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

$152KRevenue

$121KAssets

85/100Mission Score (Excellent)

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.

AI Transparency Report

Southern Aroostook Development Corporation demonstrates a generally stable financial position, though with some fluctuations in recent years. In 2023, the organization reported expenses exceeding revenue ($152,785 vs. $106,527), leading to a deficit for the year. This contrasts with 2022, where revenue significantly outpaced expenses ($172,773 vs. $95,303). The organization's assets have shown growth over the past few years, increasing from $22,024 in 2020 to $116,430 in 2023, indicating a build-up of financial reserves. Liabilities have also seen an increase in 2023 to $38,503, which is higher than previous years. The consistent reporting of 0% officer compensation across all available filings suggests a commitment to minimizing administrative overhead in this area, which is a positive indicator for spending efficiency. However, without a detailed breakdown of program, administrative, and fundraising expenses, a precise assessment of spending efficiency is challenging. The organization's consistent filing of IRS Form 990s over many years indicates good transparency regarding its financial operations.

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.

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

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.	PDF
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.

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.