Southern Aroostook Development Corporation
Southern Aroostook Development Corporation experienced a deficit in 2023, following a strong surplus in 2022, with no reported officer compensation.
EIN: 10243319 · Houlton, ME · Updated: 2026-03-28
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| Metric | Value |
|---|---|
| Total Revenue | $152K |
| Total Expenses | $153K |
| Program Spending | 80% |
| CEO/Top Officer Pay | $152,080. |
| Net Assets | $78K |
| Transparency Score | 85/100 |
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Southern Aroostook Development Corporation Form 990, Revenue, CEO Pay, and IRS Filing Signals
Southern Aroostook Development Corporation is surfaced here as a decision-ready nonprofit financial profile, not just a charity listing. The page consolidates IRS Form 990 revenue, expenses, assets, tax-exempt classification, executive compensation, mission score, red flags, and year-by-year filing history so donors, researchers, journalists, and grant teams can answer the common search questions around Southern Aroostook Development Corporation in one place.
Form 990 Filing Summary
13 filing years are available, with latest revenue of $107K and expenses of $153K.
Revenue and Expenses
Southern Aroostook Development Corporation reported $107K in revenue and $153K in expenses, a deficit of $46K.
Executive Compensation
Top officer compensation appears as $152,080. in the stored analysis, with context against revenue and expenses below.
Charity Score and Red Flags
85/100 mission score, 2 red flags, and 4 strengths are shown from structured and AI review.
Is Southern Aroostook Development Corporation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
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Where the Money Comes From and Where It Goes
Revenue Source Mix
Revenue-source line items are not available on the stored filing yet. Future ingestion now preserves contribution, program-revenue, and investment-income fields when ProPublica provides them.
Expense Deployment
| Program services | $122K (80%) |
Across stored filings, Southern Aroostook Development Corporation shows contribution history pending. Next enrichment targets: revenue-source fields, IRS BMF classification.
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| Decision Lens | Signal | What to Inspect Next |
|---|---|---|
| Legitimacy | Some Concerns | Good filing record; 2 red flags identified |
| Mission spend | 80% to programs | Excellent |
| Financial durability | Grade B | 13 stored filing years |
| Peer context | Compare with Maine Composite Materials Applied Technology Development Center | Maine and category context |
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Southern Aroostook Development Corporation directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Southern Aroostook Development Corporation
Southern Aroostook Development Corporation (EIN: 10243319) is a nonprofit organization based in Houlton, ME. The organization reported total revenue of $152K and total assets of $121K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Southern Aroostook Development Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Southern Aroostook Development Corporation is a small nonprofit that has been operating for 67 years, with 13 years of IRS 990 filings on record (2010–2023). Revenue has grown at a compound annual rate of 2.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $107K |
| Total Expenses | $153K |
| Surplus / Deficit | $-46,258 |
| Total Assets | $116K |
| Total Liabilities | $39K |
| Net Assets | $78K |
| Operating Margin | -43.4% |
| Debt-to-Asset Ratio | 33.1% |
| Months of Reserves | 9.1 months |
Financial Health Grade: B
In 2023, Southern Aroostook Development Corporation reported a deficit of $46K with expenses exceeding revenue, holds 9.1 months of operating reserves (strong position), has a debt-to-asset ratio of 33.1% (moderate leverage).
Financial Trends
Over 13 years of filings (2010–2023), Southern Aroostook Development Corporation's revenue has grown at a compound annual growth rate (CAGR) of 2.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -38.3% | +60.3% | -8.3% |
| 2022 | +37.8% | +13.9% | +84.1% |
| 2021 | +78.8% | +0.4% | +213.3% |
| 2020 | -18.8% | -1.6% | -26.9% |
| 2019 | +4.7% | +0.4% | +31.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 1959 |
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 Southern Aroostook Development Corporation 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, Southern Aroostook Development Corporation 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 $46K, with expenses exceeding revenue.
- Debt-to-asset ratio: 33.1%.
Executive Compensation Analysis
Executive compensation is consistently reported at 0% across all available filings, indicating that no officers receive salaries from the organization, which is highly favorable for a nonprofit of its size with latest revenue of $152,080.
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 Southern Aroostook Development Corporation's IRS 990 filings:
- Operating deficit in 2023 ($152,785 expenses vs. $106,527 revenue)
- Significant increase in liabilities in 2023 to $38,503 from $2,842 in 2022
Strengths
The following positive indicators were identified for Southern Aroostook Development Corporation:
- Consistent 0% officer compensation across all reported years, indicating low administrative overhead in this area.
- Long history of IRS 990 filings (13 filings), demonstrating transparency.
- Growth in assets from $22,024 in 2020 to $116,430 in 2023, indicating financial growth and stability over time.
- Strong revenue performance in 2022 ($172,773) which led to a significant surplus.
Frequently Asked Questions about Southern Aroostook Development Corporation
Is Southern Aroostook Development Corporation a legitimate charity?
Southern Aroostook Development Corporation (EIN: 10243319) 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: $152K. 2 red flags identified. 4 strengths noted. Financial health grade: B.
How does Southern Aroostook Development Corporation spend its money?
Southern Aroostook Development Corporation directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Southern Aroostook Development Corporation tax-deductible?
Southern Aroostook Development Corporation is registered as a tax-exempt nonprofit (EIN: 10243319). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Southern Aroostook Development Corporation CEO make?
Southern Aroostook Development Corporation's highest-compensated officer earns $152,080. annually. The organization reported $152K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Southern Aroostook Development Corporation's spending goes to programs?
Southern Aroostook Development Corporation directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Southern Aroostook Development Corporation located?
Southern Aroostook Development Corporation is headquartered in Houlton, Maine and files with the IRS under EIN 10243319.
How many years of IRS 990 filings does Southern Aroostook Development Corporation have?
Southern Aroostook Development Corporation 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 $152K in total revenue.
What caused the significant increase in liabilities to $38,503 in 2023?
The filings show a notable jump in liabilities from $2,842 in 2022 to $38,503 in 2023, which warrants further investigation to understand the nature of these obligations.
What specific programs does Southern Aroostook Development Corporation operate?
The provided data does not detail specific programs, making it difficult to assess the direct impact of their spending. Further information from their website or detailed financial statements would be needed.
How does the organization plan to address the 2023 operating deficit?
In 2023, expenses ($152,785) exceeded revenue ($106,527). Understanding the strategy to return to a surplus or manage future deficits would be important for long-term financial health.
Filing History
IRS 990 filing history for Southern Aroostook Development Corporation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2010–2023), Southern Aroostook Development Corporation's revenue has grown by 30.4%, moving from $82K to $107K. Total assets increased by 14.8% over the same period, from $101K to $116K. Total functional expenses rose by 78.3%, from $86K to $153K. In its most recent filing year (2023), Southern Aroostook Development Corporation reported a deficit of $46K, with expenses exceeding revenue. The organization holds $39K in liabilities against $116K in assets (debt-to-asset ratio: 33.1%), resulting in net assets of $78K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $107K | $153K | $116K | $39K | — | — |
| 2022 | $173K | $95K | $127K | $3K | — | View 990 |
| 2021 | $125K | $84K | $69K | $22K | — | View 990 |
| 2020 | $70K | $83K | $22K | $17K | — | View 990 |
| 2019 | $86K | $85K | $30K | $12K | — | View 990 |
| 2018 | $82K | $84K | $23K | $6K | — | View 990 |
| 2017 | $65K | $82K | $21K | $2K | — | View 990 |
| 2016 | $93K | $80K | $42K | $8K | — | View 990 |
| 2015 | $86K | $84K | $41K | $19K | — | View 990 |
| 2014 | $73K | $90K | $24K | $4K | — | View 990 |
| 2013 | $63K | $86K | $41K | $4K | — | View 990 |
| 2012 | $82K | $96K | $63K | $3K | — | View 990 |
| 2010 | $82K | $86K | $101K | $42K | — | — |
Year-by-Year Financial Summary
- 2023: Revenue of $107K, expenses of $153K, and assets of $116K (revenue -38.3% year-over-year).
- 2022: Revenue of $173K, expenses of $95K, and assets of $127K (revenue +37.8% year-over-year).
- 2021: Revenue of $125K, expenses of $84K, and assets of $69K (revenue +78.8% year-over-year).
- 2020: Revenue of $70K, expenses of $83K, and assets of $22K (revenue -18.8% year-over-year).
- 2019: Revenue of $86K, expenses of $85K, and assets of $30K (revenue +4.7% year-over-year).
- 2018: Revenue of $82K, expenses of $84K, and assets of $23K (revenue +26.0% year-over-year).
- 2017: Revenue of $65K, expenses of $82K, and assets of $21K (revenue -29.7% year-over-year).
- 2016: Revenue of $93K, expenses of $80K, and assets of $42K (revenue +8.9% year-over-year).
- 2015: Revenue of $86K, expenses of $84K, and assets of $41K (revenue +17.5% year-over-year).
- 2014: Revenue of $73K, expenses of $90K, and assets of $24K (revenue +14.9% year-over-year).
- 2013: Revenue of $63K, expenses of $86K, and assets of $41K (revenue -22.9% year-over-year).
- 2012: Revenue of $82K, expenses of $96K, and assets of $63K (revenue +0.7% year-over-year).
- 2010: Revenue of $82K, expenses of $86K, and assets of $101K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Southern Aroostook Development Corporation:
Data Sources and Methodology
This transparency report for Southern Aroostook Development Corporation 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.