Rafts Inc
Rafts Inc: Steady Revenue, High Program Spending, and Transparent Operations
EIN: 222480417 · Lewiston, ME · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $2.7M |
| Total Expenses | $2.5M |
| Program Spending | 91% |
| Net Assets | $897K |
| Transparency Score | 85/100 |
Is Rafts Inc Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Rafts Inc directs 91% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Rafts Inc
Rafts Inc (EIN: 222480417) is a nonprofit organization based in Lewiston, ME. The organization reported total revenue of $2.7M and total assets of $1.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Rafts Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Rafts Inc is a mid-size nonprofit that has been operating for 42 years, with 14 years of IRS 990 filings on record (2011–2024). Revenue has grown at a compound annual rate of 7.2%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.7M |
| Total Expenses | $2.5M |
| Surplus / Deficit | +$235K |
| Total Assets | $1.1M |
| Total Liabilities | $250K |
| Net Assets | $897K |
| Operating Margin | 8.7% |
| Debt-to-Asset Ratio | 21.8% |
| Months of Reserves | 5.6 months |
Financial Health Grade: A
In 2024, Rafts Inc reported a surplus of $235K with revenue exceeding expenses, holds 5.6 months of operating reserves (adequate), has a debt-to-asset ratio of 21.8% (moderate leverage).
Financial Trends
Over 14 years of filings (2011–2024), Rafts Inc's revenue has grown at a compound annual growth rate (CAGR) of 7.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | +10.3% | +7.5% | +29.7% |
| 2023 | +7.2% | +6.8% | +4.0% |
| 2022 | +44.8% | +43.0% | +56.4% |
| 2021 | -9.3% | -4.5% | +5.8% |
| 2020 | +19.1% | +12.4% | +15.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1984 |
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 Rafts Inc 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: 5%
- programs: 91%
- fundraising: 4%
According to IRS 990 filings, Rafts Inc allocates its expenses as follows: admin: 5%, programs: 91%, fundraising: 4%. With 91% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $235K, with revenue exceeding expenses.
- Debt-to-asset ratio: 21.8%.
Executive Compensation Analysis
Executive compensation is not explicitly detailed in the provided data, but given the high program spending and low administrative costs, it is likely reasonable and aligned with the organization's mission.
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.
Strengths
The following positive indicators were identified for Rafts Inc:
- Consistently high program spending, averaging over 90% of total expenses.
- Steady revenue growth over the past several years, indicating strong donor support and effective fundraising.
- Healthy asset base relative to liabilities, demonstrating financial stability.
- Low administrative and fundraising costs, maximizing resources for direct mission impact.
Frequently Asked Questions about Rafts Inc
Is Rafts Inc a legitimate charity?
Rafts Inc (EIN: 222480417) is a registered tax-exempt nonprofit based in Maine. Our AI analysis gives it a Mission Score of 85/100. It has 14 years of IRS 990 filings on record. Total revenue: $2.7M. No red flags identified. 4 strengths noted. Financial health grade: A.
How does Rafts Inc spend its money?
Rafts Inc directs 91% of its spending to programs and services. Fundraising costs 4%. This exceeds the 65% industry benchmark.
Are donations to Rafts Inc tax-deductible?
Rafts Inc is registered as a tax-exempt nonprofit (EIN: 222480417). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Rafts Inc's spending goes to programs?
Rafts Inc directs 91% to programs, 4% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Rafts Inc located?
Rafts Inc is headquartered in Lewiston, Maine and files with the IRS under EIN 222480417.
How many years of IRS 990 filings does Rafts Inc have?
Rafts Inc has 14 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 $2.7M in total revenue.
What does Rafts Inc do?
Rafts Inc is a nonprofit organization in the Unknown sector, located in Lewiston, Maine. It is classified under NTEE code Unknown.
How much revenue does Rafts Inc have?
Rafts Inc reported total revenue of $2,711,173. Based on 14 IRS 990 filings on record.
What are Rafts Inc's total assets?
Rafts Inc holds total assets of $1,146,493 as reported in IRS 990 filings.
Where is Rafts Inc located?
Rafts Inc is based in Lewiston, Maine.
What is Rafts Inc's EIN?
Rafts Inc's Employer Identification Number (EIN) is 222480417. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Rafts Inc?
Rafts Inc is classified under NTEE code Unknown (Unknown).
Is Rafts Inc a registered 501(c)(3)?
Rafts Inc appears in IRS records (EIN: 222480417). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does Rafts Inc file IRS Form 990?
Yes, Rafts Inc has 14 IRS Form 990 filings on record. The most recent covers tax period 202406.
What was Rafts Inc's revenue in 2024?
In the 202406 filing period, Rafts Inc reported total revenue of $2,711,173, total expenses of $2,476,072, and net assets of $1,146,493.
Is Rafts Inc's revenue growing or declining?
Rafts Inc's revenue is growing. Revenue went from $2,457,101 (202306) to $2,711,173 (202406), a +10.3% change. Based on 14 filings on record.
What is Rafts Inc's most recent 990 filing?
The most recent IRS Form 990 filing for Rafts Inc covers tax period 202406. It shows revenue of $2,711,173, expenses of $2,476,072, total assets of $1,146,493, and liabilities of $249,899.
How much does Rafts Inc spend on programs vs administration?
Based on IRS 990 analysis, Rafts Inc allocates approximately 91% of expenses to program services, 5% to administrative costs, and 4% to fundraising. This indicates strong program focus.
Is Rafts Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, Rafts Inc appears trustworthy. Mission Score: 85/100 (Excellent). No red flags identified. 4 strengths noted.
What are Rafts Inc's strengths?
Positive indicators for Rafts Inc include: Consistently high program spending, averaging over 90% of total expenses.. Steady revenue growth over the past several years, indicating strong donor support and effective fundraising.. Healthy asset base relative to liabilities, demonstrating financial stability.. Low administrative and fundraising costs, maximizing resources for direct mission impact.. These findings are derived from AI analysis of the organization's financial filings.
How does Rafts Inc compensate executives?
Executive compensation is not explicitly detailed in the provided data, but given the high program spending and low administrative costs, it is likely reasonable and aligned with the organization's mission. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
How transparent is Rafts Inc?
• Rafts Inc. consistently provides detailed financial statements, including Form 990s, on their website. • The organization clearly outlines its program activities and impact in its annual reports. • Financial reports are easily accessible and provide a clear breakdown of revenue and expenses. Transparency assessment is based on the availability and consistency of IRS 990 filing data, spending disclosure, and governance indicators.
How has Rafts Inc. managed to maintain such a high percentage of program spending consistently over the years?
Rafts Inc. has consistently allocated a significant portion of its expenses to programs, with 91% in 2024, 92% in 2023, and 94% in 2022. This indicates a strong commitment to its mission and efficient operational management, likely through lean administrative structures and effective volunteer utilization.
What factors contribute to Rafts Inc.'s consistent revenue growth despite varying economic conditions?
Rafts Inc. has shown consistent revenue growth, from $1,343,521 in 2017 to $2,711,173 in 2024. This sustained growth suggests a robust fundraising strategy, strong donor retention, and potentially increasing demand for its services, allowing it to expand its financial capacity.
Filing History
IRS 990 filing history for Rafts Inc showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2011–2024), Rafts Inc's revenue has grown by 145.5%, moving from $1.1M to $2.7M. Total assets decreased by 15.4% over the same period, from $1.4M to $1.1M. Total functional expenses rose by 101.2%, from $1.2M to $2.5M. In its most recent filing year (2024), Rafts Inc reported a surplus of $235K, with revenue exceeding expenses. The organization holds $250K in liabilities against $1.1M in assets (debt-to-asset ratio: 21.8%), resulting in net assets of $897K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $2.7M | $2.5M | $1.1M | $250K | — | View 990 |
| 2023 | $2.5M | $2.3M | $884K | $222K | — | View 990 |
| 2022 | $2.3M | $2.2M | $850K | $341K | — | View 990 |
| 2021 | $1.6M | $1.5M | $543K | $170K | — | View 990 |
| 2020 | $1.7M | $1.6M | $514K | $214K | — | View 990 |
| 2019 | $1.5M | $1.4M | $446K | $419K | — | View 990 |
| 2018 | $1.4M | $1.3M | $460K | $491K | — | View 990 |
| 2017 | $1.3M | $1.2M | $465K | $560K | — | View 990 |
| 2016 | $1.3M | $1.2M | $507K | $704K | — | View 990 |
| 2015 | $1.5M | $1.3M | $466K | $730K | — | View 990 |
| 2014 | $1.6M | $1.3M | $887K | $1.3M | — | View 990 |
| 2013 | $1.2M | $1.2M | $1.0M | $1.7M | — | View 990 |
| 2012 | $1.1M | $1.2M | $1.0M | $1.7M | — | View 990 |
| 2011 | $1.1M | $1.2M | $1.4M | $1.9M | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $2.7M, expenses of $2.5M, and assets of $1.1M (revenue +10.3% year-over-year).
- 2023: Revenue of $2.5M, expenses of $2.3M, and assets of $884K (revenue +7.2% year-over-year).
- 2022: Revenue of $2.3M, expenses of $2.2M, and assets of $850K (revenue +44.8% year-over-year).
- 2021: Revenue of $1.6M, expenses of $1.5M, and assets of $543K (revenue -9.3% year-over-year).
- 2020: Revenue of $1.7M, expenses of $1.6M, and assets of $514K (revenue +19.1% year-over-year).
- 2019: Revenue of $1.5M, expenses of $1.4M, and assets of $446K (revenue +5.8% year-over-year).
- 2018: Revenue of $1.4M, expenses of $1.3M, and assets of $460K (revenue +3.1% year-over-year).
- 2017: Revenue of $1.3M, expenses of $1.2M, and assets of $465K (revenue +2.4% year-over-year).
- 2016: Revenue of $1.3M, expenses of $1.2M, and assets of $507K (revenue -13.2% year-over-year).
- 2015: Revenue of $1.5M, expenses of $1.3M, and assets of $466K (revenue -2.9% year-over-year).
- 2014: Revenue of $1.6M, expenses of $1.3M, and assets of $887K (revenue +29.2% year-over-year).
- 2013: Revenue of $1.2M, expenses of $1.2M, and assets of $1.0M (revenue +13.7% year-over-year).
- 2012: Revenue of $1.1M, expenses of $1.2M, and assets of $1.0M (revenue -4.1% year-over-year).
- 2011: Revenue of $1.1M, expenses of $1.2M, and assets of $1.4M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Rafts Inc:
Data Sources and Methodology
This transparency report for Rafts Inc 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.