Millinocket Chamber Of Commerce

Millinocket Chamber Of Commerce shows revenue growth but reports unusually low assets across filings.

EIN: 10405745 · Millinocket, ME · NTEE: S40 · Updated: 2026-03-28

$115KRevenue

$45KAssets

65/100Mission Score (Good)

S40

About Millinocket Chamber Of Commerce

Millinocket Chamber Of Commerce (EIN: 10405745) is a nonprofit organization based in Millinocket, ME, classified under NTEE code S40. The organization reported total revenue of $115K and total assets of $45K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Millinocket Chamber Of Commerce's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

The Millinocket Chamber Of Commerce demonstrates consistent financial activity, with revenues fluctuating between $62,950 and $83,288 in the last three reported periods. Their latest reported revenue is $114,933, indicating growth. A notable aspect is the consistent reporting of $1 in assets and $0 in liabilities across multiple filings, which is highly unusual for an organization of this size and could indicate an oversimplified or incomplete financial picture. While officer compensation is reported as 0%, which is positive for donor confidence, the asset reporting raises questions about the completeness and accuracy of their financial disclosures, impacting overall transparency.

The organization appears to operate on a relatively lean budget, with expenses closely tracking revenues. For example, in 202306, expenses were $72,647 against revenues of $81,376, suggesting efficient use of funds to cover operational costs. However, without a detailed breakdown of expenses (program, administrative, fundraising), it's challenging to fully assess spending efficiency. The consistent $1 asset reporting is a significant red flag for financial transparency, as it does not reflect the typical financial holdings of an active chamber of commerce.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Millinocket Chamber Of Commerce 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: 20%
programs: 70%
fundraising: 10%

According to IRS 990 filings, Millinocket Chamber Of Commerce allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.

Executive Compensation Analysis

Officer compensation is consistently reported as 0% across all available filings, which is commendable for an organization of its size and suggests resources are not being diverted to high executive salaries.

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 Millinocket Chamber Of Commerce's IRS 990 filings:

Consistently reporting $1 in assets across multiple years, which is highly unusual for an active organization.
No reported liabilities, which, combined with $1 in assets, suggests an incomplete financial picture.
Lack of detailed expense breakdown in available data makes it difficult to assess true spending efficiency.

Strengths

The following positive indicators were identified for Millinocket Chamber Of Commerce:

Consistent revenue generation over several years, indicating stable operations.
Reported 0% officer compensation, suggesting resources are directed towards the organization's mission.
Latest revenue of $114,933 shows positive growth compared to previous periods.

Frequently Asked Questions about Millinocket Chamber Of Commerce

Why are assets consistently reported as $1 across multiple years?

The consistent reporting of $1 in assets and $0 in liabilities across multiple IRS 990 filings (2021-2023) for an organization with revenues exceeding $60,000 is highly unusual and suggests either a significant accounting anomaly, a misunderstanding of reporting requirements, or that the organization holds very few tangible assets directly. This warrants further investigation to understand the true financial position.

Does the organization have sufficient reserves given its revenue levels?

With reported assets consistently at $1 and revenues fluctuating, the organization appears to have virtually no financial reserves. This could make it vulnerable to unexpected expenses or downturns in revenue, potentially impacting its long-term sustainability and ability to fulfill its mission.

Filing History

IRS 990 filing history for Millinocket Chamber Of Commerce showing financial trends over 3 years of public records:

Over 3 years of IRS 990 filings (2021–2023), Millinocket Chamber Of Commerce's revenue has declined by 2.3%, moving from $83K to $81K. Total assets increased by 0% over the same period, from $1 to $1. Total functional expenses rose by 3.9%, from $70K to $73K. In its most recent filing year (2023), Millinocket Chamber Of Commerce reported a surplus of $9K, with revenue exceeding expenses.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$81K	$73K	$1	$0	—	View 990
2022	$63K	$63K	$1	$0	—	View 990
2021	$83K	$70K	$1	$0	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $81K, expenses of $73K, and assets of $1 (revenue +29.3% year-over-year).
2022: Revenue of $63K, expenses of $63K, and assets of $1 (revenue -24.4% year-over-year).
2021: Revenue of $83K, expenses of $70K, and assets of $1.

Data Sources and Methodology

This transparency report for Millinocket 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.