Pittsfield Development Corporation
Pittsfield Development Corporation: Minimal Activity, High Assets, and Unclear Mission
EIN: 222559719 · Pittsfield, ME · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Expenses | $1K |
| Net Assets | $280K |
| Transparency Score | 20/100 |
Is Pittsfield Development Corporation Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Pittsfield Development Corporation
Pittsfield Development Corporation (EIN: 222559719) is a nonprofit organization based in Pittsfield, ME. The organization reported total revenue of $0 and total assets of $0 according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Pittsfield Development Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Pittsfield Development Corporation is a small nonprofit that has been operating for 6 years, with 4 years of IRS 990 filings on record (2020–2023). Revenue has grown at a compound annual rate of -57.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $115K |
| Total Expenses | $1K |
| Surplus / Deficit | +$113K |
| Total Assets | $280K |
| Net Assets | $280K |
| Operating Margin | 98.9% |
| Months of Reserves | 2657.5 months |
Financial Health Grade: A
In 2023, Pittsfield Development Corporation reported a surplus of $113K with revenue exceeding expenses, holds 2657.5 months of operating reserves (strong position).
Financial Trends
Over 4 years of filings (2020–2023), Pittsfield Development Corporation's revenue has declined at a compound annual growth rate (CAGR) of -57.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +2121.4% | -75.6% | +68.0% |
| 2022 | +1186.8% | +1214.7% | +-0.0% |
| 2021 | -100.0% | -100.0% | +0.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2020 |
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 Pittsfield Development Corporation 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: 0%
- programs: 0%
- fundraising: 0%
According to IRS 990 filings, Pittsfield Development Corporation allocates its expenses as follows: admin: 0%, programs: 0%, fundraising: 0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $113K, with revenue exceeding expenses.
Executive Compensation Analysis
Executive compensation cannot be assessed as no compensation is reported in the available filings, aligning with the minimal operational expenses.
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 Pittsfield Development Corporation's IRS 990 filings:
- Extremely low reported revenue and expenses (e.g., $1,146 revenue, $1,265 expenses in 2023) raise questions about active operations.
- Significant assets (e.g., $280,148 in 2023) with no corresponding program spending or clear use.
- The organization's purpose and activities are not evident from the financial data, suggesting a potential lack of active 'development' work.
- No reported program service accomplishments or expenditures in recent years.
Strengths
The following positive indicators were identified for Pittsfield Development Corporation:
- Maintains a legal entity and asset base.
Frequently Asked Questions about Pittsfield Development Corporation
Is Pittsfield Development Corporation a legitimate charity?
Based on AI analysis of IRS 990 filings, Pittsfield Development Corporation (EIN: 222559719) significant concerns. Mission Score: 20/100. 4 red flags identified, 1 strength noted.
How does Pittsfield Development Corporation spend its money?
Detailed spending breakdown data is not yet available for Pittsfield Development Corporation. Check back for updated IRS 990 analysis.
Are donations to Pittsfield Development Corporation tax-deductible?
Pittsfield Development Corporation is registered as a tax-exempt nonprofit (EIN: 222559719). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Pittsfield Development Corporation located?
Pittsfield Development Corporation is headquartered in Pittsfield, Maine and files with the IRS under EIN 222559719.
How many years of IRS 990 filings does Pittsfield Development Corporation have?
Pittsfield Development Corporation has 4 years of IRS 990 filings on record at NonprofitSpending. Additional filing years may become available as the IRS releases new data.
What does Pittsfield Development Corporation do?
Pittsfield Development Corporation is a nonprofit organization in the Unknown sector, located in Pittsfield, Maine. It is classified under NTEE code Unknown.
How much revenue does Pittsfield Development Corporation have?
Pittsfield Development Corporation reported total revenue of N/A. Based on 4 IRS 990 filings on record.
What are Pittsfield Development Corporation's total assets?
Pittsfield Development Corporation holds total assets of N/A as reported in IRS 990 filings.
Where is Pittsfield Development Corporation located?
Pittsfield Development Corporation is based in Pittsfield, Maine.
What is Pittsfield Development Corporation's EIN?
Pittsfield Development Corporation's Employer Identification Number (EIN) is 222559719. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Pittsfield Development Corporation?
Pittsfield Development Corporation is classified under NTEE code Unknown (Unknown).
Is Pittsfield Development Corporation a registered 501(c)(3)?
Pittsfield Development Corporation appears in IRS records (EIN: 222559719). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does Pittsfield Development Corporation file IRS Form 990?
Yes, Pittsfield Development Corporation has 4 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was Pittsfield Development Corporation's revenue in 2023?
In the 202312 filing period, Pittsfield Development Corporation reported total revenue of $114,626, total expenses of $1,265, and net assets of $280,148.
Is Pittsfield Development Corporation's revenue growing or declining?
Pittsfield Development Corporation's revenue is growing. Revenue went from $5,160 (202212) to $114,626 (202312), a +2121.4% change. Based on 4 filings on record.
What is Pittsfield Development Corporation's most recent 990 filing?
The most recent IRS Form 990 filing for Pittsfield Development Corporation covers tax period 202312. It shows revenue of $114,626, expenses of $1,265, total assets of $280,148, and liabilities of N/A.
Is Pittsfield Development Corporation a trustworthy charity?
Based on AI analysis of IRS 990 data, Pittsfield Development Corporation has notable concerns. Mission Score: 20/100 (Poor). 4 red flags identified. 1 strength noted.
What are the red flags for Pittsfield Development Corporation?
The following concerns were identified: Extremely low reported revenue and expenses (e.g., $1,146 revenue, $1,265 expenses in 2023) raise questions about active operations.. Significant assets (e.g., $280,148 in 2023) with no corresponding program spending or clear use.. The organization's purpose and activities are not evident from the financial data, suggesting a potential lack of active 'development' work.. No reported program service accomplishments or expenditures in recent years.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Pittsfield Development Corporation's strengths?
Positive indicators for Pittsfield Development Corporation include: Maintains a legal entity and asset base.. These findings are derived from AI analysis of the organization's financial filings.
How does Pittsfield Development Corporation compensate executives?
Executive compensation cannot be assessed as no compensation is reported in the available filings, aligning with the minimal operational expenses. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the substantial assets and minimal operational activity, what is the long-term strategy for Pittsfield Development Corporation, and how are these assets intended to be deployed for community benefit?
The filings do not provide insight into the strategic use of assets like the $280,148 reported in 2023, nor do they explain the discrepancy between asset holdings and the near-absence of operational or program expenditures.
Filing History
IRS 990 filing history for Pittsfield Development Corporation showing financial trends over 4 years of public records:
Over 4 years of IRS 990 filings (2020–2023), Pittsfield Development Corporation's revenue has declined by 92.4%, moving from $1.5M to $115K. Total assets increased by 67.9% over the same period, from $167K to $280K. Total functional expenses fell by 99.9%, from $1.3M to $1K. In its most recent filing year (2023), Pittsfield Development Corporation reported a surplus of $113K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $115K | $1K | $280K | $0 | — | — |
| 2022 | $5K | $5K | $167K | $0 | — | View 990 |
| 2021 | $401 | $395 | $167K | $0 | — | View 990 |
| 2020 | $1.5M | $1.3M | $167K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $115K, expenses of $1K, and assets of $280K (revenue +2121.4% year-over-year).
- 2022: Revenue of $5K, expenses of $5K, and assets of $167K (revenue +1186.8% year-over-year).
- 2021: Revenue of $401, expenses of $395, and assets of $167K (revenue -100.0% year-over-year).
- 2020: Revenue of $1.5M, expenses of $1.3M, and assets of $167K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Pittsfield Development Corporation:
Data Sources and Methodology
This transparency report for Pittsfield 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.