Monadnock Economic Development Corporation
Monadnock Economic Development Corporation faces persistent operating deficits and declining assets.
EIN: 20395538 · Keene, NH · NTEE: S310 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $10.2M |
| Total Expenses | $2.2M |
| Program Spending | 70% |
| Net Assets | $-2,480,904 |
| Transparency Score | 55/100 |
Is Monadnock Economic Development Corporation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Monadnock Economic Development Corporation directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Monadnock Economic Development Corporation
Monadnock Economic Development Corporation (EIN: 20395538) is a nonprofit organization based in Keene, NH, classified under NTEE code S310. The organization reported total revenue of $10.2M and total assets of $35.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Monadnock Economic Development Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Monadnock Economic Development Corporation is a large nonprofit that has been operating for 40 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -6.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.7M |
| Total Expenses | $2.2M |
| Surplus / Deficit | $-503,302 |
| Total Assets | $41.5M |
| Total Liabilities | $43.9M |
| Net Assets | $-2,480,904 |
| Operating Margin | -29.5% |
| Debt-to-Asset Ratio | 106.0% |
| Months of Reserves | 225.2 months |
Financial Health Grade: C
In 2023, Monadnock Economic Development Corporation reported a deficit of $503K with expenses exceeding revenue, holds 225.2 months of operating reserves (strong position), has a debt-to-asset ratio of 106.0% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Monadnock Economic Development Corporation's revenue has declined at a compound annual growth rate (CAGR) of -6.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -11.0% | -8.3% | -3.3% |
| 2022 | -24.1% | -21.8% | -3.8% |
| 2021 | +37.7% | -15.9% | -3.6% |
| 2020 | -33.6% | +13.0% | -9.8% |
| 2019 | -27.1% | +22.9% | -3.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1986 |
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 Monadnock Economic Development Corporation with a Mission Score of 55 out of 100 (Fair). 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, Monadnock Economic Development Corporation allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $503K, with expenses exceeding revenue.
- Debt-to-asset ratio: 106.0%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that officers are either unpaid volunteers or receive very minimal compensation, which is a positive sign for a nonprofit of its size.
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 Monadnock Economic Development Corporation's IRS 990 filings:
- Consistent operating deficits (expenses exceeding revenue) across multiple years.
- Declining asset base from $53.2M in 2018 to $41.4M in 2023.
- Liabilities frequently exceeding assets in recent periods, indicating potential solvency issues.
Strengths
The following positive indicators were identified for Monadnock Economic Development Corporation:
- Zero reported officer compensation, indicating strong financial stewardship at the leadership level.
- Long filing history (13 filings) suggests consistent compliance with IRS reporting requirements.
Frequently Asked Questions about Monadnock Economic Development Corporation
Is Monadnock Economic Development Corporation a legitimate charity?
Based on AI analysis of IRS 990 filings, Monadnock Economic Development Corporation (EIN: 20395538) some concerns. Mission Score: 55/100. 3 red flags identified, 2 strengths noted.
How does Monadnock Economic Development Corporation spend its money?
Monadnock Economic Development Corporation directs 70% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Monadnock Economic Development Corporation tax-deductible?
Monadnock Economic Development Corporation is registered as a tax-exempt nonprofit (EIN: 20395538). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Monadnock Economic Development Corporation's spending goes to programs?
Monadnock Economic Development Corporation directs 70% to programs, 10% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
How does Monadnock Economic Development Corporation compare to similar nonprofits?
With a transparency score of 55/100 (Fair), Monadnock Economic Development Corporation is near average for NTEE category S310 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Monadnock Economic Development Corporation located?
Monadnock Economic Development Corporation is headquartered in Keene, New Hampshire and files with the IRS under EIN 20395538. It is classified under NTEE code S310.
How many years of IRS 990 filings does Monadnock Economic Development Corporation have?
Monadnock Economic Development Corporation has 13 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 $10.2M in total revenue.
Is Monadnock Economic Development Corporation financially stable?
No, the organization has consistently reported expenses exceeding revenue for several years, leading to operating deficits and a decline in assets, indicating financial instability.
What is the trend in the organization's assets and liabilities?
Assets have declined significantly from $53,247,862 in 2018 to $41,455,854 in 2023, while liabilities have remained high, often exceeding assets in recent periods, such as $43,936,758 in liabilities against $41,455,854 in assets in 2023.
Does the organization pay its officers?
Based on the provided data, officer compensation is reported as 0% for all available filing periods, suggesting that officers are not compensated or receive negligible amounts.
Filing History
IRS 990 filing history for Monadnock Economic Development Corporation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Monadnock Economic Development Corporation's revenue has declined by 52.7%, moving from $3.6M to $1.7M. Total assets increased by 131.4% over the same period, from $17.9M to $41.5M. Total functional expenses fell by 23.2%, from $2.9M to $2.2M. In its most recent filing year (2023), Monadnock Economic Development Corporation reported a deficit of $503K, with expenses exceeding revenue. The organization holds $43.9M in liabilities against $41.5M in assets (debt-to-asset ratio: 106.0%), resulting in net assets of $-2,480,904.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.7M | $2.2M | $41.5M | $43.9M | — | View 990 |
| 2022 | $1.9M | $2.4M | $42.9M | $44.9M | — | View 990 |
| 2021 | $2.5M | $3.1M | $44.6M | $46.1M | — | — |
| 2020 | $1.8M | $3.7M | $46.2M | $47.2M | — | View 990 |
| 2019 | $2.8M | $3.2M | $51.3M | $48.9M | — | View 990 |
| 2018 | $3.8M | $2.6M | $53.2M | $50.4M | — | View 990 |
| 2017 | $3.7M | $2.2M | $46.6M | $44.9M | — | View 990 |
| 2016 | $2.4M | $5.6M | $27.9M | $27.6M | — | View 990 |
| 2015 | $3.0M | $5.3M | $31.6M | $28.2M | — | View 990 |
| 2014 | $1.9M | $3.6M | $33.3M | $27.5M | — | View 990 |
| 2013 | $6.5M | $2.5M | $46.8M | $39.3M | — | View 990 |
| 2012 | $2.7M | $2.2M | $18.6M | $15.1M | — | View 990 |
| 2011 | $3.6M | $2.9M | $17.9M | $15.0M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.7M, expenses of $2.2M, and assets of $41.5M (revenue -11.0% year-over-year).
- 2022: Revenue of $1.9M, expenses of $2.4M, and assets of $42.9M (revenue -24.1% year-over-year).
- 2021: Revenue of $2.5M, expenses of $3.1M, and assets of $44.6M (revenue +37.7% year-over-year).
- 2020: Revenue of $1.8M, expenses of $3.7M, and assets of $46.2M (revenue -33.6% year-over-year).
- 2019: Revenue of $2.8M, expenses of $3.2M, and assets of $51.3M (revenue -27.1% year-over-year).
- 2018: Revenue of $3.8M, expenses of $2.6M, and assets of $53.2M (revenue +1.5% year-over-year).
- 2017: Revenue of $3.7M, expenses of $2.2M, and assets of $46.6M (revenue +55.6% year-over-year).
- 2016: Revenue of $2.4M, expenses of $5.6M, and assets of $27.9M (revenue -19.1% year-over-year).
- 2015: Revenue of $3.0M, expenses of $5.3M, and assets of $31.6M (revenue +52.8% year-over-year).
- 2014: Revenue of $1.9M, expenses of $3.6M, and assets of $33.3M (revenue -69.9% year-over-year).
- 2013: Revenue of $6.5M, expenses of $2.5M, and assets of $46.8M (revenue +136.4% year-over-year).
- 2012: Revenue of $2.7M, expenses of $2.2M, and assets of $18.6M (revenue -24.3% year-over-year).
- 2011: Revenue of $3.6M, expenses of $2.9M, and assets of $17.9M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Monadnock Economic Development Corporation:
Data Sources and Methodology
This transparency report for Monadnock Economic Development Corporation 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.