Somerset Economic Development Corporation
Skowhegan, Maine
BHealth Score
61B
Financial Health Score
8-metric score across financial health, operational efficiency, and resilience. Based on IRS Form 990 filing data.
Above Average
💰
$551K
Total Revenue
📊
$557K
Total Expenses
🏦
$1.6M
Net Assets
📋
$1.6M
Total Liabilities
Financial Trends
5-Year Trend Analysis
Financial Health Indicators
Revenue Growth
-54.7%
Year-over-year change (2022 → 2023)
Net Margin
-1.0%
Revenue minus expenses as % of revenue
Working Capital Ratio
2.92
Net assets divided by total expenses
Liabilities-to-Assets
49.8%
Total liabilities as % of total assets
Filing History
14 filings on record| Year | Revenue | Expenses | Assets | |
|---|---|---|---|---|
| 2023 | $551,464↓55% | $556,851↑327% | $3,234,142↑3% | — |
| 2022 | $1,217,524↑348% | $130,299↓21% | $3,148,019↑80% | — |
| 2021 | $271,933↑58% | $165,952↑1% | $1,748,617↑59% | — |
| 2020 | $172,433↓25% | $164,877↓20% | $1,099,586↑5% | — |
| 2019 | $230,458↓7% | $206,114↑19% | $1,051,157↑14% | — |
| 2018 | $247,105↓26% | $173,182↑78% | $920,396↑28% | — |
| 2017 | $331,849↑377% | $97,281 | $721,188↑65% | — |
| 2016 | $69,538↓28% | $97,567↑3% | $438,174↓5% | — |
| 2015 | $97,220↓31% | $94,697↓31% | $458,829 | — |
| 2014 | $141,353↓17% | $138,049↓49% | $458,776↑7% | — |
| 2013 | $169,740↓56% | $272,195↓19% | $430,174↓6% | — |
| 2012 | $389,645↓40% | $334,144↓50% | $458,013↑30% | — |
| 2011 | $653,409↑334% | $670,371↑331% | $352,156↑39% | — |
| 2010 | $150,548 | $155,587 | $254,200 | — |
Frequently Asked Questions
What does Somerset Economic Development Corporation do?▼
Somerset Economic Development Corporation is a public & societal benefit nonprofit organization based in Maine. It is classified under NTEE code W20 and is registered as a 501(c) tax-exempt organization with the IRS.
Is Somerset Economic Development Corporation financially healthy?▼
Financial health scoring requires Form 990 filing data. Check back as we process more filings for Somerset Economic Development Corporation.
How much revenue does Somerset Economic Development Corporation generate?▼
Somerset Economic Development Corporation reports $440K in annual revenue and holds $6.1M in total assets, based on IRS filings.
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