Richford Economic Advancement Corporation
Richford Economic Advancement Corporation: Minimal Activity, High Overhead
EIN: 222514325 · Richford, VT · NTEE: P20 · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Expenses | $25K |
| Net Assets | $47K |
| Transparency Score | 20/100 |
Is Richford Economic Advancement Corporation Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Richford Economic Advancement Corporation
Richford Economic Advancement Corporation (EIN: 222514325) is a nonprofit organization based in Richford, VT, classified under NTEE code P20. 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 Richford Economic Advancement Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Richford Economic Advancement Corporation is a micro nonprofit that has been operating for 7 years.
Key Financial Metrics (2018)
From the most recent IRS 990 filing on record:
| Total Revenue | $11K |
| Total Expenses | $25K |
| Surplus / Deficit | $-13,386 |
| Total Assets | $57K |
| Total Liabilities | $11K |
| Net Assets | $47K |
| Operating Margin | -119.2% |
| Debt-to-Asset Ratio | 18.4% |
| Months of Reserves | 27.9 months |
Financial Health Grade: B
In 2018, Richford Economic Advancement Corporation reported a deficit of $13K with expenses exceeding revenue, holds 27.9 months of operating reserves (strong position), has a debt-to-asset ratio of 18.4% (very low leverage).
IRS Tax-Exempt Classification
| IRS Classification Codes | 3000 |
| IRS Ruling Date | 2019 |
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 Richford Economic Advancement 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: 100%
- programs: 0%
- fundraising: 0%
According to IRS 990 filings, Richford Economic Advancement Corporation allocates its expenses as follows: admin: 100%, programs: 0%, fundraising: 0%.
Key Financial Metrics (2018)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $13K, with expenses exceeding revenue.
- Debt-to-asset ratio: 18.4%.
Executive Compensation Analysis
Executive compensation cannot be assessed as no compensation figures are reported in the available filings.
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 Richford Economic Advancement Corporation's IRS 990 filings:
- Zero program service expenses reported for the 2018 fiscal year.
- Total expenses of $24,614 significantly exceed reported revenue of $0.
- Lack of detailed activity or program descriptions in available filings.
Strengths
The following positive indicators were identified for Richford Economic Advancement Corporation:
- Organization maintains a positive asset balance of $57,191.
Frequently Asked Questions about Richford Economic Advancement Corporation
Is Richford Economic Advancement Corporation a legitimate charity?
Based on AI analysis of IRS 990 filings, Richford Economic Advancement Corporation (EIN: 222514325) significant concerns. Mission Score: 20/100. 3 red flags identified, 1 strength noted.
How does Richford Economic Advancement Corporation spend its money?
Detailed spending breakdown data is not yet available for Richford Economic Advancement Corporation. Check back for updated IRS 990 analysis.
Are donations to Richford Economic Advancement Corporation tax-deductible?
Richford Economic Advancement Corporation is registered as a tax-exempt nonprofit (EIN: 222514325). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Richford Economic Advancement Corporation compare to similar nonprofits?
With a transparency score of 20/100 (Poor), Richford Economic Advancement Corporation is below average for NTEE category P20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Richford Economic Advancement Corporation located?
Richford Economic Advancement Corporation is headquartered in Richford, Vermont and files with the IRS under EIN 222514325. It is classified under NTEE code P20.
What does Richford Economic Advancement Corporation do?
Richford Economic Advancement Corporation is a nonprofit organization in the Human Services sector, located in Richford, Vermont. It is classified under NTEE code P20.
How much revenue does Richford Economic Advancement Corporation have?
Richford Economic Advancement Corporation reported total revenue of N/A. Based on 1 IRS 990 filing on record.
What are Richford Economic Advancement Corporation's total assets?
Richford Economic Advancement Corporation holds total assets of N/A as reported in IRS 990 filings.
Where is Richford Economic Advancement Corporation located?
Richford Economic Advancement Corporation is based in Richford, Vermont.
What is Richford Economic Advancement Corporation's EIN?
Richford Economic Advancement Corporation's Employer Identification Number (EIN) is 222514325. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Richford Economic Advancement Corporation?
Richford Economic Advancement Corporation is classified under NTEE code P20 (Human Services).
Is Richford Economic Advancement Corporation a registered 501(c)(3)?
Yes, Richford Economic Advancement Corporation is recognized as a tax-exempt organization by the IRS. EIN: 222514325.
Does Richford Economic Advancement Corporation file IRS Form 990?
Yes, Richford Economic Advancement Corporation has 1 IRS Form 990 filing on record. The most recent covers tax period 201809.
What was Richford Economic Advancement Corporation's revenue in 2018?
In the 201809 filing period, Richford Economic Advancement Corporation reported total revenue of $11,228, total expenses of $24,614, and net assets of $57,191.
What is Richford Economic Advancement Corporation's most recent 990 filing?
The most recent IRS Form 990 filing for Richford Economic Advancement Corporation covers tax period 201809. It shows revenue of $11,228, expenses of $24,614, total assets of $57,191, and liabilities of $10,500.
Is Richford Economic Advancement Corporation a trustworthy charity?
Based on AI analysis of IRS 990 data, Richford Economic Advancement Corporation has notable concerns. Mission Score: 20/100 (Poor). 3 red flags identified. 1 strength noted.
What are the red flags for Richford Economic Advancement Corporation?
The following concerns were identified: Zero program service expenses reported for the 2018 fiscal year.. Total expenses of $24,614 significantly exceed reported revenue of $0.. Lack of detailed activity or program descriptions in available filings.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Richford Economic Advancement Corporation's strengths?
Positive indicators for Richford Economic Advancement Corporation include: Organization maintains a positive asset balance of $57,191.. These findings are derived from AI analysis of the organization's financial filings.
How does Richford Economic Advancement Corporation compensate executives?
Executive compensation cannot be assessed as no compensation figures are reported in the available filings. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the reported $0 in revenue and $24,614 in expenses for 2018, how is the organization sustaining its operations and maintaining its asset base?
The organization likely drew from prior year assets or received unreported contributions to cover the $24,614 in expenses, as no revenue was reported for 2018, yet assets remain at $57,191.
Filing History
IRS 990 filing history for Richford Economic Advancement Corporation showing financial trends over 1 year of public records:
In its most recent filing year (2018), Richford Economic Advancement Corporation reported a deficit of $13K, with expenses exceeding revenue. The organization holds $11K in liabilities against $57K in assets (debt-to-asset ratio: 18.4%), resulting in net assets of $47K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2018 | $11K | $25K | $57K | $11K | — | View 990 |
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Richford Economic Advancement Corporation:
Data Sources and Methodology
This transparency report for Richford Economic Advancement 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.