River Arts Inc
River Arts Inc consistently operates with a surplus, growing assets to over $100,000 with no officer compensation.
EIN: 10435256 · Damariscotta, ME · NTEE: A610 · Updated: 2026-03-28
Is River Arts Inc Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
River Arts Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About River Arts Inc
River Arts Inc (EIN: 10435256) is a nonprofit organization based in Damariscotta, ME, classified under NTEE code A610. The organization reported total revenue of $110K and total assets of $112K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of River Arts Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates River Arts 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: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, River Arts Inc 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.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating a volunteer-led executive structure or that compensation falls below reporting thresholds, 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.
Strengths
The following positive indicators were identified for River Arts Inc:
- Consistent financial surpluses, leading to asset growth.
- Zero reported officer compensation, indicating high efficiency.
- Strong asset accumulation, from $324 in 2018 to $108,334 in 2023.
- Minimal to no liabilities in recent years.
- Consistent IRS 990 filing history, demonstrating transparency.
Frequently Asked Questions about River Arts Inc
Is River Arts Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, River Arts Inc (EIN: 10435256) appears legitimate. Mission Score: 92/100. 0 red flags identified, 5 strengths noted.
How does River Arts Inc spend its money?
River Arts Inc directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to River Arts Inc tax-deductible?
River Arts Inc is registered as a tax-exempt nonprofit (EIN: 10435256). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is River Arts Inc a good charity?
Based on its financial health, efficient operations (no reported officer compensation), and consistent growth in assets, River Arts Inc appears to be a well-managed and effective charity.
How has River Arts Inc's financial health changed over time?
River Arts Inc has shown significant improvement in financial health, moving from minimal assets and some liabilities in 2018 ($324 assets, $1,570 liabilities) to substantial assets ($108,334) and no liabilities in 2023, consistently generating surpluses.
What is the organization's approach to executive compensation?
The organization reports 0% officer compensation in all available filings, suggesting a volunteer-driven leadership or that any compensation is extremely minimal and not reportable, which is a strong indicator of efficiency.
Does River Arts Inc have a strong financial reserve?
Yes, with $108,334 in assets and $0 in liabilities as of 2023, the organization has built a strong financial reserve relative to its annual operating budget of approximately $80,000-$100,000.
Filing History
IRS 990 filing history for River Arts Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), River Arts Inc's revenue has grown by 26.6%, moving from $83K to $104K. Total assets increased by 310.9% over the same period, from $26K to $108K. Total functional expenses fell by 32.4%, from $120K to $81K. In its most recent filing year (2023), River Arts Inc reported a surplus of $24K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $104K | $81K | $108K | $0 | — | — |
| 2022 | $90K | $76K | $82K | $0 | — | View 990 |
| 2021 | $102K | $75K | $71K | $3K | — | View 990 |
| 2020 | $96K | $84K | $43K | $1K | — | View 990 |
| 2019 | $101K | $71K | $31K | $2K | — | — |
| 2018 | $87K | $88K | $324 | $2K | — | View 990 |
| 2017 | $82K | $80K | $3K | $694 | — | View 990 |
| 2016 | $93K | $88K | $4K | $4K | — | View 990 |
| 2015 | $104K | $104K | $3K | $8K | — | — |
| 2014 | $118K | $115K | $4K | $9K | — | View 990 |
| 2013 | $101K | $114K | $4K | $12K | — | View 990 |
| 2012 | $107K | $127K | $7K | $1K | — | View 990 |
| 2011 | $83K | $120K | $26K | $396 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $104K, expenses of $81K, and assets of $108K (revenue +16.2% year-over-year).
- 2022: Revenue of $90K, expenses of $76K, and assets of $82K (revenue -11.7% year-over-year).
- 2021: Revenue of $102K, expenses of $75K, and assets of $71K (revenue +5.7% year-over-year).
- 2020: Revenue of $96K, expenses of $84K, and assets of $43K (revenue -5.1% year-over-year).
- 2019: Revenue of $101K, expenses of $71K, and assets of $31K (revenue +17.1% year-over-year).
- 2018: Revenue of $87K, expenses of $88K, and assets of $324 (revenue +5.3% year-over-year).
- 2017: Revenue of $82K, expenses of $80K, and assets of $3K (revenue -11.4% year-over-year).
- 2016: Revenue of $93K, expenses of $88K, and assets of $4K (revenue -10.5% year-over-year).
- 2015: Revenue of $104K, expenses of $104K, and assets of $3K (revenue -12.1% year-over-year).
- 2014: Revenue of $118K, expenses of $115K, and assets of $4K (revenue +17.1% year-over-year).
- 2013: Revenue of $101K, expenses of $114K, and assets of $4K (revenue -6.0% year-over-year).
- 2012: Revenue of $107K, expenses of $127K, and assets of $7K (revenue +30.0% year-over-year).
- 2011: Revenue of $83K, expenses of $120K, and assets of $26K.
Data Sources and Methodology
This transparency report for River Arts 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.