Machias Savings Bank Community Development Foundation
Machias Savings Bank Community Development Foundation maintains strong assets and zero executive compensation, directing resources to community programs.
EIN: 10514175 · Machias, ME · NTEE: T20Z · Updated: 2026-03-28
Is Machias Savings Bank Community Development Foundation Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Machias Savings Bank Community Development Foundation directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Machias Savings Bank Community Development Foundation
Machias Savings Bank Community Development Foundation (EIN: 10514175) is a nonprofit organization based in Machias, ME, classified under NTEE code T20Z. The organization reported total revenue of $4.2M and total assets of $3.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Machias Savings Bank Community Development Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Machias Savings Bank Community Development Foundation 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, Machias Savings Bank Community Development Foundation 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 consistently reported as 0% across all available filings, indicating a volunteer-led organization. This significantly reduces administrative overhead, allowing more resources to be directed towards the foundation's community development programs.
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 Machias Savings Bank Community Development Foundation:
- Zero executive compensation, maximizing program spending efficiency.
- Strong and growing asset base, indicating financial stability (from $679,713 in 2015 to $3,404,153 in 2023).
- Minimal liabilities ($1 consistently reported), reflecting sound financial management.
- Consistent and transparent IRS 990 filing history (10 filings).
- High percentage of expenses directed towards programmatic activities.
Frequently Asked Questions about Machias Savings Bank Community Development Foundation
Is Machias Savings Bank Community Development Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Machias Savings Bank Community Development Foundation (EIN: 10514175) appears legitimate. Mission Score: 95/100. 0 red flags identified, 5 strengths noted.
How does Machias Savings Bank Community Development Foundation spend its money?
Machias Savings Bank Community Development Foundation directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Machias Savings Bank Community Development Foundation tax-deductible?
Machias Savings Bank Community Development Foundation is registered as a tax-exempt nonprofit (EIN: 10514175). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Machias Savings Bank Community Development Foundation a good charity?
Yes, based on its financial data, the foundation appears to be a very good charity. It demonstrates strong financial health with growing assets, minimal liabilities, and a highly efficient spending model due to zero executive compensation. A very high percentage of its expenses are directed towards programs.
How does the foundation manage its administrative costs?
The foundation manages administrative costs exceptionally well, primarily by having 0% officer compensation across all reported periods. This volunteer-driven leadership significantly reduces overhead, allowing a greater proportion of funds to be used for its mission.
What is the trend in the foundation's assets?
The foundation's assets have shown a strong upward trend, growing from $679,713 in 2015 to $3,404,153 in 2023. This indicates effective asset management and financial growth over time.
Why was there negative revenue in 2022?
The negative revenue of $-23,824 in 2022 could be due to various factors such as investment losses, significant returns of prior year grants, or accounting adjustments. While unusual, it did not significantly impact the foundation's overall asset base, which remained stable at $3,401,143 that year.
Filing History
IRS 990 filing history for Machias Savings Bank Community Development Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Machias Savings Bank Community Development Foundation's revenue has grown by 1265%, moving from $19K to $253K. Total assets increased by 352.4% over the same period, from $752K to $3.4M. Total functional expenses rose by 236%, from $74K to $249K. In its most recent filing year (2023), Machias Savings Bank Community Development Foundation reported a surplus of $4K, with revenue exceeding expenses. The organization holds $1 in liabilities against $3.4M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $3.4M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $253K | $249K | $3.4M | $1 | — | View 990 |
| 2022 | $-23,824 | $165K | $3.4M | $1 | — | View 990 |
| 2021 | $320K | $150K | $3.6M | $1 | — | View 990 |
| 2020 | $856K | $500K | $3.4M | $1 | — | — |
| 2019 | $1.2M | $221K | $3.1M | $1 | — | View 990 |
| 2015 | $24K | $30K | $680K | $1 | — | View 990 |
| 2014 | $33K | $45K | $686K | $1 | — | View 990 |
| 2013 | $28K | $47K | $698K | $1 | — | View 990 |
| 2012 | $24K | $59K | $717K | $1 | — | View 990 |
| 2011 | $19K | $74K | $752K | $1 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $253K, expenses of $249K, and assets of $3.4M.
- 2022: Revenue of $-23,824, expenses of $165K, and assets of $3.4M (revenue -107.5% year-over-year).
- 2021: Revenue of $320K, expenses of $150K, and assets of $3.6M (revenue -62.7% year-over-year).
- 2020: Revenue of $856K, expenses of $500K, and assets of $3.4M (revenue -28.5% year-over-year).
- 2019: Revenue of $1.2M, expenses of $221K, and assets of $3.1M (revenue +4929.4% year-over-year).
- 2015: Revenue of $24K, expenses of $30K, and assets of $680K (revenue -27.2% year-over-year).
- 2014: Revenue of $33K, expenses of $45K, and assets of $686K (revenue +15.9% year-over-year).
- 2013: Revenue of $28K, expenses of $47K, and assets of $698K (revenue +19.7% year-over-year).
- 2012: Revenue of $24K, expenses of $59K, and assets of $717K (revenue +27.1% year-over-year).
- 2011: Revenue of $19K, expenses of $74K, and assets of $752K.
Data Sources and Methodology
This transparency report for Machias Savings Bank Community Development Foundation 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.