Portland Provident Association
Portland Provident Association consistently operates at a deficit while maintaining substantial assets and reporting no officer compensation.
EIN: 16012457 · Portland, ME · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $734K |
| Total Expenses | $105K |
| Program Spending | 80% |
| CEO/Top Officer Pay | $2 |
| Net Assets | $1.9M |
| Transparency Score | 75/100 |
Is Portland Provident Association Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Portland Provident Association directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Portland Provident Association
Portland Provident Association (EIN: 16012457) is a nonprofit organization based in Portland, ME. The organization reported total revenue of $734K and total assets of $2.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Portland Provident Association's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Portland Provident Association is a small nonprofit that has been operating for 98 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -16.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $46K |
| Total Expenses | $105K |
| Surplus / Deficit | $-58,937 |
| Total Assets | $1.9M |
| Total Liabilities | $1 |
| Net Assets | $1.9M |
| Operating Margin | -126.9% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 220.7 months |
Financial Health Grade: B
In 2023, Portland Provident Association reported a deficit of $59K with expenses exceeding revenue, holds 220.7 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), Portland Provident Association's revenue has declined at a compound annual growth rate (CAGR) of -16.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -32.4% | -6.6% | +10.1% |
| 2022 | -4.1% | +16.9% | -15.8% |
| 2021 | -41.3% | +13.1% | +28.5% |
| 2020 | +217.0% | +0.5% | +2.9% |
| 2019 | -74.1% | +5.7% | +13.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1928 |
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 Portland Provident Association with a Mission Score of 75 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: 80%
- fundraising: 0%
According to IRS 990 filings, Portland Provident Association allocates its expenses as follows: admin: 20%, programs: 80%, fundraising: 0%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $59K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation is 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 highly efficient for an organization of its size with assets over $2 million.
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 Portland Provident Association's IRS 990 filings:
- Consistent operational deficits (e.g., $46,431 revenue vs. $105,368 expenses in 2023)
- Lack of detailed expense breakdown (program, admin, fundraising) in provided data
Strengths
The following positive indicators were identified for Portland Provident Association:
- Zero officer compensation reported, indicating high efficiency in leadership costs
- Substantial and growing asset base ($1,937,649 in 2023, up from $655,308 in 2011)
- Very low liabilities ($1 in recent years)
Frequently Asked Questions about Portland Provident Association
Is Portland Provident Association a legitimate charity?
Portland Provident Association (EIN: 16012457) is a registered tax-exempt nonprofit based in Maine. Our AI analysis gives it a Mission Score of 75/100. It has 10 years of IRS 990 filings on record. Total revenue: $734K. 2 red flags identified. 3 strengths noted. Financial health grade: B.
How does Portland Provident Association spend its money?
Portland Provident Association directs 80% of its spending to programs and services. This exceeds the 65% industry benchmark.
Are donations to Portland Provident Association tax-deductible?
Portland Provident Association is registered as a tax-exempt nonprofit (EIN: 16012457). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Portland Provident Association CEO make?
Portland Provident Association's highest-compensated officer earns $2 annually. The organization reported $734K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
Where is Portland Provident Association located?
Portland Provident Association is headquartered in Portland, Maine and files with the IRS under EIN 16012457.
How many years of IRS 990 filings does Portland Provident Association have?
Portland Provident Association has 10 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 $734K in total revenue.
Is Portland Provident Association financially sustainable given its consistent operational deficits?
The organization has consistently spent more than it earned in recent years (e.g., $105,368 expenses vs. $46,431 revenue in 2023). While it has substantial assets ($1,937,649 in 2023), this trend suggests reliance on reserves or non-operating income, which needs further investigation for long-term sustainability.
What is the primary source of funding for Portland Provident Association?
The filings show 'Revenue' which can include various sources. Given the operational deficits, it's possible that investment income from its substantial assets plays a significant role, but specific breakdowns are not provided in the summary data.
How does the lack of officer compensation impact the organization?
The 0% officer compensation reported across all filings indicates a highly volunteer-driven leadership or that compensation is structured in a way not reported as 'officer compensation.' This significantly reduces administrative overhead and allows more funds to be directed towards the mission.
Filing History
IRS 990 filing history for Portland Provident Association showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Portland Provident Association's revenue has declined by 88.3%, moving from $397K to $46K. Total assets increased by 195.7% over the same period, from $655K to $1.9M. Total functional expenses rose by 74%, from $61K to $105K. In its most recent filing year (2023), Portland Provident Association reported a deficit of $59K, with expenses exceeding revenue. The organization holds $1 in liabilities against $1.9M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $1.9M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $46K | $105K | $1.9M | $1 | — | — |
| 2022 | $69K | $113K | $1.8M | $1 | — | View 990 |
| 2021 | $72K | $97K | $2.1M | $1 | — | View 990 |
| 2020 | $122K | $85K | $1.6M | $0 | — | View 990 |
| 2019 | $39K | $85K | $1.6M | $0 | — | View 990 |
| 2015 | $149K | $80K | $1.4M | $0 | — | View 990 |
| 2014 | $139K | $73K | $1.4M | $0 | — | View 990 |
| 2013 | $180K | $73K | $1.2M | $0 | — | View 990 |
| 2012 | $398K | $77K | $974K | $0 | — | View 990 |
| 2011 | $397K | $61K | $655K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $46K, expenses of $105K, and assets of $1.9M (revenue -32.4% year-over-year).
- 2022: Revenue of $69K, expenses of $113K, and assets of $1.8M (revenue -4.1% year-over-year).
- 2021: Revenue of $72K, expenses of $97K, and assets of $2.1M (revenue -41.3% year-over-year).
- 2020: Revenue of $122K, expenses of $85K, and assets of $1.6M (revenue +217.0% year-over-year).
- 2019: Revenue of $39K, expenses of $85K, and assets of $1.6M (revenue -74.1% year-over-year).
- 2015: Revenue of $149K, expenses of $80K, and assets of $1.4M (revenue +7.2% year-over-year).
- 2014: Revenue of $139K, expenses of $73K, and assets of $1.4M (revenue -22.9% year-over-year).
- 2013: Revenue of $180K, expenses of $73K, and assets of $1.2M (revenue -54.7% year-over-year).
- 2012: Revenue of $398K, expenses of $77K, and assets of $974K (revenue +0.1% year-over-year).
- 2011: Revenue of $397K, expenses of $61K, and assets of $655K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Portland Provident Association:
Data Sources and Methodology
This transparency report for Portland Provident Association 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.