Souls Harbor Inc Main Rd
Souls Harbor Inc Main Rd consistently operates with expenses often exceeding revenue, while maintaining no executive compensation.
EIN: 10358152 · Corinth, ME · NTEE: A32Z · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $141K |
| Total Expenses | $154K |
| Program Spending | 85% |
| Net Assets | $171K |
| Transparency Score | 85/100 |
Is Souls Harbor Inc Main Rd Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Souls Harbor Inc Main Rd directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Souls Harbor Inc Main Rd
Souls Harbor Inc Main Rd (EIN: 10358152) is a nonprofit organization based in Corinth, ME, classified under NTEE code A32Z. The organization reported total revenue of $141K and total assets of $210K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Souls Harbor Inc Main Rd's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Souls Harbor Inc Main Rd is a small nonprofit that has been operating for 48 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -6.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $130K |
| Total Expenses | $154K |
| Surplus / Deficit | $-23,909 |
| Total Assets | $229K |
| Total Liabilities | $58K |
| Net Assets | $171K |
| Operating Margin | -18.4% |
| Debt-to-Asset Ratio | 25.5% |
| Months of Reserves | 17.9 months |
Financial Health Grade: B
In 2023, Souls Harbor Inc Main Rd reported a deficit of $24K with expenses exceeding revenue, holds 17.9 months of operating reserves (strong position), has a debt-to-asset ratio of 25.5% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), Souls Harbor Inc Main Rd's revenue has declined at a compound annual growth rate (CAGR) of -6.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -12.9% | +1.8% | -13.0% |
| 2022 | -10.4% | +0.2% | -5.3% |
| 2021 | +8.2% | +0.6% | +1.8% |
| 2020 | +9.1% | -4.3% | -1.8% |
| 2019 | -16.9% | -4.2% | -8.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1978 |
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 Souls Harbor Inc Main Rd 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, Souls Harbor Inc Main Rd 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 deficit of $24K, with expenses exceeding revenue.
- Debt-to-asset ratio: 25.5%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that no salaries are paid to officers, which is highly commendable for an organization of this 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 Souls Harbor Inc Main Rd's IRS 990 filings:
- Consistent trend of expenses exceeding revenue in multiple periods (e.g., 2023, 2022, 2019, 2017, 2016, 2015, 2014)
- Gradual decline in total assets over the past decade without clear explanation in provided data
Strengths
The following positive indicators were identified for Souls Harbor Inc Main Rd:
- Consistent 0% officer compensation, indicating strong commitment to mission over executive pay
- Long history of IRS 990 filings (13 periods), demonstrating transparency and compliance
- Reduction in liabilities over the past decade, suggesting responsible debt management
Frequently Asked Questions about Souls Harbor Inc Main Rd
Is Souls Harbor Inc Main Rd a legitimate charity?
Based on AI analysis of IRS 990 filings, Souls Harbor Inc Main Rd (EIN: 10358152) some concerns. Mission Score: 85/100. 2 red flags identified, 3 strengths noted.
How does Souls Harbor Inc Main Rd spend its money?
Souls Harbor Inc Main Rd directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Souls Harbor Inc Main Rd tax-deductible?
Souls Harbor Inc Main Rd is registered as a tax-exempt nonprofit (EIN: 10358152). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Souls Harbor Inc Main Rd's spending goes to programs?
Souls Harbor Inc Main Rd directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Souls Harbor Inc Main Rd compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Souls Harbor Inc Main Rd is above average for NTEE category A32Z nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Souls Harbor Inc Main Rd located?
Souls Harbor Inc Main Rd is headquartered in Corinth, Maine and files with the IRS under EIN 10358152. It is classified under NTEE code A32Z.
How many years of IRS 990 filings does Souls Harbor Inc Main Rd have?
Souls Harbor Inc Main Rd 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 $141K in total revenue.
Is Souls Harbor Inc Main Rd financially sustainable given its trend of expenses exceeding revenue?
While expenses have frequently exceeded revenue (e.g., $153,848 expenses vs. $129,939 revenue in 2023), the organization has managed to reduce its liabilities over time, suggesting it is drawing from reserves or other non-revenue sources to cover shortfalls without accumulating debt. Long-term sustainability would benefit from aligning expenses more closely with revenue.
What is the reason for the consistent decline in assets over the past decade?
Assets have decreased from $375,101 in 2014 to $228,918 in 2023. This could be due to using reserves to cover operational deficits, depreciation of assets, or strategic divestment. Further detail from the full 990 forms would be needed to understand the specific causes.
How does the lack of officer compensation impact the organization's operations?
The 0% officer compensation indicates that leadership is likely volunteer-based or compensated through other means not classified as officer compensation. This significantly reduces administrative overhead and allows more funds to be directed towards programs, enhancing efficiency and donor trust.
Filing History
IRS 990 filing history for Souls Harbor Inc Main Rd showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Souls Harbor Inc Main Rd's revenue has declined by 56.1%, moving from $296K to $130K. Total assets decreased by 51.1% over the same period, from $468K to $229K. Total functional expenses fell by 50.7%, from $312K to $154K. In its most recent filing year (2023), Souls Harbor Inc Main Rd reported a deficit of $24K, with expenses exceeding revenue. The organization holds $58K in liabilities against $229K in assets (debt-to-asset ratio: 25.5%), resulting in net assets of $171K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $130K | $154K | $229K | $58K | — | View 990 |
| 2022 | $149K | $151K | $263K | $69K | — | View 990 |
| 2021 | $167K | $151K | $278K | $81K | — | View 990 |
| 2020 | $154K | $150K | $273K | $92K | — | View 990 |
| 2019 | $141K | $157K | $278K | $101K | — | View 990 |
| 2018 | $170K | $163K | $302K | $110K | — | View 990 |
| 2017 | $159K | $167K | $303K | $117K | — | View 990 |
| 2016 | $169K | $180K | $318K | $124K | — | View 990 |
| 2015 | $174K | $197K | $342K | $137K | — | View 990 |
| 2014 | $225K | $246K | $375K | $148K | — | View 990 |
| 2013 | $225K | $300K | $414K | $165K | — | View 990 |
| 2012 | $347K | $312K | $497K | $173K | — | View 990 |
| 2011 | $296K | $312K | $468K | $179K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $130K, expenses of $154K, and assets of $229K (revenue -12.9% year-over-year).
- 2022: Revenue of $149K, expenses of $151K, and assets of $263K (revenue -10.4% year-over-year).
- 2021: Revenue of $167K, expenses of $151K, and assets of $278K (revenue +8.2% year-over-year).
- 2020: Revenue of $154K, expenses of $150K, and assets of $273K (revenue +9.1% year-over-year).
- 2019: Revenue of $141K, expenses of $157K, and assets of $278K (revenue -16.9% year-over-year).
- 2018: Revenue of $170K, expenses of $163K, and assets of $302K (revenue +6.6% year-over-year).
- 2017: Revenue of $159K, expenses of $167K, and assets of $303K (revenue -5.7% year-over-year).
- 2016: Revenue of $169K, expenses of $180K, and assets of $318K (revenue -3.0% year-over-year).
- 2015: Revenue of $174K, expenses of $197K, and assets of $342K (revenue -22.8% year-over-year).
- 2014: Revenue of $225K, expenses of $246K, and assets of $375K (revenue +0.3% year-over-year).
- 2013: Revenue of $225K, expenses of $300K, and assets of $414K (revenue -35.2% year-over-year).
- 2012: Revenue of $347K, expenses of $312K, and assets of $497K (revenue +17.3% year-over-year).
- 2011: Revenue of $296K, expenses of $312K, and assets of $468K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Souls Harbor Inc Main Rd:
Data Sources and Methodology
This transparency report for Souls Harbor Inc Main Rd 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.