Visit Freeport
Visit Freeport operates with consistent revenue and expenses, showing occasional deficits and no reported officer compensation.
EIN: 10428597 · Freeport, ME · NTEE: S41 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $439K |
| Total Expenses | $453K |
| Program Spending | 80% |
| Net Assets | $18K |
| Transparency Score | 75/100 |
Is Visit Freeport Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Visit Freeport directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Visit Freeport
Visit Freeport (EIN: 10428597) is a nonprofit organization based in Freeport, ME, classified under NTEE code S41. The organization reported total revenue of $439K and total assets of $209K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Visit Freeport's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Visit Freeport is a small nonprofit that has been operating for 12 years, with 10 years of IRS 990 filings on record (2014–2023). Revenue has grown at a compound annual rate of 2.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $439K |
| Total Expenses | $453K |
| Surplus / Deficit | $-14,734 |
| Total Assets | $209K |
| Total Liabilities | $191K |
| Net Assets | $18K |
| Operating Margin | -3.4% |
| Debt-to-Asset Ratio | 91.2% |
| Months of Reserves | 5.5 months |
Financial Health Grade: C
In 2023, Visit Freeport reported a deficit of $15K with expenses exceeding revenue, holds 5.5 months of operating reserves (adequate), has a debt-to-asset ratio of 91.2% (high leverage).
Financial Trends
Over 10 years of filings (2014–2023), Visit Freeport's revenue has grown at a compound annual growth rate (CAGR) of 2.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +4.9% | +3.2% | -11.2% |
| 2022 | +40.1% | +57.6% | -3.7% |
| 2021 | +13.1% | +4.6% | +18.9% |
| 2020 | -15.3% | -20.6% | -7.2% |
| 2019 | -4.2% | +5.3% | -16.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 2014 |
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 Visit Freeport with a Mission Score of 75 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, Visit Freeport 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 $15K, with expenses exceeding revenue.
- Debt-to-asset ratio: 91.2%.
Executive Compensation Analysis
Visit Freeport consistently reports 0% officer compensation across all ten years of filings, indicating that no compensation was paid to officers, directors, trustees, or key employees, which is highly unusual for an organization of its size and suggests a volunteer-led or very lean executive structure.
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 Visit Freeport's IRS 990 filings:
- Occasional operating deficits (e.g., $14,734 in 202312, $21,418 in 202212) suggest tight financial management or reliance on prior year surpluses.
- Lack of detailed expense breakdown in summary data makes precise spending efficiency analysis challenging.
Strengths
The following positive indicators were identified for Visit Freeport:
- Consistent reporting of 0% officer compensation across all ten filings, indicating a highly efficient or volunteer-led executive structure.
- Positive net assets in all reported periods, demonstrating solvency.
- Consistent filing of IRS 990s for ten years, indicating good transparency and compliance.
- Revenue growth from $263,684 in 202012 to $438,536 in 202312, showing recovery and expansion post-pandemic.
Frequently Asked Questions about Visit Freeport
Is Visit Freeport a legitimate charity?
Based on AI analysis of IRS 990 filings, Visit Freeport (EIN: 10428597) some concerns. Mission Score: 75/100. 2 red flags identified, 4 strengths noted.
How does Visit Freeport spend its money?
Visit Freeport directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Visit Freeport tax-deductible?
Visit Freeport is registered as a tax-exempt nonprofit (EIN: 10428597). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Visit Freeport's spending goes to programs?
Visit Freeport directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Visit Freeport compare to similar nonprofits?
With a transparency score of 75/100 (Good), Visit Freeport is above average for NTEE category S41 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Visit Freeport located?
Visit Freeport is headquartered in Freeport, Maine and files with the IRS under EIN 10428597. It is classified under NTEE code S41.
How many years of IRS 990 filings does Visit Freeport have?
Visit Freeport has 10 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 $439K in total revenue.
Is Visit Freeport financially stable?
Visit Freeport demonstrates reasonable financial stability, though it has experienced operating deficits in several years (e.g., $14,734 in 202312, $21,418 in 202212). Its assets consistently exceed liabilities, indicating a positive net asset position, albeit a modest one.
How does Visit Freeport manage executive compensation?
According to all ten IRS 990 filings, Visit Freeport reports 0% officer compensation, meaning no salaries or other compensation were paid to its officers, directors, trustees, or key employees. This is a significant indicator of a volunteer-driven or extremely lean executive structure.
What are the trends in Visit Freeport's revenue and expenses?
Revenue has fluctuated, reaching a high of $438,536 in 202312 from a low of $263,684 in 202012. Expenses generally track revenue, with the organization occasionally spending more than it earns, as seen in 202312 ($453,270 expenses vs. $438,536 revenue).
Filing History
IRS 990 filing history for Visit Freeport showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2014–2023), Visit Freeport's revenue has grown by 26.8%, moving from $346K to $439K. Total assets increased by 325.7% over the same period, from $49K to $209K. Total functional expenses rose by 53.2%, from $296K to $453K. In its most recent filing year (2023), Visit Freeport reported a deficit of $15K, with expenses exceeding revenue. The organization holds $191K in liabilities against $209K in assets (debt-to-asset ratio: 91.2%), resulting in net assets of $18K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $439K | $453K | $209K | $191K | — | — |
| 2022 | $418K | $439K | $236K | $202K | — | View 990 |
| 2021 | $298K | $279K | $245K | $190K | — | View 990 |
| 2020 | $264K | $266K | $206K | $171K | — | View 990 |
| 2019 | $311K | $336K | $222K | $184K | — | — |
| 2018 | $325K | $319K | $266K | $203K | — | View 990 |
| 2017 | $342K | $344K | $266K | $210K | — | View 990 |
| 2016 | $337K | $331K | $275K | $217K | — | View 990 |
| 2015 | $354K | $343K | $284K | $232K | — | View 990 |
| 2014 | $346K | $296K | $49K | $8K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $439K, expenses of $453K, and assets of $209K (revenue +4.9% year-over-year).
- 2022: Revenue of $418K, expenses of $439K, and assets of $236K (revenue +40.1% year-over-year).
- 2021: Revenue of $298K, expenses of $279K, and assets of $245K (revenue +13.1% year-over-year).
- 2020: Revenue of $264K, expenses of $266K, and assets of $206K (revenue -15.3% year-over-year).
- 2019: Revenue of $311K, expenses of $336K, and assets of $222K (revenue -4.2% year-over-year).
- 2018: Revenue of $325K, expenses of $319K, and assets of $266K (revenue -5.1% year-over-year).
- 2017: Revenue of $342K, expenses of $344K, and assets of $266K (revenue +1.6% year-over-year).
- 2016: Revenue of $337K, expenses of $331K, and assets of $275K (revenue -4.9% year-over-year).
- 2015: Revenue of $354K, expenses of $343K, and assets of $284K (revenue +2.5% year-over-year).
- 2014: Revenue of $346K, expenses of $296K, and assets of $49K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Visit Freeport:
Data Sources and Methodology
This transparency report for Visit Freeport 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.