Civic Intelligence

Auburn Business Development Corporation

EIN 23-7273463 • 501(c)4 • Auburn, ME

Profile

To promote job creation by stimulating industrial and commercial development and expansion in the city of auburn, maine.

PO Box 642Auburn, ME 04212-0642

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

95th percentile

0.89x

Higher debt load relative to assets than 95% of similar nonprofits.

501(c)4 • <$500k nonprofits • Source year 2024

Liabilities / Revenue

97th percentile

1.73x

Higher debt load relative to revenue than 97% of similar nonprofits.

501(c)4 • <$500k nonprofits • Source year 2024

Net Margin

35th percentile

-6.1%

Higher net margin than 35% of similar nonprofits.

501(c)4 • <$500k nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

11th percentile

-69%

Faster asset growth than 11% of similar nonprofits.

501(c)4 • <$500k nonprofits • Annualized from 2022 to 2024

Revenue Growth

19th percentile

-35%

Faster revenue growth than 19% of similar nonprofits.

501(c)4 • <$500k nonprofits • Annualized from 2022 to 2024

Assets

Down

$93,389

Down $769,563 (-89%) from 2023

Liabilities

Down

$82,750

Down $766,662 (-90%) from 2023

Net Assets

Down

$10,639

Down $2,901 (-21%) from 2023

Revenue

Down

$47,783

Down $67,519 (-59%) from 2023

Expenses

Down

$50,684

Down $24,841 (-33%) from 2023

Net Income

Down

-$2,901

Down $42,678 (-107%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$3.0M$2.0M$1.0M$0-$1.0MAssets 2011: $2,323,809Liabilities 2011: $1,832,544Net Assets 2011: $491,2652011Assets 2012: $2,465,613Liabilities 2012: $2,148,926Net Assets 2012: $316,6872012Assets 2013: $2,514,320Liabilities 2013: $2,090,061Net Assets 2013: $424,2592013Assets 2014: $2,376,404Liabilities 2014: $1,760,020Net Assets 2014: $616,3842014Assets 2015: $2,251,332Liabilities 2015: $1,663,545Net Assets 2015: $587,7872015Assets 2016: $2,133,674Liabilities 2016: $1,602,635Net Assets 2016: $531,0392016Assets 2018: $1,885,393Liabilities 2018: $1,583,935Net Assets 2018: $301,4582018Assets 2019: $1,755,921Liabilities 2019: $1,515,378Net Assets 2019: $240,5432019Assets 2020: $1,658,155Liabilities 2020: $1,487,038Net Assets 2020: $171,1172020Assets 2021: $1,172,530Liabilities 2021: $1,214,697Net Assets 2021: -$42,1672021Assets 2022: $998,000Liabilities 2022: $1,024,237Net Assets 2022: -$26,2372022Assets 2023: $862,952Liabilities 2023: $849,412Net Assets 2023: $13,5402023Assets 2024: $93,389Liabilities 2024: $82,750Net Assets 2024: $10,6392024

Highlighted filing

2024

Assets$93,389
Liabilities$82,750
Net Assets$10,639

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$400K$200K$0-$200K-$400KExpenses 2011: $172,4962011Expenses 2012: $173,5552012Expenses 2013: $176,8312013Revenue 2014: $107,008Expenses 2014: $210,768Net Income 2014: -$103,7602014Revenue 2015: $115,137Expenses 2015: $143,732Net Income 2015: -$28,5952015Revenue 2016: $109,115Expenses 2016: $165,863Net Income 2016: -$56,7482016Revenue 2018: $76,593Expenses 2018: $203,240Net Income 2018: -$126,6472018Revenue 2019: $70,320Expenses 2019: $131,236Net Income 2019: -$60,9162019Revenue 2020: $48,125Expenses 2020: $117,551Net Income 2020: -$69,4262020Revenue 2021: -$91,087Expenses 2021: $122,196Net Income 2021: -$213,2832021Revenue 2022: $111,784Expenses 2022: $95,854Net Income 2022: $15,9302022Revenue 2023: $115,302Expenses 2023: $75,525Net Income 2023: $39,7772023Revenue 2024: $47,783Expenses 2024: $50,684Net Income 2024: -$2,9012024

Highlighted filing

2024

Revenue$47,783
Expenses$50,684
Net Income-$2,901

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.09$0.08$0.01$0.05$0.05$0.00
2023Detailed filing. Detailed filing data is available for this year.$0.86$0.85$0.01$0.12$0.08$0.04
2022Detailed filing. Detailed filing data is available for this year.$1.00$1.02$0.03$0.11$0.10$0.02
2021Detailed filing. Detailed filing data is available for this year.$1.17$1.21$0.04$0.09$0.12$0.21
2020Detailed filing. Detailed filing data is available for this year.$1.66$1.49$0.17$0.05$0.12$0.07
2019Detailed filing. Detailed filing data is available for this year.$1.76$1.52$0.24$0.07$0.13$0.06
2018Detailed filing. Detailed filing data is available for this year.$1.89$1.58$0.30$0.08$0.20$0.13
2016Detailed filing. Detailed filing data is available for this year.$2.13$1.60$0.53$0.11$0.17$0.06
2015Detailed filing. Detailed filing data is available for this year.$2.25$1.66$0.59$0.12$0.14$0.03
2014Detailed filing. Detailed filing data is available for this year.$2.38$1.76$0.62$0.11$0.21$0.10
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.51$2.09$0.42$0.18
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.47$2.15$0.32$0.17
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.32$1.83$0.49$0.17
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Jan 16, 2025
Return Version
2023v6.0
Gross Receipts
$47,783
Mission and Program Overview

Mission

To promote job creation by stimulating industrial and commercial development and expansion in the city of auburn, maine.

Promoting job creation in the city of auburn, maine

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$81,325$81,369▲ $44
Cash and Non-Interest-Bearing Accounts$16,440$12,020▼ $4,420
Other Assets Total$765,187$0▼ $765,187
Total Assets$862,952$93,389▼ $769,563
Liabilities
Other Liabilities$847,937$82,750▼ $765,187
Accounts Payable and Accrued Expenses$1,475$0▼ $1,475
Total Liabilities$849,412$82,750▼ $766,662
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$13,540$10,639▼ $2,901
Total Net Assets Fund Balance$13,540$10,639▼ $2,901
Total Liabilities and Net Assets / Fund Balance$862,952$93,389▼ $769,563
Compensation and Service Providers

Board Members and Trustees

NameTitle
Michelle RitchesonPresident
Bruce RiouxBoard Member
Daniel CoteBoard Member
Darcie BeaudinBoard Member
David Pierson EsqBoard Member
David TassanariBoard Member
Kevin FletcherBoard Member
Mike SellingerBoard Member
Paul GardnerBoard Member
Peter MurphyBoard Member
Steve LuntBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$47,783
Other Revenue
$0
Change in Net Assets
$-2,901
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$50,684
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$47,724--$47,724
Fees for Services Accounting-$1,575-$1,575
Insurance-$1,079-$1,079
Office Expenses-$271-$271
Fees for Services Legal-$35-$35
Total Functional Expenses$47,724$2,960$0$50,684
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Debentures$82,750
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

The 990 is reviewed by the organization's board of director's president and finance committee before it is filed with the irs.

Form 990, Part VI, Section B, Line 12C

There is periodic communication between organization directors, community leaders and city officials to make sure no conflicts arise.

Form 990, Part VI, Section B, Line 15

The organization has no employees and pays no compensation.

Form 990, Part VI, Section C, Line 19

Copies of the organization's 990 are available at the guidestar website and copies of all documents are available upon request.

Filing and Contact Details

Filer

Filer Name
Auburn Business Development Corporation
EIN
23-7273463
Phone
2077840161
Address
PO BOX 642, AUBURN, ME 04212-0642

Signing Officer

Name
Michelle Ritcheson President
Title
Board of Directors
Phone
2077840161
Signed
2025-01-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michelle Ritcheson Presi
Formed
1972
Legal Domicile
Me
Voting Board Members
11
Independent Board Members
11
Employees
0
Volunteers
0

Preparer

Firm
AUSTIN ASSOCIATES PA CPA'S
Address
PO BOX 3400, AUBURN, ME 04212-3400
Preparer
Claire Thompson CPA
Phone
2077839111
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

The corporation does not believe it has done anything during the past year that would jeopardize its tax-exempt status at either the state or federal level.

Raw XML Appendix327 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/BooksInCareOfDetail/PhoneNum02073569766
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IRS990/Form990PartVIISectionAGrp/TitleTxt1BOARD MEMBER
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IRS990/Form990PartVIISectionAGrp/TitleTxt3BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt4BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt5BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt6BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt7BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt8BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt9PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt10BOARD MEMBER
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE CORPORATION DOES NOT BELIEVE IT HAS DONE ANYTHING DURING THE PAST YEAR THAT WOULD JEOPARDIZE ITS TAX-EXEMPT STATUS AT EITHER THE STATE OR FEDERAL LEVEL.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE 990 IS REVIEWED BY THE ORGANIZATION'S BOARD OF DIRECTOR'S PRESIDENT AND FINANCE COMMITTEE BEFORE IT IS FILED WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THERE IS PERIODIC COMMUNICATION BETWEEN ORGANIZATION DIRECTORS, COMMUNITY LEADERS AND CITY OFFICIALS TO MAKE SURE NO CONFLICTS ARISE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION HAS NO EMPLOYEES AND PAYS NO COMPENSATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3COPIES OF THE ORGANIZATION'S 990 ARE AVAILABLE AT THE GUIDESTAR WEBSITE AND COPIES OF ALL DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt010639
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt047724
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt059
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt047724
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt047783
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IRS990/TotReportableCompRltdOrgAmt00
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IRS990/VotingMembersGoverningBodyCnt011
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ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0MICHELLE RITCHESON PRESIDENT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0BOARD OF DIRECTORS
ReturnHeader/BusinessOfficerGrp/PhoneNum02077840161
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-01-16
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0AUBURN BUSINESS DEVELOPMENT CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0AUBU
ReturnHeader/Filer/EIN0237273463
ReturnHeader/Filer/PhoneNum02077840161
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 642
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0472171516
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 3400
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0042123400
ReturnHeader/PreparerPersonGrp/PhoneNum02077839111
ReturnHeader/PreparerPersonGrp/PreparationDt02025-01-16
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0CLAIRE THOMPSON CPA
ReturnHeader/ReturnTs02025-05-12T14:18:38-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-07-01
ReturnHeader/TaxPeriodEndDt02024-06-30
ReturnHeader/TaxYr02023

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