Redington East Homeowners Association Inc
Redington East Homeowners Association consistently operates near break-even with no reported liabilities and volunteer leadership.
EIN: 10392895 · Carrabassett Valley, ME · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $154K |
| Total Expenses | $112K |
| Program Spending | 90% |
| Net Assets | $41K |
| Transparency Score | 85/100 |
Is Redington East Homeowners Association Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Redington East Homeowners Association Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Redington East Homeowners Association Inc
Redington East Homeowners Association Inc (EIN: 10392895) is a nonprofit organization based in Carrabassett Valley, ME. The organization reported total revenue of $154K and total assets of $29K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Redington East Homeowners Association Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Redington East Homeowners Association Inc is a small nonprofit that has been operating for 31 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 2.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $115K |
| Total Expenses | $112K |
| Surplus / Deficit | +$3K |
| Total Assets | $41K |
| Net Assets | $41K |
| Operating Margin | 2.7% |
| Months of Reserves | 4.4 months |
Financial Health Grade: A
In 2023, Redington East Homeowners Association Inc reported a surplus of $3K with revenue exceeding expenses, holds 4.4 months of operating reserves (adequate).
Financial Trends
Over 13 years of filings (2011–2023), Redington East Homeowners Association Inc's revenue has grown at a compound annual growth rate (CAGR) of 2.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +5.8% | -7.4% | +8.1% |
| 2022 | -3.3% | +5.2% | -24.1% |
| 2021 | -1.6% | +16.2% | -4.7% |
| 2020 | +8.8% | -5.5% | +41.1% |
| 2019 | -0.9% | +0.6% | +0.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1995 |
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 Redington East Homeowners Association 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: 10%
- programs: 90%
- fundraising: 0%
According to IRS 990 filings, Redington East Homeowners Association Inc allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. 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 $3K, with revenue exceeding expenses.
Executive Compensation Analysis
The organization reports 0% officer compensation across all available filings, indicating that its leadership is likely volunteer-based, which is highly efficient for a nonprofit of this 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 Redington East Homeowners Association Inc's IRS 990 filings:
- Lack of detailed expense breakdown (program vs. admin) in provided summary data
Strengths
The following positive indicators were identified for Redington East Homeowners Association Inc:
- Consistent IRS 990 filing history (13 filings)
- Zero officer compensation, indicating volunteer leadership and low overhead
- No reported liabilities across all filing periods
- Consistent operation near break-even, indicating responsible financial management
- Stable revenue base over the past decade
Frequently Asked Questions about Redington East Homeowners Association Inc
Is Redington East Homeowners Association Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Redington East Homeowners Association Inc (EIN: 10392895) some concerns. Mission Score: 85/100. 1 red flag identified, 5 strengths noted.
How does Redington East Homeowners Association Inc spend its money?
Redington East Homeowners Association Inc directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Redington East Homeowners Association Inc tax-deductible?
Redington East Homeowners Association Inc is registered as a tax-exempt nonprofit (EIN: 10392895). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Redington East Homeowners Association Inc located?
Redington East Homeowners Association Inc is headquartered in Carrabassett Valley, Maine and files with the IRS under EIN 10392895.
How many years of IRS 990 filings does Redington East Homeowners Association Inc have?
Redington East Homeowners Association Inc has 13 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 $154K in total revenue.
Is Redington East Homeowners Association Inc. financially stable?
Yes, the organization appears financially stable, consistently operating near break-even with no reported liabilities across 13 years of filings, and maintaining modest assets.
Does Redington East Homeowners Association Inc. pay its officers?
No, the IRS 990 data consistently shows 0% officer compensation, suggesting a volunteer-led organization.
What is the trend in Redington East Homeowners Association Inc.'s revenue?
Revenue has generally fluctuated around the $100,000 to $115,000 mark over the past decade, with the latest reported revenue at $114,960 in 202309.
How does Redington East Homeowners Association Inc. manage its liabilities?
The organization consistently reports $0 in liabilities across all 13 filings, indicating strong financial management and no reliance on debt.
Filing History
IRS 990 filing history for Redington East Homeowners Association Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Redington East Homeowners Association Inc's revenue has grown by 40.8%, moving from $82K to $115K. Total assets decreased by 7.8% over the same period, from $45K to $41K. Total functional expenses rose by 47.4%, from $76K to $112K. In its most recent filing year (2023), Redington East Homeowners Association Inc reported a surplus of $3K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $115K | $112K | $41K | $0 | — | View 990 |
| 2022 | $109K | $121K | $38K | $0 | — | View 990 |
| 2021 | $112K | $115K | $50K | $0 | — | View 990 |
| 2020 | $114K | $99K | $53K | $0 | — | View 990 |
| 2019 | $105K | $105K | $37K | $0 | — | View 990 |
| 2018 | $106K | $104K | $37K | $0 | — | View 990 |
| 2017 | $95K | $91K | $35K | $0 | — | View 990 |
| 2016 | $101K | $91K | $31K | $0 | — | View 990 |
| 2015 | $100K | $99K | $21K | $0 | — | View 990 |
| 2014 | $87K | $101K | $21K | $0 | — | View 990 |
| 2013 | $79K | $81K | $35K | $0 | — | View 990 |
| 2012 | $80K | $89K | $36K | $0 | — | View 990 |
| 2011 | $82K | $76K | $45K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $115K, expenses of $112K, and assets of $41K (revenue +5.8% year-over-year).
- 2022: Revenue of $109K, expenses of $121K, and assets of $38K (revenue -3.3% year-over-year).
- 2021: Revenue of $112K, expenses of $115K, and assets of $50K (revenue -1.6% year-over-year).
- 2020: Revenue of $114K, expenses of $99K, and assets of $53K (revenue +8.8% year-over-year).
- 2019: Revenue of $105K, expenses of $105K, and assets of $37K (revenue -0.9% year-over-year).
- 2018: Revenue of $106K, expenses of $104K, and assets of $37K (revenue +11.9% year-over-year).
- 2017: Revenue of $95K, expenses of $91K, and assets of $35K (revenue -5.9% year-over-year).
- 2016: Revenue of $101K, expenses of $91K, and assets of $31K (revenue +0.9% year-over-year).
- 2015: Revenue of $100K, expenses of $99K, and assets of $21K (revenue +14.3% year-over-year).
- 2014: Revenue of $87K, expenses of $101K, and assets of $21K (revenue +9.6% year-over-year).
- 2013: Revenue of $79K, expenses of $81K, and assets of $35K (revenue -0.8% year-over-year).
- 2012: Revenue of $80K, expenses of $89K, and assets of $36K (revenue -1.9% year-over-year).
- 2011: Revenue of $82K, expenses of $76K, and assets of $45K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Redington East Homeowners Association Inc:
Data Sources and Methodology
This transparency report for Redington East Homeowners Association 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.