Sorrento Village Improvement Association
Sorrento Village Improvement Association maintains strong assets and no debt, despite a 2023 operating deficit.
EIN: 10162690 · Sorrento, ME · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $285K |
| Total Expenses | $430K |
| Program Spending | 90% |
| Net Assets | $774K |
| Transparency Score | 85/100 |
Is Sorrento Village Improvement Association Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Sorrento Village Improvement Association directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Sorrento Village Improvement Association
Sorrento Village Improvement Association (EIN: 10162690) is a nonprofit organization based in Sorrento, ME. The organization reported total revenue of $285K and total assets of $788K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Sorrento Village Improvement Association's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Sorrento Village Improvement Association is a small nonprofit that has been operating for 76 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 6.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $340K |
| Total Expenses | $430K |
| Surplus / Deficit | $-90,148 |
| Total Assets | $774K |
| Net Assets | $774K |
| Operating Margin | -26.5% |
| Months of Reserves | 21.6 months |
Financial Health Grade: B
In 2023, Sorrento Village Improvement Association reported a deficit of $90K with expenses exceeding revenue, holds 21.6 months of operating reserves (strong position).
Financial Trends
Over 13 years of filings (2011–2023), Sorrento Village Improvement Association's revenue has grown at a compound annual growth rate (CAGR) of 6.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +6.8% | +91.7% | -10.4% |
| 2022 | +31.9% | +8.5% | +12.2% |
| 2021 | +15.3% | +34.1% | +4.7% |
| 2020 | -14.7% | -36.3% | +8.5% |
| 2019 | +23.2% | +13.2% | +0.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1950 |
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 Sorrento Village Improvement Association 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: 5%
- programs: 90%
- fundraising: 5%
According to IRS 990 filings, Sorrento Village Improvement Association allocates its expenses as follows: admin: 5%, programs: 90%, fundraising: 5%. With 90% 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 $90K, with expenses exceeding revenue.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that the organization's leadership is entirely volunteer-based, which significantly reduces administrative costs and maximizes funds available for programs.
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 Sorrento Village Improvement Association's IRS 990 filings:
- Expenses exceeded revenue in 2023 by approximately $90,000, indicating an operating deficit for that period.
Strengths
The following positive indicators were identified for Sorrento Village Improvement Association:
- Consistent reporting of 0% officer compensation, indicating volunteer leadership and efficient use of funds.
- No reported liabilities across all 13 filings, demonstrating strong financial health and no reliance on debt.
- Consistent growth in assets over the past decade, from $541,245 in 2014 to $773,537 in 2023.
- Regular and extensive IRS 990 filing history (13 filings), indicating strong transparency.
Frequently Asked Questions about Sorrento Village Improvement Association
Is Sorrento Village Improvement Association a legitimate charity?
Sorrento Village Improvement Association (EIN: 10162690) 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: $285K. 1 red flag identified. 4 strengths noted. Financial health grade: B.
How does Sorrento Village Improvement Association spend its money?
Sorrento Village Improvement Association directs 90% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Sorrento Village Improvement Association tax-deductible?
Sorrento Village Improvement Association is registered as a tax-exempt nonprofit (EIN: 10162690). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Sorrento Village Improvement Association's spending goes to programs?
Sorrento Village Improvement Association directs 90% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Sorrento Village Improvement Association located?
Sorrento Village Improvement Association is headquartered in Sorrento, Maine and files with the IRS under EIN 10162690.
How many years of IRS 990 filings does Sorrento Village Improvement Association have?
Sorrento Village Improvement Association 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 $285K in total revenue.
Is Sorrento Village Improvement Association a good charity?
Based on the available data, the Sorrento Village Improvement Association appears to be a good charity. It has strong assets ($773,537 in 2023), no liabilities, and reports 0% officer compensation, suggesting a high dedication of resources to its mission and efficient operations.
How does the organization manage its finances given the 2023 deficit?
While the organization experienced a deficit of approximately $90,000 in 2023 (Expenses $430,220 vs. Revenue $340,072), its substantial assets ($773,537) and lack of liabilities indicate it has reserves to cover such fluctuations. This suggests a strategic use of accumulated funds or a temporary increase in project spending.
What is the trend in the organization's assets?
The organization's assets have shown a consistent upward trend over the past decade, growing from $541,245 in 2014 to $773,537 in 2023, indicating financial stability and growth in its resource base.
Filing History
IRS 990 filing history for Sorrento Village Improvement Association showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Sorrento Village Improvement Association's revenue has grown by 106.6%, moving from $165K to $340K. Total assets increased by 38.4% over the same period, from $559K to $774K. Total functional expenses rose by 180.4%, from $153K to $430K. In its most recent filing year (2023), Sorrento Village Improvement Association reported a deficit of $90K, with expenses exceeding revenue.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $340K | $430K | $774K | $0 | — | View 990 |
| 2022 | $318K | $224K | $864K | $0 | — | View 990 |
| 2021 | $241K | $207K | $770K | $0 | — | — |
| 2020 | $209K | $154K | $735K | $0 | — | — |
| 2019 | $245K | $242K | $678K | $0 | — | View 990 |
| 2018 | $199K | $214K | $675K | $0 | — | View 990 |
| 2017 | $267K | $181K | $671K | $0 | — | View 990 |
| 2016 | $306K | $231K | $585K | $0 | — | View 990 |
| 2015 | $164K | $195K | $511K | $0 | — | View 990 |
| 2014 | $164K | $175K | $541K | $0 | — | View 990 |
| 2013 | $170K | $163K | $552K | $0 | — | View 990 |
| 2012 | $152K | $156K | $546K | $0 | — | View 990 |
| 2011 | $165K | $153K | $559K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $340K, expenses of $430K, and assets of $774K (revenue +6.8% year-over-year).
- 2022: Revenue of $318K, expenses of $224K, and assets of $864K (revenue +31.9% year-over-year).
- 2021: Revenue of $241K, expenses of $207K, and assets of $770K (revenue +15.3% year-over-year).
- 2020: Revenue of $209K, expenses of $154K, and assets of $735K (revenue -14.7% year-over-year).
- 2019: Revenue of $245K, expenses of $242K, and assets of $678K (revenue +23.2% year-over-year).
- 2018: Revenue of $199K, expenses of $214K, and assets of $675K (revenue -25.5% year-over-year).
- 2017: Revenue of $267K, expenses of $181K, and assets of $671K (revenue -12.5% year-over-year).
- 2016: Revenue of $306K, expenses of $231K, and assets of $585K (revenue +85.9% year-over-year).
- 2015: Revenue of $164K, expenses of $195K, and assets of $511K (revenue +0.4% year-over-year).
- 2014: Revenue of $164K, expenses of $175K, and assets of $541K (revenue -3.6% year-over-year).
- 2013: Revenue of $170K, expenses of $163K, and assets of $552K (revenue +11.8% year-over-year).
- 2012: Revenue of $152K, expenses of $156K, and assets of $546K (revenue -7.7% year-over-year).
- 2011: Revenue of $165K, expenses of $153K, and assets of $559K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Sorrento Village Improvement Association:
Data Sources and Methodology
This transparency report for Sorrento Village Improvement Association 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.