Sea Otter Foundation
Sea Otter Foundation shows strong financial growth and zero officer compensation in latest filing.
EIN: 10539524 · Yarmouth, ME · NTEE: T22 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $4K |
| Total Expenses | $17K |
| Program Spending | 85% |
| Net Assets | $78K |
| Transparency Score | 85/100 |
Is Sea Otter Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Sea Otter Foundation directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Sea Otter Foundation
Sea Otter Foundation (EIN: 10539524) is a nonprofit organization based in Yarmouth, ME, classified under NTEE code T22. The organization reported total revenue of $4K and total assets of $70K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Sea Otter Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Sea Otter Foundation is a micro nonprofit that has been operating for 25 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 42.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $53K |
| Total Expenses | $17K |
| Surplus / Deficit | +$36K |
| Total Assets | $78K |
| Total Liabilities | $1 |
| Net Assets | $78K |
| Operating Margin | 68.2% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 56.2 months |
Financial Health Grade: A
In 2023, Sea Otter Foundation reported a surplus of $36K with revenue exceeding expenses, holds 56.2 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), Sea Otter Foundation's revenue has grown at a compound annual growth rate (CAGR) of 42.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +384.0% | +57.7% | +84.5% |
| 2022 | -19.6% | -37.6% | +0.6% |
| 2021 | -67.4% | +9.4% | -7.7% |
| 2020 | -7.5% | -66.6% | +129.8% |
| 2019 | +4177.3% | +1882.0% | -5.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2001 |
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 Sea Otter Foundation 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: 85%
- fundraising: 5%
According to IRS 990 filings, Sea Otter Foundation 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 (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $36K, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all filings, indicating that the organization's leadership is either entirely volunteer-based or compensated through non-salary means, which is highly efficient for an 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 Sea Otter Foundation's IRS 990 filings:
- Fluctuating revenue in earlier years (e.g., $1,046 in 2015 vs. $44,741 in 2019) could indicate inconsistent funding streams.
- Expenses exceeded revenue in some past periods (e.g., 2021: $17,020 expenses vs. $13,507 revenue; 2019: $46,597 expenses vs. $44,741 revenue), though this has improved significantly in the latest filing.
Strengths
The following positive indicators were identified for Sea Otter Foundation:
- Strong financial growth in the latest period (2023 revenue $52,587, assets $78,304).
- Consistent 0% officer compensation, indicating high efficiency in leadership costs.
- Low liabilities across all reported periods, suggesting sound financial management and minimal debt.
- Consistent filing of IRS Form 990s demonstrates transparency.
- Significant surplus in the most recent fiscal year (2023 expenses $16,733 vs. revenue $52,587).
Frequently Asked Questions about Sea Otter Foundation
Is Sea Otter Foundation a legitimate charity?
Sea Otter Foundation (EIN: 10539524) is a registered tax-exempt nonprofit based in Maine. Our AI analysis gives it a Mission Score of 85/100. It has 10 years of IRS 990 filings on record. Total revenue: $4K. 2 red flags identified. 5 strengths noted. Financial health grade: A.
How does Sea Otter Foundation spend its money?
Sea Otter Foundation directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Sea Otter Foundation tax-deductible?
Sea Otter Foundation is registered as a tax-exempt nonprofit (EIN: 10539524). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Sea Otter Foundation's spending goes to programs?
Sea Otter Foundation directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Sea Otter Foundation compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Sea Otter Foundation is above average for NTEE category T22 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Sea Otter Foundation located?
Sea Otter Foundation is headquartered in Yarmouth, Maine and files with the IRS under EIN 10539524. It is classified under NTEE code T22.
How many years of IRS 990 filings does Sea Otter Foundation have?
Sea Otter 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 $4K in total revenue.
Is Sea Otter Foundation a good charity?
Based on the available data, the Sea Otter Foundation appears to be a well-managed charity with strong financial health, particularly in its most recent filing (2023 revenue $52,587, expenses $16,733). Its consistent 0% officer compensation and low liabilities are positive indicators.
How has the organization's financial health changed over time?
The organization has shown significant growth and improved financial health, especially from 2022 to 2023, with revenue increasing from $10,864 to $52,587 and assets growing from $42,450 to $78,304. Earlier periods showed more fluctuating revenue and occasional expense overruns.
What is the organization's approach to executive compensation?
The Sea Otter Foundation consistently reports 0% officer compensation, suggesting a volunteer-driven leadership model or that compensation is not reported as officer salary, which is a highly efficient use of funds.
Filing History
IRS 990 filing history for Sea Otter Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Sea Otter Foundation's revenue has grown by 7035.3%, moving from $737 to $53K. Total assets increased by 199.5% over the same period, from $26K to $78K. Total functional expenses rose by 338.3%, from $4K to $17K. In its most recent filing year (2023), Sea Otter Foundation reported a surplus of $36K, with revenue exceeding expenses. The organization holds $1 in liabilities against $78K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $78K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $53K | $17K | $78K | $1 | — | View 990 |
| 2022 | $11K | $11K | $42K | $1 | — | View 990 |
| 2021 | $14K | $17K | $42K | $1 | — | View 990 |
| 2020 | $41K | $16K | $46K | $1 | — | — |
| 2019 | $45K | $47K | $20K | $1 | — | View 990 |
| 2015 | $1K | $2K | $21K | $1 | — | View 990 |
| 2014 | $1K | $2K | $22K | $0 | — | View 990 |
| 2013 | $972 | $2K | $38K | $15K | — | View 990 |
| 2012 | $513 | $2K | $39K | $15K | — | View 990 |
| 2011 | $737 | $4K | $26K | $1 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $53K, expenses of $17K, and assets of $78K (revenue +384.0% year-over-year).
- 2022: Revenue of $11K, expenses of $11K, and assets of $42K (revenue -19.6% year-over-year).
- 2021: Revenue of $14K, expenses of $17K, and assets of $42K (revenue -67.4% year-over-year).
- 2020: Revenue of $41K, expenses of $16K, and assets of $46K (revenue -7.5% year-over-year).
- 2019: Revenue of $45K, expenses of $47K, and assets of $20K (revenue +4177.3% year-over-year).
- 2015: Revenue of $1K, expenses of $2K, and assets of $21K (revenue -11.6% year-over-year).
- 2014: Revenue of $1K, expenses of $2K, and assets of $22K (revenue +21.7% year-over-year).
- 2013: Revenue of $972, expenses of $2K, and assets of $38K (revenue +89.5% year-over-year).
- 2012: Revenue of $513, expenses of $2K, and assets of $39K (revenue -30.4% year-over-year).
- 2011: Revenue of $737, expenses of $4K, and assets of $26K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Sea Otter Foundation:
Data Sources and Methodology
This transparency report for Sea Otter 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.