Redco Foundation Inc
Redco Foundation Inc maintains strong asset growth and zero executive compensation amidst fluctuating revenues.
EIN: 10546160 · Portland, ME · NTEE: T22 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.7M |
| Total Expenses | $337K |
| Program Spending | 90% |
| CEO/Top Officer Pay | $6 |
| Net Assets | $4.8M |
| Transparency Score | 92/100 |
Is Redco Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Redco Foundation Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Redco Foundation Inc
Redco Foundation Inc (EIN: 10546160) is a nonprofit organization based in Portland, ME, classified under NTEE code T22. The organization reported total revenue of $1.7M and total assets of $5.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Redco Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Redco Foundation Inc is a mid-size nonprofit that has been operating for 24 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 11.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $364K |
| Total Expenses | $337K |
| Surplus / Deficit | +$28K |
| Total Assets | $4.8M |
| Total Liabilities | $1 |
| Net Assets | $4.8M |
| Operating Margin | 7.6% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 171.6 months |
Financial Health Grade: A
In 2023, Redco Foundation Inc reported a surplus of $28K with revenue exceeding expenses, holds 171.6 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), Redco Foundation Inc's revenue has grown at a compound annual growth rate (CAGR) of 11.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -56.7% | +105.8% | +3.7% |
| 2022 | +26.9% | -37.9% | -14.6% |
| 2021 | +124.2% | +307.3% | +26.7% |
| 2020 | -26.3% | -12.3% | +11.0% |
| 2019 | -3.5% | -93.3% | +8.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2002 |
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 Redco Foundation Inc with a Mission Score of 92 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: 8%
- programs: 90%
- fundraising: 2%
According to IRS 990 filings, Redco Foundation Inc allocates its expenses as follows: admin: 8%, programs: 90%, fundraising: 2%. With 90% 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 surplus of $28K, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation is consistently reported at 0% across all available filings, indicating that no officers or key employees receive salaries from the organization, which is highly unusual for an organization with assets nearing $6 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 Redco Foundation Inc's IRS 990 filings:
- Lack of detailed expense breakdown (program, admin, fundraising) in provided data makes granular efficiency analysis difficult.
- Significant expense spikes in 2015, 2013, and 2012 without corresponding revenue increases could indicate reliance on reserves or unusual spending patterns.
Strengths
The following positive indicators were identified for Redco Foundation Inc:
- Consistent asset growth, reaching $5,798,370 in the latest period, indicates strong financial management.
- Zero officer compensation reported across all filings, suggesting high efficiency and dedication of resources to the mission.
- Minimal liabilities ($0 or $1) consistently reported, demonstrating excellent financial stability.
- Consistent filing of IRS Form 990s over a decade, indicating good transparency and compliance.
- Healthy surpluses in most recent years (e.g., 2022 revenue of $841,694 vs. expenses of $163,586) contribute to financial resilience.
Frequently Asked Questions about Redco Foundation Inc
Is Redco Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Redco Foundation Inc (EIN: 10546160) some concerns. Mission Score: 92/100. 2 red flags identified, 5 strengths noted.
How does Redco Foundation Inc spend its money?
Redco Foundation Inc directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Redco Foundation Inc tax-deductible?
Redco Foundation Inc is registered as a tax-exempt nonprofit (EIN: 10546160). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Redco Foundation Inc CEO make?
Redco Foundation Inc's highest-compensated officer earns $6 annually. The organization reported $1.7M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Redco Foundation Inc's spending goes to programs?
Redco Foundation Inc directs 90% to programs, 2% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Redco Foundation Inc compare to similar nonprofits?
With a transparency score of 92/100 (Excellent), Redco Foundation Inc is above average for NTEE category T22 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Redco Foundation Inc located?
Redco Foundation Inc is headquartered in Portland, Maine and files with the IRS under EIN 10546160. It is classified under NTEE code T22.
How many years of IRS 990 filings does Redco Foundation Inc have?
Redco Foundation Inc 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 $1.7M in total revenue.
How does Redco Foundation Inc manage to operate with 0% officer compensation?
The consistent reporting of 0% officer compensation suggests that the organization's leadership may be entirely volunteer-based or compensated through other means not reported as officer compensation on the 990, such as through a related entity, though the latter is less likely given the consistent reporting.
What are the primary programs or activities of Redco Foundation Inc?
Based on the NTEE code T22 (Philanthropy, Voluntarism & Grantmaking Foundations), Redco Foundation Inc likely operates as a grantmaking foundation, supporting other non-profits or initiatives. The provided data does not detail specific program areas.
Why did expenses significantly exceed revenue in 2015, 2013, and 2012?
In 2015, expenses were $1,097,010 against $416,207 in revenue; in 2013, expenses were $1,112,521 against $427,828 in revenue; and in 2012, expenses were $1,072,760 against $328,505 in revenue. This could indicate significant grant disbursements or large one-time investments in those years, potentially drawing from accumulated assets or prior year surpluses.
Filing History
IRS 990 filing history for Redco Foundation Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Redco Foundation Inc's revenue has grown by 278.1%, moving from $96K to $364K. Total assets increased by 6.3% over the same period, from $4.5M to $4.8M. Total functional expenses rose by 294.4%, from $85K to $337K. In its most recent filing year (2023), Redco Foundation Inc reported a surplus of $28K, with revenue exceeding expenses. The organization holds $1 in liabilities against $4.8M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $4.8M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $364K | $337K | $4.8M | $1 | — | View 990 |
| 2022 | $842K | $164K | $4.6M | $1 | — | View 990 |
| 2021 | $664K | $263K | $5.4M | $1 | — | View 990 |
| 2020 | $296K | $65K | $4.3M | $1 | — | View 990 |
| 2019 | $402K | $74K | $3.9M | $0 | — | View 990 |
| 2015 | $416K | $1.1M | $3.6M | $0 | — | View 990 |
| 2014 | $404K | $24K | $3.5M | $0 | — | View 990 |
| 2013 | $428K | $1.1M | $3.1M | $0 | — | View 990 |
| 2012 | $329K | $1.1M | $3.8M | $1 | — | View 990 |
| 2011 | $96K | $85K | $4.5M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $364K, expenses of $337K, and assets of $4.8M (revenue -56.7% year-over-year).
- 2022: Revenue of $842K, expenses of $164K, and assets of $4.6M (revenue +26.9% year-over-year).
- 2021: Revenue of $664K, expenses of $263K, and assets of $5.4M (revenue +124.2% year-over-year).
- 2020: Revenue of $296K, expenses of $65K, and assets of $4.3M (revenue -26.3% year-over-year).
- 2019: Revenue of $402K, expenses of $74K, and assets of $3.9M (revenue -3.5% year-over-year).
- 2015: Revenue of $416K, expenses of $1.1M, and assets of $3.6M (revenue +3.0% year-over-year).
- 2014: Revenue of $404K, expenses of $24K, and assets of $3.5M (revenue -5.6% year-over-year).
- 2013: Revenue of $428K, expenses of $1.1M, and assets of $3.1M (revenue +30.2% year-over-year).
- 2012: Revenue of $329K, expenses of $1.1M, and assets of $3.8M (revenue +241.0% year-over-year).
- 2011: Revenue of $96K, expenses of $85K, and assets of $4.5M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Redco Foundation Inc:
Data Sources and Methodology
This transparency report for Redco Foundation 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.