Saco Main Street Inc
Saco Main Street Inc operates with volunteer leadership and modest assets, maintaining balanced finances with fluctuating revenues.
EIN: 142065342 · Saco, ME · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $255K |
| Total Expenses | $165K |
| Program Spending | 80% |
| Net Assets | $48K |
| Transparency Score | 85/100 |
Is Saco Main Street Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Saco Main Street Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Saco Main Street Inc
Saco Main Street Inc (EIN: 142065342) is a nonprofit organization based in Saco, ME. The organization reported total revenue of $255K and total assets of $30K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Saco Main Street Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Saco Main Street Inc is a small nonprofit that has been operating for 22 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 10.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $197K |
| Total Expenses | $165K |
| Surplus / Deficit | +$32K |
| Total Assets | $57K |
| Total Liabilities | $10K |
| Net Assets | $48K |
| Operating Margin | 16.4% |
| Debt-to-Asset Ratio | 17.0% |
| Months of Reserves | 4.2 months |
Financial Health Grade: A
In 2023, Saco Main Street Inc reported a surplus of $32K with revenue exceeding expenses, holds 4.2 months of operating reserves (adequate), has a debt-to-asset ratio of 17.0% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Saco Main Street Inc's revenue has grown at a compound annual growth rate (CAGR) of 10.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -38.0% | -55.1% | +6.8% |
| 2022 | -11.2% | +1.4% | -37.0% |
| 2021 | +14.2% | +18.5% | +3.0% |
| 2020 | +30.0% | +23.4% | -5.4% |
| 2019 | +7.7% | +42.9% | -7.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2004 |
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 Main Street 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: 80%
- fundraising: 10%
According to IRS 990 filings, Saco Main Street Inc allocates its expenses as follows: admin: 10%, programs: 80%, fundraising: 10%. With 80% 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 $32K, with revenue exceeding expenses.
- Debt-to-asset ratio: 17.0%.
Executive Compensation Analysis
Executive compensation is consistently reported at 0% across all available filings, indicating that the organization's leadership is either entirely volunteer-based or compensated below IRS reporting thresholds, which is highly favorable for a nonprofit 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 Main Street Inc's IRS 990 filings:
- Modest asset base relative to revenue, potentially limiting long-term resilience
- Fluctuating liabilities, such as the increase to $38,484 in 2022, warrant further scrutiny
Strengths
The following positive indicators were identified for Saco Main Street Inc:
- Consistent 0% officer compensation, indicating strong volunteer leadership and efficient use of funds
- Long history of IRS 990 filings, demonstrating transparency and compliance
- Expenses generally align with revenue, suggesting sound financial management
- Stable operational history over more than a decade
Frequently Asked Questions about Saco Main Street Inc
Is Saco Main Street Inc a legitimate charity?
Saco Main Street Inc (EIN: 142065342) is a registered tax-exempt nonprofit based in Maine. Our AI analysis gives it a Mission Score of 85/100. It has 13 years of IRS 990 filings on record. Total revenue: $255K. 2 red flags identified. 4 strengths noted. Financial health grade: A.
How does Saco Main Street Inc spend its money?
Saco Main Street Inc directs 80% of its spending to programs and services. Fundraising costs 10%. This exceeds the 65% industry benchmark.
Are donations to Saco Main Street Inc tax-deductible?
Saco Main Street Inc is registered as a tax-exempt nonprofit (EIN: 142065342). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Saco Main Street Inc's spending goes to programs?
Saco Main Street Inc directs 80% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Saco Main Street Inc located?
Saco Main Street Inc is headquartered in Saco, Maine and files with the IRS under EIN 142065342.
How many years of IRS 990 filings does Saco Main Street Inc have?
Saco Main Street 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 $255K in total revenue.
Is Saco Main Street Inc a good charity?
Based on the available data, Saco Main Street Inc appears to be a good charity. It consistently reports 0% officer compensation, indicating a strong commitment to directing funds towards its mission rather than executive salaries. Its revenues and expenses are generally balanced, and it has a long history of IRS filings, suggesting stability and transparency.
How does Saco Main Street Inc manage its assets?
Saco Main Street Inc maintains a relatively modest asset base compared to its annual revenue. For example, in 2023, assets were $57,308 against revenues of $197,003. This suggests a focus on immediate program delivery rather than accumulating significant reserves, which can be typical for community-focused organizations.
What is the trend in Saco Main Street Inc's revenue?
Saco Main Street Inc's revenue has shown fluctuations over the past decade, ranging from a low of $54,513 in 2015 to a high of $358,024 in 2021, and most recently $197,003 in 2023. This indicates a dynamic funding environment, but the organization has generally managed to keep expenses in line with income.
Filing History
IRS 990 filing history for Saco Main Street Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Saco Main Street Inc's revenue has grown by 231.2%, moving from $59K to $197K. Total assets increased by 44.9% over the same period, from $40K to $57K. Total functional expenses rose by 157.1%, from $64K to $165K. In its most recent filing year (2023), Saco Main Street Inc reported a surplus of $32K, with revenue exceeding expenses. The organization holds $10K in liabilities against $57K in assets (debt-to-asset ratio: 17.0%), resulting in net assets of $48K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $197K | $165K | $57K | $10K | — | View 990 |
| 2022 | $318K | $366K | $54K | $38K | — | View 990 |
| 2021 | $358K | $361K | $85K | $7K | — | View 990 |
| 2020 | $313K | $305K | $83K | $882 | — | View 990 |
| 2019 | $241K | $247K | $87K | $14K | — | View 990 |
| 2018 | $224K | $173K | $95K | $15K | — | View 990 |
| 2017 | $101K | $106K | $28K | $0 | — | View 990 |
| 2016 | $81K | $84K | $33K | $0 | — | View 990 |
| 2015 | $55K | $62K | $37K | $0 | — | View 990 |
| 2014 | $82K | $88K | $44K | $0 | — | View 990 |
| 2013 | $96K | $80K | $50K | $0 | — | View 990 |
| 2012 | $61K | $65K | $35K | $0 | — | View 990 |
| 2011 | $59K | $64K | $40K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $197K, expenses of $165K, and assets of $57K (revenue -38.0% year-over-year).
- 2022: Revenue of $318K, expenses of $366K, and assets of $54K (revenue -11.2% year-over-year).
- 2021: Revenue of $358K, expenses of $361K, and assets of $85K (revenue +14.2% year-over-year).
- 2020: Revenue of $313K, expenses of $305K, and assets of $83K (revenue +30.0% year-over-year).
- 2019: Revenue of $241K, expenses of $247K, and assets of $87K (revenue +7.7% year-over-year).
- 2018: Revenue of $224K, expenses of $173K, and assets of $95K (revenue +120.8% year-over-year).
- 2017: Revenue of $101K, expenses of $106K, and assets of $28K (revenue +25.8% year-over-year).
- 2016: Revenue of $81K, expenses of $84K, and assets of $33K (revenue +47.9% year-over-year).
- 2015: Revenue of $55K, expenses of $62K, and assets of $37K (revenue -33.6% year-over-year).
- 2014: Revenue of $82K, expenses of $88K, and assets of $44K (revenue -14.5% year-over-year).
- 2013: Revenue of $96K, expenses of $80K, and assets of $50K (revenue +58.3% year-over-year).
- 2012: Revenue of $61K, expenses of $65K, and assets of $35K (revenue +1.9% year-over-year).
- 2011: Revenue of $59K, expenses of $64K, and assets of $40K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Saco Main Street Inc:
Data Sources and Methodology
This transparency report for Saco Main Street 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.