Richmond Eldercare Coalition
Richmond Eldercare Coalition faces recent operating deficits, drawing down assets despite consistent revenue.
EIN: 10494481 · Richmond, ME · NTEE: P75 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $742K |
| Total Expenses | $789K |
| Program Spending | 85% |
| Net Assets | $402K |
| Transparency Score | 80/100 |
Is Richmond Eldercare Coalition Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Richmond Eldercare Coalition directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Richmond Eldercare Coalition
Richmond Eldercare Coalition (EIN: 10494481) is a nonprofit organization based in Richmond, ME, classified under NTEE code P75. The organization reported total revenue of $742K and total assets of $573K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Richmond Eldercare Coalition's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Richmond Eldercare Coalition is a small nonprofit that has been operating for 31 years, with 13 years of IRS 990 filings on record (2012–2024). Revenue has grown at a compound annual rate of 2.3%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $742K |
| Total Expenses | $789K |
| Surplus / Deficit | $-47,451 |
| Total Assets | $573K |
| Total Liabilities | $171K |
| Net Assets | $402K |
| Operating Margin | -6.4% |
| Debt-to-Asset Ratio | 29.8% |
| Months of Reserves | 8.7 months |
Financial Health Grade: B
In 2024, Richmond Eldercare Coalition reported a deficit of $47K with expenses exceeding revenue, holds 8.7 months of operating reserves (strong position), has a debt-to-asset ratio of 29.8% (moderate leverage).
Financial Trends
Over 13 years of filings (2012–2024), Richmond Eldercare Coalition's revenue has grown at a compound annual growth rate (CAGR) of 2.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | +2.7% | +4.8% | -18.6% |
| 2023 | -7.0% | +9.6% | -6.3% |
| 2022 | +35.9% | +4.9% | +10.2% |
| 2021 | -19.5% | +1.3% | -15.6% |
| 2020 | +11.7% | +6.2% | -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 Richmond Eldercare Coalition with a Mission Score of 80 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: 85%
- fundraising: 5%
According to IRS 990 filings, Richmond Eldercare Coalition allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% 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 deficit of $47K, with expenses exceeding revenue.
- Debt-to-asset ratio: 29.8%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers receive salaries from the organization. This suggests a highly volunteer-driven leadership or that compensation is covered by other means, which is a strong positive for directing funds to the 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.
Red Flags
The following concerns were identified during AI analysis of Richmond Eldercare Coalition's IRS 990 filings:
- Expenses consistently exceeding revenue in recent years (e.g., $789,400 expenses vs. $741,949 revenue in 2024).
- Declining asset base over the past several years, from $839,045 in 2018 to $572,689 in 2024.
Strengths
The following positive indicators were identified for Richmond Eldercare Coalition:
- Consistent 0% officer compensation, indicating strong commitment to program spending.
- Long history of IRS 990 filings (13 filings), suggesting transparency and established operations.
- Assets ($572,689) still significantly exceed liabilities ($170,729) in the latest period, providing a financial buffer.
Frequently Asked Questions about Richmond Eldercare Coalition
Is Richmond Eldercare Coalition a legitimate charity?
Based on AI analysis of IRS 990 filings, Richmond Eldercare Coalition (EIN: 10494481) some concerns. Mission Score: 80/100. 2 red flags identified, 3 strengths noted.
How does Richmond Eldercare Coalition spend its money?
Richmond Eldercare Coalition directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Richmond Eldercare Coalition tax-deductible?
Richmond Eldercare Coalition is registered as a tax-exempt nonprofit (EIN: 10494481). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Richmond Eldercare Coalition's spending goes to programs?
Richmond Eldercare Coalition directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Richmond Eldercare Coalition compare to similar nonprofits?
With a transparency score of 80/100 (Excellent), Richmond Eldercare Coalition is above average for NTEE category P75 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Richmond Eldercare Coalition located?
Richmond Eldercare Coalition is headquartered in Richmond, Maine and files with the IRS under EIN 10494481. It is classified under NTEE code P75.
How many years of IRS 990 filings does Richmond Eldercare Coalition have?
Richmond Eldercare Coalition 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 $742K in total revenue.
Is Richmond Eldercare Coalition financially sustainable given recent operating deficits?
The organization has experienced expenses exceeding revenue in 3 of the last 4 years, leading to a decline in assets from $839,045 in 2018 to $572,689 in 2024. While current assets still comfortably cover liabilities, this trend needs to be reversed for long-term financial sustainability.
How does the 0% officer compensation impact the organization?
The consistent 0% officer compensation is a significant strength, indicating that funds are not being diverted to executive salaries. This suggests a strong volunteer leadership component or alternative funding for leadership, allowing more resources to be allocated directly to programs.
What is the trend in the organization's asset base?
The asset base has shown a declining trend, from a peak of $839,045 in 2018 to $572,689 in 2024. This decline correlates with periods where expenses have exceeded revenue.
Filing History
IRS 990 filing history for Richmond Eldercare Coalition showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2012–2024), Richmond Eldercare Coalition's revenue has grown by 31.6%, moving from $564K to $742K. Total assets decreased by 38.1% over the same period, from $924K to $573K. Total functional expenses rose by 50.8%, from $523K to $789K. In its most recent filing year (2024), Richmond Eldercare Coalition reported a deficit of $47K, with expenses exceeding revenue. The organization holds $171K in liabilities against $573K in assets (debt-to-asset ratio: 29.8%), resulting in net assets of $402K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $742K | $789K | $573K | $171K | — | View 990 |
| 2023 | $723K | $754K | $703K | $253K | — | View 990 |
| 2022 | $777K | $688K | $751K | $270K | — | View 990 |
| 2021 | $571K | $655K | $681K | $290K | — | View 990 |
| 2020 | $710K | $647K | $807K | $332K | — | View 990 |
| 2019 | $635K | $609K | $815K | $402K | — | View 990 |
| 2018 | $552K | $575K | $839K | $453K | — | View 990 |
| 2017 | $580K | $571K | $776K | $367K | — | View 990 |
| 2016 | $590K | $563K | $793K | $393K | — | View 990 |
| 2015 | $508K | $555K | $735K | $362K | — | View 990 |
| 2014 | $539K | $555K | $856K | $436K | — | View 990 |
| 2013 | $563K | $527K | $945K | $509K | — | View 990 |
| 2012 | $564K | $523K | $924K | $525K | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $742K, expenses of $789K, and assets of $573K (revenue +2.7% year-over-year).
- 2023: Revenue of $723K, expenses of $754K, and assets of $703K (revenue -7.0% year-over-year).
- 2022: Revenue of $777K, expenses of $688K, and assets of $751K (revenue +35.9% year-over-year).
- 2021: Revenue of $571K, expenses of $655K, and assets of $681K (revenue -19.5% year-over-year).
- 2020: Revenue of $710K, expenses of $647K, and assets of $807K (revenue +11.7% year-over-year).
- 2019: Revenue of $635K, expenses of $609K, and assets of $815K (revenue +15.0% year-over-year).
- 2018: Revenue of $552K, expenses of $575K, and assets of $839K (revenue -4.7% year-over-year).
- 2017: Revenue of $580K, expenses of $571K, and assets of $776K (revenue -1.7% year-over-year).
- 2016: Revenue of $590K, expenses of $563K, and assets of $793K (revenue +16.1% year-over-year).
- 2015: Revenue of $508K, expenses of $555K, and assets of $735K (revenue -5.7% year-over-year).
- 2014: Revenue of $539K, expenses of $555K, and assets of $856K (revenue -4.3% year-over-year).
- 2013: Revenue of $563K, expenses of $527K, and assets of $945K (revenue -0.1% year-over-year).
- 2012: Revenue of $564K, expenses of $523K, and assets of $924K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Richmond Eldercare Coalition:
Data Sources and Methodology
This transparency report for Richmond Eldercare Coalition 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.