Spednic Club Inc
Spednic Club Inc. shows recent revenue growth but maintains high liabilities relative to minimal assets.
EIN: 10243451 · Baileyville, ME · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $194K |
| Total Expenses | $96K |
| Program Spending | 80% |
| Net Assets | $-31,053 |
| Transparency Score | 65/100 |
Is Spednic Club Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Spednic Club Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Spednic Club Inc
Spednic Club Inc (EIN: 10243451) is a nonprofit organization based in Baileyville, ME. The organization reported total revenue of $194K and total assets of $9K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Spednic Club Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Spednic Club Inc is a small nonprofit that has been operating for 71 years, with 9 years of IRS 990 filings on record (2011–2019). Revenue has grown at a compound annual rate of -5.4%.
Key Financial Metrics (2019)
From the most recent IRS 990 filing on record:
| Total Revenue | $91K |
| Total Expenses | $96K |
| Surplus / Deficit | $-5,052 |
| Total Assets | $9K |
| Total Liabilities | $40K |
| Net Assets | $-31,053 |
| Operating Margin | -5.5% |
| Debt-to-Asset Ratio | 464.9% |
| Months of Reserves | 1.1 months |
Financial Health Grade: D
In 2019, Spednic Club Inc reported a deficit of $5K with expenses exceeding revenue, holds 1.1 months of operating reserves (limited), has a debt-to-asset ratio of 464.9% (high leverage).
Financial Trends
Over 9 years of filings (2011–2019), Spednic Club Inc's revenue has declined at a compound annual growth rate (CAGR) of -5.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2019 | +0.5% | +9.6% | +47.1% |
| 2018 | +30.1% | +28.7% | -20.2% |
| 2017 | -31.4% | -35.3% | -60.0% |
| 2016 | -2.4% | -6.8% | -22.5% |
| 2015 | -21.2% | -11.2% | +14.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1955 |
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 Spednic Club Inc with a Mission Score of 65 out of 100 (Good). 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, Spednic Club Inc 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 (2019)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $5K, with expenses exceeding revenue.
- Debt-to-asset ratio: 464.9%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all filings, indicating that the organization's leadership is volunteer-based and does not draw salaries, which is common for smaller nonprofits.
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 Spednic Club Inc's IRS 990 filings:
- Liabilities consistently far exceed assets (e.g., $39,564 liabilities vs. $8,511 assets in 201904).
- History of operational deficits in multiple years (e.g., 201904, 201604, 201504, 201304, 201204, 201104).
- Very low asset base ($8,511) relative to revenue and historical liabilities, indicating limited financial reserves.
Strengths
The following positive indicators were identified for Spednic Club Inc:
- Consistent reporting of 0% officer compensation, indicating volunteer leadership.
- Significant recent revenue growth to $193,659, suggesting increased support or activity.
- Long history of IRS 990 filings (9 filings), indicating a commitment to transparency over time.
Frequently Asked Questions about Spednic Club Inc
Is Spednic Club Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Spednic Club Inc (EIN: 10243451) some concerns. Mission Score: 65/100. 3 red flags identified, 3 strengths noted.
How does Spednic Club Inc spend its money?
Spednic Club Inc directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Spednic Club Inc tax-deductible?
Spednic Club Inc is registered as a tax-exempt nonprofit (EIN: 10243451). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Spednic Club Inc's spending goes to programs?
Spednic Club Inc directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Spednic Club Inc located?
Spednic Club Inc is headquartered in Baileyville, Maine and files with the IRS under EIN 10243451.
How many years of IRS 990 filings does Spednic Club Inc have?
Spednic Club Inc 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 $194K in total revenue.
Is Spednic Club Inc. financially stable?
While recent revenue has increased to $193,659, the organization's assets are very low at $8,511, and it has historically carried significant liabilities (e.g., $39,564 in 201904). This suggests a precarious financial position with limited reserves.
How does Spednic Club Inc. manage its liabilities?
The organization has consistently reported liabilities significantly exceeding its assets across multiple years (e.g., $39,564 liabilities vs. $8,511 assets in 201904). The nature of these liabilities and the strategy for managing them are not detailed in the provided data, but they represent a significant financial risk.
What is the trend in Spednic Club Inc.'s revenue and expenses?
Revenue has fluctuated, with a notable increase to $193,659 in the latest period from $91,159 in 201904. Expenses have generally tracked revenue, often slightly exceeding it in earlier years, leading to operational deficits. The latest period's expenses are not provided, making a full assessment of the most recent operational balance difficult.
Filing History
IRS 990 filing history for Spednic Club Inc showing financial trends over 9 years of public records:
Over 9 years of IRS 990 filings (2011–2019), Spednic Club Inc's revenue has declined by 35.6%, moving from $142K to $91K. Total assets decreased by 47.2% over the same period, from $16K to $9K. Total functional expenses fell by 45.4%, from $176K to $96K. In its most recent filing year (2019), Spednic Club Inc reported a deficit of $5K, with expenses exceeding revenue. The organization holds $40K in liabilities against $9K in assets (debt-to-asset ratio: 464.9%), resulting in net assets of $-31,053.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2019 | $91K | $96K | $9K | $40K | — | View 990 |
| 2018 | $91K | $88K | $6K | $47K | — | View 990 |
| 2017 | $70K | $68K | $7K | $51K | — | View 990 |
| 2016 | $102K | $105K | $18K | $63K | — | View 990 |
| 2015 | $104K | $113K | $23K | $65K | — | View 990 |
| 2014 | $132K | $127K | $20K | $51K | — | View 990 |
| 2013 | $133K | $138K | $19K | $54K | — | View 990 |
| 2012 | $161K | $164K | $17K | $47K | — | View 990 |
| 2011 | $142K | $176K | $16K | $44K | — | View 990 |
Year-by-Year Financial Summary
- 2019: Revenue of $91K, expenses of $96K, and assets of $9K (revenue +0.5% year-over-year).
- 2018: Revenue of $91K, expenses of $88K, and assets of $6K (revenue +30.1% year-over-year).
- 2017: Revenue of $70K, expenses of $68K, and assets of $7K (revenue -31.4% year-over-year).
- 2016: Revenue of $102K, expenses of $105K, and assets of $18K (revenue -2.4% year-over-year).
- 2015: Revenue of $104K, expenses of $113K, and assets of $23K (revenue -21.2% year-over-year).
- 2014: Revenue of $132K, expenses of $127K, and assets of $20K (revenue -0.7% year-over-year).
- 2013: Revenue of $133K, expenses of $138K, and assets of $19K (revenue -17.5% year-over-year).
- 2012: Revenue of $161K, expenses of $164K, and assets of $17K (revenue +13.8% year-over-year).
- 2011: Revenue of $142K, expenses of $176K, and assets of $16K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Spednic Club Inc:
Data Sources and Methodology
This transparency report for Spednic Club Inc 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.