Ogunguit Chamber Of Commerce
Ogunquit Chamber of Commerce sees significant revenue surge and asset growth in 2023 with no officer compensation.
EIN: 10348709 · Ogunquit, ME · NTEE: S30 · Updated: 2026-03-28
Is Ogunguit Chamber Of Commerce Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Ogunguit Chamber Of Commerce directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Ogunguit Chamber Of Commerce
Ogunguit Chamber Of Commerce (EIN: 10348709) is a nonprofit organization based in Ogunquit, ME, classified under NTEE code S30. The organization reported total revenue of $383K and total assets of $1.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Ogunguit Chamber Of Commerce'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 Ogunguit Chamber Of Commerce with a Mission Score of 85 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: 80%
- fundraising: 10%
According to IRS 990 filings, Ogunguit Chamber Of Commerce allocates its expenses as follows: admin: 10%, programs: 80%, fundraising: 10%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that no salaries or other compensation are paid to its officers, which is highly commendable 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 Ogunguit Chamber Of Commerce's IRS 990 filings:
- Significant increase in liabilities in recent years without clear explanation in summary data.
Strengths
The following positive indicators were identified for Ogunguit Chamber Of Commerce:
- Consistent 0% officer compensation, indicating strong financial stewardship and mission focus.
- Substantial asset growth, nearly tripling from $547,925 in 2019 to $1,443,093 in 2023.
- Significant revenue surplus in 2023 ($980,197 revenue vs. $365,866 expenses).
Frequently Asked Questions about Ogunguit Chamber Of Commerce
Is Ogunguit Chamber Of Commerce a legitimate charity?
Based on AI analysis of IRS 990 filings, Ogunguit Chamber Of Commerce (EIN: 10348709) some concerns. Mission Score: 85/100. 1 red flag identified, 3 strengths noted.
How does Ogunguit Chamber Of Commerce spend its money?
Ogunguit Chamber Of Commerce directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Ogunguit Chamber Of Commerce tax-deductible?
Ogunguit Chamber Of Commerce is registered as a tax-exempt nonprofit (EIN: 10348709). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What caused the significant revenue increase to $980,197 in 2023?
The provided data does not specify the source of the substantial revenue increase in 2023. Further investigation into the 2023 IRS 990 filing would be needed to identify the specific revenue streams.
What is the nature of the increased liabilities, particularly the jump to $365,560 in 2022?
The IRS 990 data indicates a notable increase in liabilities. Without access to the full 990 forms, it's impossible to determine the specific nature of these liabilities (e.g., loans, deferred revenue, accounts payable).
How does the organization allocate its expenses between program services, administration, and fundraising?
The provided summary data does not break down expenses into specific categories. A detailed analysis of the full IRS 990 forms would be required to determine the exact percentages for program, administrative, and fundraising spending.
Filing History
IRS 990 filing history for Ogunguit Chamber Of Commerce showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Ogunguit Chamber Of Commerce's revenue has grown by 125.7%, moving from $434K to $980K. Total assets increased by 133.8% over the same period, from $617K to $1.4M. Total functional expenses fell by 15.5%, from $433K to $366K. In its most recent filing year (2023), Ogunguit Chamber Of Commerce reported a surplus of $614K, with revenue exceeding expenses. The organization holds $296K in liabilities against $1.4M in assets (debt-to-asset ratio: 20.5%), resulting in net assets of $1.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $980K | $366K | $1.4M | $296K | — | — |
| 2022 | $369K | $375K | $848K | $366K | — | — |
| 2021 | $385K | $332K | $836K | $344K | — | View 990 |
| 2020 | $314K | $312K | $662K | $226K | — | — |
| 2019 | $401K | $360K | $548K | $115K | — | View 990 |
| 2018 | $403K | $392K | $537K | $151K | — | View 990 |
| 2017 | $397K | $376K | $568K | $194K | — | — |
| 2016 | $401K | $398K | $491K | $137K | — | View 990 |
| 2015 | $424K | $426K | $478K | $126K | — | View 990 |
| 2014 | $411K | $414K | $539K | $186K | — | View 990 |
| 2013 | $425K | $414K | $513K | $157K | — | View 990 |
| 2012 | $424K | $425K | $533K | $188K | — | View 990 |
| 2011 | $434K | $433K | $617K | $271K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $980K, expenses of $366K, and assets of $1.4M (revenue +165.9% year-over-year).
- 2022: Revenue of $369K, expenses of $375K, and assets of $848K (revenue -4.2% year-over-year).
- 2021: Revenue of $385K, expenses of $332K, and assets of $836K (revenue +22.5% year-over-year).
- 2020: Revenue of $314K, expenses of $312K, and assets of $662K (revenue -21.6% year-over-year).
- 2019: Revenue of $401K, expenses of $360K, and assets of $548K (revenue -0.5% year-over-year).
- 2018: Revenue of $403K, expenses of $392K, and assets of $537K (revenue +1.5% year-over-year).
- 2017: Revenue of $397K, expenses of $376K, and assets of $568K (revenue -0.9% year-over-year).
- 2016: Revenue of $401K, expenses of $398K, and assets of $491K (revenue -5.6% year-over-year).
- 2015: Revenue of $424K, expenses of $426K, and assets of $478K (revenue +3.2% year-over-year).
- 2014: Revenue of $411K, expenses of $414K, and assets of $539K (revenue -3.2% year-over-year).
- 2013: Revenue of $425K, expenses of $414K, and assets of $513K (revenue +0.2% year-over-year).
- 2012: Revenue of $424K, expenses of $425K, and assets of $533K (revenue -2.4% year-over-year).
- 2011: Revenue of $434K, expenses of $433K, and assets of $617K.
Data Sources and Methodology
This transparency report for Ogunguit 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.