Somes Pond Center
Somes Pond Center maintains strong assets but frequently operates at an annual deficit.
EIN: 10546382 · Hulls Cove, ME · NTEE: B70 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $39K |
| Total Expenses | $52K |
| Program Spending | 80% |
| Net Assets | $1.1M |
| Transparency Score | 85/100 |
Is Somes Pond Center Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Somes Pond Center directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Somes Pond Center
Somes Pond Center (EIN: 10546382) is a nonprofit organization based in Hulls Cove, ME, classified under NTEE code B70. The organization reported total revenue of $39K and total assets of $1.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Somes Pond Center's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Somes Pond Center is a micro nonprofit that has been operating for 24 years, with 9 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 3.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $22K |
| Total Expenses | $52K |
| Surplus / Deficit | $-29,889 |
| Total Assets | $1.1M |
| Total Liabilities | $1 |
| Net Assets | $1.1M |
| Operating Margin | -137.3% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 266.8 months |
Financial Health Grade: B
In 2023, Somes Pond Center reported a deficit of $30K with expenses exceeding revenue, holds 266.8 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 9 years of filings (2011–2023), Somes Pond Center's revenue has grown at a compound annual growth rate (CAGR) of 3.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -64.7% | +30.3% | +0.3% |
| 2022 | +26.8% | -12.0% | -4.7% |
| 2021 | +20.3% | +2.8% | +4.7% |
| 2020 | -51.3% | -5.4% | +1.3% |
| 2019 | +209.2% | +3.6% | -1.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2002 |
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 Somes Pond Center 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: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Somes Pond Center allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. 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 deficit of $30K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Somes Pond Center consistently reports 0% officer compensation, indicating that its leadership is either entirely volunteer-based or compensated through other means not classified as officer compensation, 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 Somes Pond Center's IRS 990 filings:
- Frequent annual operating deficits (e.g., 2023: $21,775 revenue vs. $51,664 expenses), indicating reliance on reserves or other funding sources.
- Inconsistent revenue generation, making long-term financial planning potentially challenging.
Strengths
The following positive indicators were identified for Somes Pond Center:
- Strong asset base consistently over $1.1 million, providing significant financial stability.
- Extremely low liabilities, often just $1, indicating minimal debt burden.
- 0% officer compensation reported across all filings, suggesting efficient use of funds for leadership or a volunteer-driven model.
- Consistent IRS 990 filing history, demonstrating good transparency and compliance.
Frequently Asked Questions about Somes Pond Center
Is Somes Pond Center a legitimate charity?
Based on AI analysis of IRS 990 filings, Somes Pond Center (EIN: 10546382) some concerns. Mission Score: 85/100. 2 red flags identified, 4 strengths noted.
How does Somes Pond Center spend its money?
Somes Pond Center directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Somes Pond Center tax-deductible?
Somes Pond Center is registered as a tax-exempt nonprofit (EIN: 10546382). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Somes Pond Center's spending goes to programs?
Somes Pond Center directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Somes Pond Center compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Somes Pond Center is above average for NTEE category B70 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Somes Pond Center located?
Somes Pond Center is headquartered in Hulls Cove, Maine and files with the IRS under EIN 10546382. It is classified under NTEE code B70.
How many years of IRS 990 filings does Somes Pond Center have?
Somes Pond Center has 9 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 $39K in total revenue.
Is Somes Pond Center a good charity?
Based on the available data, Somes Pond Center appears to be a well-managed charity in terms of asset preservation and low administrative overhead (0% officer compensation). While it frequently runs an annual deficit, its substantial asset base of over $1.1 million provides financial stability. Donors should be aware that their contributions might be used to cover operational gaps rather than solely funding new initiatives.
How does Somes Pond Center fund its operations given frequent deficits?
Somes Pond Center likely funds its operations, especially during deficit years (e.g., 2023 with $21,775 revenue vs. $51,664 expenses), by drawing from its significant asset base, which consistently exceeds $1.1 million. This suggests a reliance on investment income or prior accumulated surpluses rather than solely on annual contributions.
What is the trend in Somes Pond Center's revenue?
Somes Pond Center's revenue has fluctuated significantly over the years, ranging from a low of $13,854 in 2011 to a high of $83,188 in 2019. The latest reported revenue of $38,987 is lower than some previous years, indicating an inconsistent income stream.
Filing History
IRS 990 filing history for Somes Pond Center showing financial trends over 9 years of public records:
Over 9 years of IRS 990 filings (2011–2023), Somes Pond Center's revenue has grown by 57.2%, moving from $14K to $22K. Total assets increased by 0.5% over the same period, from $1.1M to $1.1M. Total functional expenses rose by 36.8%, from $38K to $52K. In its most recent filing year (2023), Somes Pond Center reported a deficit of $30K, with expenses exceeding revenue. The organization holds $1 in liabilities against $1.1M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $1.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $22K | $52K | $1.1M | $1 | — | — |
| 2022 | $62K | $40K | $1.1M | $1 | — | View 990 |
| 2021 | $49K | $45K | $1.2M | $1 | — | View 990 |
| 2020 | $40K | $44K | $1.1M | $1 | — | — |
| 2019 | $83K | $46K | $1.1M | $1 | — | — |
| 2014 | $27K | $45K | $1.2M | $0 | — | View 990 |
| 2013 | $29K | $50K | $1.2M | $0 | — | View 990 |
| 2012 | $20K | $38K | $1.1M | $1 | — | View 990 |
| 2011 | $14K | $38K | $1.1M | $865 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $22K, expenses of $52K, and assets of $1.1M (revenue -64.7% year-over-year).
- 2022: Revenue of $62K, expenses of $40K, and assets of $1.1M (revenue +26.8% year-over-year).
- 2021: Revenue of $49K, expenses of $45K, and assets of $1.2M (revenue +20.3% year-over-year).
- 2020: Revenue of $40K, expenses of $44K, and assets of $1.1M (revenue -51.3% year-over-year).
- 2019: Revenue of $83K, expenses of $46K, and assets of $1.1M (revenue +209.2% year-over-year).
- 2014: Revenue of $27K, expenses of $45K, and assets of $1.2M (revenue -6.5% year-over-year).
- 2013: Revenue of $29K, expenses of $50K, and assets of $1.2M (revenue +44.7% year-over-year).
- 2012: Revenue of $20K, expenses of $38K, and assets of $1.1M (revenue +43.5% year-over-year).
- 2011: Revenue of $14K, expenses of $38K, and assets of $1.1M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Somes Pond Center:
Data Sources and Methodology
This transparency report for Somes Pond Center 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.