Saco & Biddeford Savings Charitable Foundation
Saco & Biddeford Savings Charitable Foundation maintains strong assets and no executive compensation despite fluctuating revenues.
EIN: 10516587 · Saco, ME · NTEE: T20Z · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $36K |
| Total Expenses | $454K |
| Program Spending | 95% |
| Net Assets | $1.0M |
| Transparency Score | 90/100 |
Is Saco & Biddeford Savings Charitable Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Saco & Biddeford Savings Charitable Foundation directs 95% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Saco & Biddeford Savings Charitable Foundation
Saco & Biddeford Savings Charitable Foundation (EIN: 10516587) is a nonprofit organization based in Saco, ME, classified under NTEE code T20Z. The organization reported total revenue of $36K and total assets of $686K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Saco & Biddeford Savings Charitable Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Saco & Biddeford Savings Charitable Foundation is a micro nonprofit that has been operating for 28 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 18.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $283K |
| Total Expenses | $454K |
| Surplus / Deficit | $-170,568 |
| Total Assets | $1.0M |
| Total Liabilities | $1 |
| Net Assets | $1.0M |
| Operating Margin | -60.2% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 26.7 months |
Financial Health Grade: B
In 2023, Saco & Biddeford Savings Charitable Foundation reported a deficit of $171K with expenses exceeding revenue, holds 26.7 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), Saco & Biddeford Savings Charitable Foundation's revenue has grown at a compound annual growth rate (CAGR) of 18.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -57.4% | -8.6% | -14.5% |
| 2022 | +12.5% | +10.8% | +16.6% |
| 2021 | +24.7% | -0.3% | +16.4% |
| 2020 | -12.0% | +2.3% | +2.9% |
| 2019 | +45.7% | +108.2% | +161.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1998 |
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 Saco & Biddeford Savings Charitable Foundation with a Mission Score of 90 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: 5%
- programs: 95%
- fundraising: 0%
According to IRS 990 filings, Saco & Biddeford Savings Charitable Foundation allocates its expenses as follows: admin: 5%, programs: 95%, fundraising: 0%. With 95% 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 deficit of $171K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation has consistently been reported as 0% across all available filings, indicating that no officers or key employees receive salaries from the foundation, which is highly efficient for a charitable organization of its 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 Saco & Biddeford Savings Charitable Foundation's IRS 990 filings:
- Significant year-over-year revenue fluctuation (e.g., $664,209 in 2022 to $283,203 in 2023)
Strengths
The following positive indicators were identified for Saco & Biddeford Savings Charitable Foundation:
- Consistent 0% officer compensation across all reported periods
- Substantial asset growth over the past decade (from $228,950 in 2011 to $1,008,963 in 2023)
- Minimal liabilities ($1 consistently reported), indicating strong financial stability
- Consistent IRS 990 filing history demonstrating transparency
Frequently Asked Questions about Saco & Biddeford Savings Charitable Foundation
Is Saco & Biddeford Savings Charitable Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Saco & Biddeford Savings Charitable Foundation (EIN: 10516587) some concerns. Mission Score: 90/100. 1 red flag identified, 4 strengths noted.
How does Saco & Biddeford Savings Charitable Foundation spend its money?
Saco & Biddeford Savings Charitable Foundation directs 95% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Saco & Biddeford Savings Charitable Foundation tax-deductible?
Saco & Biddeford Savings Charitable Foundation is registered as a tax-exempt nonprofit (EIN: 10516587). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Saco & Biddeford Savings Charitable Foundation compare to similar nonprofits?
With a transparency score of 90/100 (Excellent), Saco & Biddeford Savings Charitable Foundation is above average for NTEE category T20Z nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Saco & Biddeford Savings Charitable Foundation located?
Saco & Biddeford Savings Charitable Foundation is headquartered in Saco, Maine and files with the IRS under EIN 10516587. It is classified under NTEE code T20Z.
How many years of IRS 990 filings does Saco & Biddeford Savings Charitable Foundation have?
Saco & Biddeford Savings Charitable Foundation 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 $36K in total revenue.
Is Saco & Biddeford Savings Charitable Foundation a good charity?
Yes, based on the provided data, it appears to be a good charity. It has substantial assets ($1,008,963 in 2023), minimal liabilities ($1), and consistently reports 0% officer compensation, meaning funds are directed towards its mission rather than administrative salaries.
How has the foundation's financial health changed over time?
The foundation's assets have grown significantly from $228,950 in 2011 to over $1 million in 2023, indicating improved financial health. While revenue has fluctuated, its asset growth and minimal liabilities demonstrate long-term stability.
What is the primary use of the foundation's funds?
As a charitable foundation with an NTEE code of T20Z (Foundations, Grantmaking & Giving), the primary use of its funds is likely grant-making to other non-profit organizations, which falls under program spending.
Filing History
IRS 990 filing history for Saco & Biddeford Savings Charitable Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Saco & Biddeford Savings Charitable Foundation's revenue has grown by 693.6%, moving from $36K to $283K. Total assets increased by 340.7% over the same period, from $229K to $1.0M. Total functional expenses rose by 371.6%, from $96K to $454K. In its most recent filing year (2023), Saco & Biddeford Savings Charitable Foundation reported a deficit of $171K, with expenses exceeding revenue. The organization holds $1 in liabilities against $1.0M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $1.0M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $283K | $454K | $1.0M | $1 | — | View 990 |
| 2022 | $664K | $497K | $1.2M | $1 | — | View 990 |
| 2021 | $591K | $448K | $1.0M | $1 | — | — |
| 2020 | $474K | $450K | $869K | $1 | — | View 990 |
| 2019 | $539K | $440K | $845K | $1 | — | View 990 |
| 2015 | $370K | $211K | $323K | $1 | — | View 990 |
| 2014 | $209K | $178K | $172K | $1 | — | View 990 |
| 2013 | $126K | $151K | $142K | $1 | — | View 990 |
| 2012 | $42K | $103K | $167K | $1 | — | View 990 |
| 2011 | $36K | $96K | $229K | $1 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $283K, expenses of $454K, and assets of $1.0M (revenue -57.4% year-over-year).
- 2022: Revenue of $664K, expenses of $497K, and assets of $1.2M (revenue +12.5% year-over-year).
- 2021: Revenue of $591K, expenses of $448K, and assets of $1.0M (revenue +24.7% year-over-year).
- 2020: Revenue of $474K, expenses of $450K, and assets of $869K (revenue -12.0% year-over-year).
- 2019: Revenue of $539K, expenses of $440K, and assets of $845K (revenue +45.7% year-over-year).
- 2015: Revenue of $370K, expenses of $211K, and assets of $323K (revenue +77.1% year-over-year).
- 2014: Revenue of $209K, expenses of $178K, and assets of $172K (revenue +66.1% year-over-year).
- 2013: Revenue of $126K, expenses of $151K, and assets of $142K (revenue +202.3% year-over-year).
- 2012: Revenue of $42K, expenses of $103K, and assets of $167K (revenue +16.5% year-over-year).
- 2011: Revenue of $36K, expenses of $96K, and assets of $229K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Saco & Biddeford Savings Charitable Foundation:
Data Sources and Methodology
This transparency report for Saco & Biddeford Savings Charitable Foundation 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.