K with expenses exceeding revenue, holds 0.4 months of operating reserves (limited), has a debt-to-asset ratio of 59.9% (high leverage).
Financial Trends
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2018 | -293.9% | +209.4% | -14.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 1960 |
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 Lewiston Development Corp with a Mission Score of 20 out of 100 (Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 25%
- programs: 70%
- fundraising: 5%
According to IRS 990 filings, Lewiston Development Corp allocates its expenses as follows: admin: 25%, programs: 70%, fundraising: 5%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $285K, with expenses exceeding revenue.
- Debt-to-asset ratio: 59.9%.
Executive Compensation Analysis
Executive compensation has consistently been reported as 0% across all available filings, indicating that officers are either unpaid volunteers or receive no compensation from the organization, which is unusual for an organization with historical assets over $2 million.
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 Lewiston Development Corp's IRS 990 filings:
- Consistent negative revenue for multiple years (e.g., -$170,503 in 2021, -$582,684 in 2020).
- Drastic decline in assets from $2,550,169 in 2013 to $21,845 in 2022.
- Significant operating deficit in 2022 ($364,857 revenue vs. $649,756 expenses).
- High liabilities relative to current assets ($13,080 liabilities vs. $21,845 assets in 2022).
- Lack of detailed expense breakdown to assess program efficiency.
Strengths
The following positive indicators were identified for Lewiston Development Corp:
- Consistent reporting of 0% officer compensation, indicating volunteer leadership or minimal executive pay.
Frequently Asked Questions about Lewiston Development Corp
Is Lewiston Development Corp a legitimate charity?
Lewiston Development Corp (EIN: 16018803) is a registered tax-exempt nonprofit based in Maine. Our AI analysis gives it a Mission Score of 20/100. It has 12 years of IRS 990 filings on record. Total revenue: $1.0M. 5 red flags identified. 1 strength noted. Financial health grade: D.
How does Lewiston Development Corp spend its money?
Lewiston Development Corp directs 70% of its spending to programs and services. Fundraising costs 5%. This meets the 65% industry benchmark.
Are donations to Lewiston Development Corp tax-deductible?
Lewiston Development Corp is registered as a tax-exempt nonprofit (EIN: 16018803). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Lewiston Development Corp CEO make?
Lewiston Development Corp's highest-compensated officer earns $2 annually. The organization reported $1.0M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Lewiston Development Corp's spending goes to programs?
Lewiston Development Corp directs 70% to programs, 5% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
Where is Lewiston Development Corp located?
Lewiston Development Corp is headquartered in Auburn, Maine and files with the IRS under EIN 16018803.
How many years of IRS 990 filings does Lewiston Development Corp have?
Lewiston Development Corp 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 $1.0M in total revenue.
What caused the consistent negative revenue reported by Lewiston Development Corp?
The provided data consistently shows negative revenue for most years, including -$170,503 in 2021 and -$582,684 in 2020. This trend needs further investigation to understand the underlying financial activities, such as significant asset sales or investment losses, that would result in such figures.
Why have Lewiston Development Corp's assets declined so drastically from $2.5 million to $21,845?
The organization's assets have fallen from $2,550,169 in 2013 to $21,845 in 2022. This precipitous decline, over 99%, suggests major divestments, significant losses, or a fundamental change in the organization's operational model or asset management strategy.
How is Lewiston Development Corp covering its expenses with such consistent operating deficits?
In 2022, expenses were $649,756 against revenue of $364,857, indicating a substantial deficit. Similar deficits are seen in prior years. Without external funding sources or a clear explanation of how these deficits are managed, the organization's long-term solvency is questionable.
What are the specific program activities and outcomes of Lewiston Development Corp given its financial state?
The financial data indicates severe financial challenges. Understanding the specific programs Lewiston Development Corp is undertaking and their measurable impact is crucial to assess if the organization is effectively fulfilling its mission despite its financial difficulties.
Filing History
IRS 990 filing history for Lewiston Development Corp showing financial trends over 12 years of public records:
Total assets decreased by 99.2% over the same period, from $2.6M to $22K. Total functional expenses rose by 799.4%, from $72K to $650K. In its most recent filing year (2022), Lewiston Development Corp reported a deficit of $285K, with expenses exceeding revenue. The organization holds $13K in liabilities against $22K in assets (debt-to-asset ratio: 59.9%), resulting in net assets of $9K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2022 | $365K | $650K | $22K | $13K | — | — |
| 2021 | $-170,503 | $11K | $951K | $658K | — | View 990 |
| 2020 | $-582,684 | $34K | $1.1M | $654K | — | View 990 |
| 2019 | $-100,886 | $33K | $1.8M | $693K | — | View 990 |
| 2018 | $-128,758 | $167K | $1.9M | $694K | — | View 990 |
| 2017 | $66K | $54K | $2.2M | $712K | — | View 990 |
| 2016 | $-49,239 | $111K | $2.4M | $862K | — | View 990 |
| 2015 | $-2,130 | $49K | $2.5M | $848K | — | View 990 |
| 2014 | $7K | $61K | $2.5M | $825K | — | View 990 |
| 2013 | $5K | $63K | $2.6M | $796K | — | View 990 |
| 2012 | $121K | $58K | $2.6M | $831K | — | View 990 |
| 2011 | $-13,931 | $72K | $2.6M | $838K | — | View 990 |
Year-by-Year Financial Summary
- 2022: Revenue of $365K, expenses of $650K, and assets of $22K.
- 2021: Revenue of $-170,503, expenses of $11K, and assets of $951K.
- 2020: Revenue of $-582,684, expenses of $34K, and assets of $1.1M.
- 2019: Revenue of $-100,886, expenses of $33K, and assets of $1.8M.
- 2018: Revenue of $-128,758, expenses of $167K, and assets of $1.9M (revenue -293.9% year-over-year).
- 2017: Revenue of $66K, expenses of $54K, and assets of $2.2M.
- 2016: Revenue of $-49,239, expenses of $111K, and assets of $2.4M.
- 2015: Revenue of $-2,130, expenses of $49K, and assets of $2.5M (revenue -131.3% year-over-year).
- 2014: Revenue of $7K, expenses of $61K, and assets of $2.5M (revenue +38.5% year-over-year).
- 2013: Revenue of $5K, expenses of $63K, and assets of $2.6M (revenue -95.9% year-over-year).
- 2012: Revenue of $121K, expenses of $58K, and assets of $2.6M.
- 2011: Revenue of $-13,931, expenses of $72K, and assets of $2.6M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Lewiston Development Corp:
Data Sources and Methodology
This transparency report for Lewiston 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.