North Yarmouth Cumberland Mutual Fire Ins Co
North Yarmouth Cumberland Mutual Fire Ins Co reports minimal revenue and a drastic asset decline in 2023.
EIN: 10240874 · Portland, ME · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $53 |
| Total Expenses | $18K |
| Net Assets | $2K |
| Transparency Score | 20/100 |
Is North Yarmouth Cumberland Mutual Fire Ins Co Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About North Yarmouth Cumberland Mutual Fire Ins Co
North Yarmouth Cumberland Mutual Fire Ins Co (EIN: 10240874) is a nonprofit organization based in Portland, ME. The organization reported total revenue of $53 and total assets of $3K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of North Yarmouth Cumberland Mutual Fire Ins Co's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
North Yarmouth Cumberland Mutual Fire Ins Co is a micro nonprofit that has been operating for 47 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -47.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $53 |
| Total Expenses | $18K |
| Surplus / Deficit | $-17,814 |
| Total Assets | $3K |
| Total Liabilities | $1K |
| Net Assets | $2K |
| Operating Margin | -33611.3% |
| Debt-to-Asset Ratio | 37.6% |
| Months of Reserves | 1.8 months |
Financial Health Grade: C
In 2023, North Yarmouth Cumberland Mutual Fire Ins Co reported a deficit of $18K with expenses exceeding revenue, holds 1.8 months of operating reserves (limited), has a debt-to-asset ratio of 37.6% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), North Yarmouth Cumberland Mutual Fire Ins Co's revenue has declined at a compound annual growth rate (CAGR) of -47.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2022 | -105.6% | -32.7% | -13.5% |
| 2021 | +89.3% | -4.4% | +7.3% |
| 2020 | -6.6% | -16.6% | +3.6% |
| 2019 | -27.9% | +62.0% | +11.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1979 |
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 North Yarmouth Cumberland Mutual Fire Ins Co 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: 100%
- programs: 0%
- fundraising: 0%
According to IRS 990 filings, North Yarmouth Cumberland Mutual Fire Ins Co allocates its expenses as follows: admin: 100%, programs: 0%, fundraising: 0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $18K, with expenses exceeding revenue.
- Debt-to-asset ratio: 37.6%.
Executive Compensation Analysis
Officer compensation has consistently been reported as 0% across all available filings, indicating that the organization's leadership is either entirely volunteer-based or compensated through non-officer roles, which is unusual for an entity with historical asset levels in the hundreds of thousands.
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 North Yarmouth Cumberland Mutual Fire Ins Co's IRS 990 filings:
- Drastic 99.6% decline in assets from $875,951 in 2022 to $2,752 in 2023.
- Extremely low and volatile revenue, including negative revenue in 2022 ($-7,195) and minimal revenue ($53) in 2023.
- Expenses consistently exceed revenue in multiple years (e.g., $17,867 expenses vs. $53 revenue in 2023; $39,322 expenses vs. $-7,195 revenue in 2022).
- Lack of clear program spending data, making it impossible to assess program efficiency.
Strengths
The following positive indicators were identified for North Yarmouth Cumberland Mutual Fire Ins Co:
- Consistent reporting of 0% officer compensation, indicating a potentially volunteer-driven leadership structure.
Frequently Asked Questions about North Yarmouth Cumberland Mutual Fire Ins Co
Is North Yarmouth Cumberland Mutual Fire Ins Co a legitimate charity?
Based on AI analysis of IRS 990 filings, North Yarmouth Cumberland Mutual Fire Ins Co (EIN: 10240874) significant concerns. Mission Score: 20/100. 4 red flags identified, 1 strength noted.
How does North Yarmouth Cumberland Mutual Fire Ins Co spend its money?
Detailed spending breakdown data is not yet available for North Yarmouth Cumberland Mutual Fire Ins Co. Check back for updated IRS 990 analysis.
Are donations to North Yarmouth Cumberland Mutual Fire Ins Co tax-deductible?
North Yarmouth Cumberland Mutual Fire Ins Co is registered as a tax-exempt nonprofit (EIN: 10240874). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is North Yarmouth Cumberland Mutual Fire Ins Co located?
North Yarmouth Cumberland Mutual Fire Ins Co is headquartered in Portland, Maine and files with the IRS under EIN 10240874.
How many years of IRS 990 filings does North Yarmouth Cumberland Mutual Fire Ins Co have?
North Yarmouth Cumberland Mutual Fire Ins Co 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 $53 in total revenue.
What caused the drastic reduction in assets from $875,951 in 2022 to $2,752 in 2023?
The provided data does not specify the reason for this significant asset depletion, but it is the most critical financial event in the organization's recent history and would require reviewing the full IRS Form 990 for detailed explanations.
How does the organization sustain operations with such low and volatile revenue, especially with expenses often exceeding income?
Historically, the organization likely relied on its accumulated assets to cover operational shortfalls. However, with the reported asset decline in 2023, its ability to sustain operations with current revenue levels of $53 is highly questionable.
What are the primary programs or activities of North Yarmouth Cumberland Mutual Fire Ins Co, given its NTEE code is unknown?
Without an NTEE code or program details, it's impossible to determine the specific mission or programs. The name suggests a historical role in fire insurance, but current activities are unclear from the financial data alone.
Filing History
IRS 990 filing history for North Yarmouth Cumberland Mutual Fire Ins Co showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), North Yarmouth Cumberland Mutual Fire Ins Co's revenue has declined by 100%, moving from $112K to $53. Total assets decreased by 99.5% over the same period, from $570K to $3K. Total functional expenses fell by 53.7%, from $39K to $18K. In its most recent filing year (2023), North Yarmouth Cumberland Mutual Fire Ins Co reported a deficit of $18K, with expenses exceeding revenue. The organization holds $1K in liabilities against $3K in assets (debt-to-asset ratio: 37.6%), resulting in net assets of $2K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $53 | $18K | $3K | $1K | — | — |
| 2022 | $-7,195 | $39K | $876K | $7K | — | View 990 |
| 2021 | $130K | $58K | $1.0M | $5K | — | View 990 |
| 2020 | $68K | $61K | $944K | $8K | — | — |
| 2019 | $73K | $73K | $912K | $11K | — | View 990 |
| 2018 | $102K | $45K | $820K | $19K | — | View 990 |
| 2017 | $76K | $48K | $886K | $25K | — | View 990 |
| 2016 | $49K | $49K | $794K | $17K | — | View 990 |
| 2015 | $77K | $50K | $753K | $17K | — | View 990 |
| 2014 | $58K | $43K | $631K | $13K | — | View 990 |
| 2013 | $77K | $40K | $615K | $11K | — | View 990 |
| 2012 | $51K | $44K | $576K | $6K | — | View 990 |
| 2011 | $112K | $39K | $570K | $11K | — | — |
Year-by-Year Financial Summary
- 2023: Revenue of $53, expenses of $18K, and assets of $3K.
- 2022: Revenue of $-7,195, expenses of $39K, and assets of $876K (revenue -105.6% year-over-year).
- 2021: Revenue of $130K, expenses of $58K, and assets of $1.0M (revenue +89.3% year-over-year).
- 2020: Revenue of $68K, expenses of $61K, and assets of $944K (revenue -6.6% year-over-year).
- 2019: Revenue of $73K, expenses of $73K, and assets of $912K (revenue -27.9% year-over-year).
- 2018: Revenue of $102K, expenses of $45K, and assets of $820K (revenue +34.5% year-over-year).
- 2017: Revenue of $76K, expenses of $48K, and assets of $886K (revenue +54.5% year-over-year).
- 2016: Revenue of $49K, expenses of $49K, and assets of $794K (revenue -36.3% year-over-year).
- 2015: Revenue of $77K, expenses of $50K, and assets of $753K (revenue +33.4% year-over-year).
- 2014: Revenue of $58K, expenses of $43K, and assets of $631K (revenue -25.4% year-over-year).
- 2013: Revenue of $77K, expenses of $40K, and assets of $615K (revenue +49.8% year-over-year).
- 2012: Revenue of $51K, expenses of $44K, and assets of $576K (revenue -54.0% year-over-year).
- 2011: Revenue of $112K, expenses of $39K, and assets of $570K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for North Yarmouth Cumberland Mutual Fire Ins Co:
Data Sources and Methodology
This transparency report for North Yarmouth Cumberland Mutual Fire Ins Co 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.