Virginia Hodgkins Somers Foundation Inc
Virginia Hodgkins Somers Foundation experiences significant asset decline and consistent operating deficits.
EIN: 10537127 · Kennebunk, ME · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.5M |
| Total Expenses | $1.5M |
| Program Spending | 70% |
| Net Assets | $1.9M |
| Transparency Score | 45/100 |
Is Virginia Hodgkins Somers Foundation Inc Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Virginia Hodgkins Somers Foundation Inc directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Virginia Hodgkins Somers Foundation Inc
Virginia Hodgkins Somers Foundation Inc (EIN: 10537127) is a nonprofit organization based in Kennebunk, ME. The organization reported total revenue of $1.5M and total assets of $1.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Virginia Hodgkins Somers Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Virginia Hodgkins Somers Foundation Inc is a mid-size nonprofit that has been operating for 34 years, with 9 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 8.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $544K |
| Total Expenses | $1.5M |
| Surplus / Deficit | $-908,035 |
| Total Assets | $1.9M |
| Total Liabilities | $1 |
| Net Assets | $1.9M |
| Operating Margin | -167.0% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 15.4 months |
Financial Health Grade: B
In 2023, Virginia Hodgkins Somers Foundation Inc reported a deficit of $908K with expenses exceeding revenue, holds 15.4 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 9 years of filings (2011–2023), Virginia Hodgkins Somers Foundation Inc's revenue has grown at a compound annual growth rate (CAGR) of 8.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +626.4% | +39.6% | -33.0% |
| 2022 | -94.2% | +14.6% | -25.9% |
| 2021 | +366.6% | -9.1% | +10.8% |
| 2020 | +9.1% | +130.2% | -17.8% |
| 2015 | +105.7% | -3.1% | -4.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1992 |
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 Virginia Hodgkins Somers Foundation Inc with a Mission Score of 45 out of 100 (Fair). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 20%
- programs: 70%
- fundraising: 10%
According to IRS 990 filings, Virginia Hodgkins Somers Foundation Inc allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $908K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that executive leadership is either unpaid or compensated through other means not categorized as officer compensation, which is a positive for minimizing overhead.
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 Virginia Hodgkins Somers Foundation Inc's IRS 990 filings:
- Consistent operating deficits, with expenses frequently exceeding revenue (e.g., 202309 expenses $1,451,905 vs. revenue $543,870).
- Significant decline in total assets over time, from $4,632,314 in 201109 to $1,867,440 in 202309.
- Lack of detailed NTEE code and specific program information, limiting understanding of mission focus.
- Unusual consistent reporting of $1 in liabilities for multiple years.
- High volatility in annual revenue, making financial planning and stability challenging (e.g., $74,874 in 202209 vs. $1,283,035 in 202109).
Strengths
The following positive indicators were identified for Virginia Hodgkins Somers Foundation Inc:
- Consistent reporting of 0% officer compensation, indicating low executive overhead.
- Long history of IRS 990 filings (9 filings), suggesting compliance with reporting requirements.
- Maintains a substantial asset base, despite declines, providing some financial cushion ($1,867,440 in 202309).
Frequently Asked Questions about Virginia Hodgkins Somers Foundation Inc
Is Virginia Hodgkins Somers Foundation Inc a legitimate charity?
Virginia Hodgkins Somers Foundation Inc (EIN: 10537127) is a registered tax-exempt nonprofit based in Maine. Our AI analysis gives it a Mission Score of 45/100. It has 9 years of IRS 990 filings on record. Total revenue: $1.5M. 5 red flags identified. 3 strengths noted. Financial health grade: B.
How does Virginia Hodgkins Somers Foundation Inc spend its money?
Virginia Hodgkins Somers Foundation Inc directs 70% of its spending to programs and services. Fundraising costs 10%. This meets the 65% industry benchmark.
Are donations to Virginia Hodgkins Somers Foundation Inc tax-deductible?
Virginia Hodgkins Somers Foundation Inc is registered as a tax-exempt nonprofit (EIN: 10537127). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Virginia Hodgkins Somers Foundation Inc's spending goes to programs?
Virginia Hodgkins Somers Foundation Inc directs 70% to programs, 10% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
Where is Virginia Hodgkins Somers Foundation Inc located?
Virginia Hodgkins Somers Foundation Inc is headquartered in Kennebunk, Maine and files with the IRS under EIN 10537127.
How many years of IRS 990 filings does Virginia Hodgkins Somers Foundation Inc have?
Virginia Hodgkins Somers Foundation 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 $1.5M in total revenue.
What are the specific program activities funded by the Virginia Hodgkins Somers Foundation?
The provided data does not specify the NTEE code or detailed program activities, making it unclear what specific causes or initiatives the foundation supports.
Why have the organization's assets decreased so significantly over the past decade?
Assets have declined from $4,632,314 in 201109 to $1,867,440 in 202309, largely due to expenses consistently exceeding revenue in most reported periods, indicating the foundation is drawing down its principal to cover operations.
What is the nature of the consistent $1 liability reported in recent years?
The consistent reporting of $1 in liabilities for several years (e.g., 202309, 202209, 202109, 202009) is unusual and may suggest a specific accounting practice or a placeholder, warranting further clarification.
Is the current spending level sustainable given the revenue trends?
No, the current spending levels appear unsustainable as expenses have frequently outpaced revenue, leading to a significant depletion of assets. For example, in 202309, expenses were $1,451,905 against revenue of $543,870.
How does the foundation generate its revenue?
The provided data only shows total revenue figures, such as $1,496,517 for the latest period, but does not detail the sources (e.g., donations, investments, grants).
Filing History
IRS 990 filing history for Virginia Hodgkins Somers Foundation Inc showing financial trends over 9 years of public records:
Over 9 years of IRS 990 filings (2011–2023), Virginia Hodgkins Somers Foundation Inc's revenue has grown by 161.5%, moving from $208K to $544K. Total assets decreased by 59.7% over the same period, from $4.6M to $1.9M. Total functional expenses rose by 300.4%, from $363K to $1.5M. In its most recent filing year (2023), Virginia Hodgkins Somers Foundation Inc reported a deficit of $908K, with expenses exceeding revenue. The organization holds $1 in liabilities against $1.9M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $1.9M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $544K | $1.5M | $1.9M | $1 | — | View 990 |
| 2022 | $75K | $1.0M | $2.8M | $1 | — | View 990 |
| 2021 | $1.3M | $907K | $3.8M | $1 | — | View 990 |
| 2020 | $275K | $998K | $3.4M | $1 | — | — |
| 2015 | $252K | $434K | $4.1M | $0 | — | View 990 |
| 2014 | $122K | $448K | $4.3M | $0 | — | View 990 |
| 2013 | $398K | $289K | $4.6M | $0 | — | View 990 |
| 2012 | $252K | $373K | $4.5M | $0 | — | View 990 |
| 2011 | $208K | $363K | $4.6M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $544K, expenses of $1.5M, and assets of $1.9M (revenue +626.4% year-over-year).
- 2022: Revenue of $75K, expenses of $1.0M, and assets of $2.8M (revenue -94.2% year-over-year).
- 2021: Revenue of $1.3M, expenses of $907K, and assets of $3.8M (revenue +366.6% year-over-year).
- 2020: Revenue of $275K, expenses of $998K, and assets of $3.4M (revenue +9.1% year-over-year).
- 2015: Revenue of $252K, expenses of $434K, and assets of $4.1M (revenue +105.7% year-over-year).
- 2014: Revenue of $122K, expenses of $448K, and assets of $4.3M (revenue -69.2% year-over-year).
- 2013: Revenue of $398K, expenses of $289K, and assets of $4.6M (revenue +57.9% year-over-year).
- 2012: Revenue of $252K, expenses of $373K, and assets of $4.5M (revenue +21.2% year-over-year).
- 2011: Revenue of $208K, expenses of $363K, and assets of $4.6M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Virginia Hodgkins Somers Foundation Inc:
Data Sources and Methodology
This transparency report for Virginia Hodgkins Somers Foundation 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.