Sanford Springvale Chamber Of Commerce Inc
Sanford Springvale Chamber of Commerce experiences recent deficit, drawing down assets.
EIN: 10226245 · Springvale, ME · Updated: 2026-03-28
Is Sanford Springvale Chamber Of Commerce Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Sanford Springvale Chamber Of Commerce Inc directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Sanford Springvale Chamber Of Commerce Inc
Sanford Springvale Chamber Of Commerce Inc (EIN: 10226245) is a nonprofit organization based in Springvale, ME. The organization reported total revenue of $89K and total assets of $63K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Sanford Springvale Chamber Of Commerce 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 Sanford Springvale Chamber Of Commerce Inc with a Mission Score of 70 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 20%
- programs: 70%
- fundraising: 10%
According to IRS 990 filings, Sanford Springvale Chamber Of Commerce Inc allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that no officers receive compensation, which is highly favorable for an organization of this size and suggests a volunteer-led or very lean administrative structure.
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 Sanford Springvale Chamber Of Commerce Inc's IRS 990 filings:
- Significant operating deficit in the latest fiscal period (202406), with expenses of $108,291 exceeding revenue of $85,789.
- Decrease in assets from $127,025 in 2023 to $88,739 in 2024, indicating a draw on reserves.
- Lack of detailed expense breakdown in the provided data makes it difficult to assess program efficiency.
Strengths
The following positive indicators were identified for Sanford Springvale Chamber Of Commerce Inc:
- Consistent reporting of 0% officer compensation across all filings, indicating strong financial transparency and a focus on minimizing administrative overhead.
- Maintained a stable revenue stream, generally above $100,000, for most of the past decade.
- Modest asset base provides some financial cushion, despite the recent decline.
Frequently Asked Questions about Sanford Springvale Chamber Of Commerce Inc
Is Sanford Springvale Chamber Of Commerce Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Sanford Springvale Chamber Of Commerce Inc (EIN: 10226245) some concerns. Mission Score: 70/100. 3 red flags identified, 3 strengths noted.
How does Sanford Springvale Chamber Of Commerce Inc spend its money?
Sanford Springvale Chamber Of Commerce Inc directs 70% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Sanford Springvale Chamber Of Commerce Inc tax-deductible?
Sanford Springvale Chamber Of Commerce Inc is registered as a tax-exempt nonprofit (EIN: 10226245). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What caused the significant deficit in the 2024 fiscal period?
The data shows that in Period 202406, expenses ($108,291) significantly exceeded revenue ($85,789), resulting in a net loss and a decrease in assets. The specific reasons for this deficit are not detailed in the provided summary.
How does the organization plan to address the recent increase in liabilities?
In Period 202406, liabilities increased to $358 from $16,142 in 2023. While the absolute amount is small, the sudden appearance after a period of lower liabilities warrants investigation into its nature and the organization's strategy for managing it.
What are the primary program activities funded by the Chamber?
The provided IRS 990 data does not detail the specific program activities. Further investigation into the full 990 form would be needed to understand how the Chamber allocates its program spending.
Filing History
IRS 990 filing history for Sanford Springvale Chamber Of Commerce Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2012–2024), Sanford Springvale Chamber Of Commerce Inc's revenue has declined by 38.6%, moving from $140K to $86K. Total assets increased by 11.9% over the same period, from $79K to $89K. Total functional expenses fell by 17.1%, from $131K to $108K. In its most recent filing year (2024), Sanford Springvale Chamber Of Commerce Inc reported a deficit of $23K, with expenses exceeding revenue. The organization holds $358 in liabilities against $89K in assets (debt-to-asset ratio: 0.4%), resulting in net assets of $88K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2024 | $86K | $108K | $89K | $358 | — | — |
| 2023 | $115K | $111K | $127K | $16K | — | View 990 |
| 2022 | $103K | $99K | $124K | $16K | — | View 990 |
| 2021 | $108K | $100K | $103K | $0 | — | — |
| 2020 | $122K | $107K | $80K | $0 | — | — |
| 2019 | $121K | $108K | $79K | $15K | — | View 990 |
| 2018 | $109K | $113K | $76K | $23K | — | — |
| 2017 | $105K | $122K | $76K | $20K | — | View 990 |
| 2016 | $134K | $127K | $88K | $15K | — | View 990 |
| 2015 | $112K | $125K | $77K | $11K | — | View 990 |
| 2014 | $136K | $116K | $88K | $9K | — | View 990 |
| 2013 | $110K | $122K | $91K | $32K | — | View 990 |
| 2012 | $140K | $131K | $79K | $7K | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $86K, expenses of $108K, and assets of $89K (revenue -25.1% year-over-year).
- 2023: Revenue of $115K, expenses of $111K, and assets of $127K (revenue +11.1% year-over-year).
- 2022: Revenue of $103K, expenses of $99K, and assets of $124K (revenue -4.7% year-over-year).
- 2021: Revenue of $108K, expenses of $100K, and assets of $103K (revenue -11.0% year-over-year).
- 2020: Revenue of $122K, expenses of $107K, and assets of $80K (revenue +0.8% year-over-year).
- 2019: Revenue of $121K, expenses of $108K, and assets of $79K (revenue +10.4% year-over-year).
- 2018: Revenue of $109K, expenses of $113K, and assets of $76K (revenue +3.9% year-over-year).
- 2017: Revenue of $105K, expenses of $122K, and assets of $76K (revenue -21.5% year-over-year).
- 2016: Revenue of $134K, expenses of $127K, and assets of $88K (revenue +20.0% year-over-year).
- 2015: Revenue of $112K, expenses of $125K, and assets of $77K (revenue -17.8% year-over-year).
- 2014: Revenue of $136K, expenses of $116K, and assets of $88K (revenue +23.5% year-over-year).
- 2013: Revenue of $110K, expenses of $122K, and assets of $91K (revenue -21.3% year-over-year).
- 2012: Revenue of $140K, expenses of $131K, and assets of $79K.
Data Sources and Methodology
This transparency report for Sanford Springvale Chamber Of Commerce 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.