Quick charity verification for Bar Harbor Historical Society Inc (EIN: 10342596)
Verdict: Bar Harbor Historical Society Inc appears trustworthy
85/100Mission Score
$503KRevenue
$4.7MAssets
2Red Flags
4Strengths
Red Flags
Expenses exceeding revenue in the last two reporting periods (2022 and 2023)
Declining asset base from its peak in 2021
Strengths
Substantial asset base ($4,841,436 in 2023) providing financial stability
No reported officer compensation, indicating highly efficient administrative costs
Consistent IRS 990 filing history (13 filings) demonstrating strong transparency
Periods of strong fundraising or capital campaigns (e.g., 2019 and 2020 revenue spikes)
Spending Breakdown
How Bar Harbor Historical Society Inc allocates its funds across programs, administration, and fundraising.
80%
Program Spending
Healthy — majority goes to mission
15%
Admin Costs
Reasonable — admin costs in check
5%
Fundraising
Within typical range
How to read this: Well-run charities typically spend 75% or more on programs, keep admin under 25%, and fundraising under 15%. A high program ratio means more of every dollar goes directly to the mission.
How to Interpret This Report
What Red Flags Mean
Red flags are potential warning signs identified by AI analysis of IRS 990 filings. They may indicate issues like declining revenue, high executive pay relative to program spending, lack of transparency, or governance concerns. A single red flag does not necessarily mean an organization is untrustworthy, but multiple flags warrant further investigation before donating.
What Mission Score Measures
The Mission Score (0-100) evaluates how effectively a nonprofit fulfills its stated purpose. It combines multiple factors: program spending efficiency (how much goes to programs vs. overhead), financial health and sustainability, governance quality, transparency in reporting, and consistency of operations over time. A score of 70+ indicates strong alignment with the organization’s mission.
Using This Data for Donation Decisions
Use this report as one input in your decision. Look at the overall Mission Score for a quick assessment, review red flags and strengths for specific concerns, check the spending breakdown to see where money goes, and compare executive compensation to the organization’s size. Consider viewing the full transparency report for deeper analysis, and always verify tax-exempt status with the IRS before making large donations.
Frequently Asked Questions about Bar Harbor Historical Society Inc
Is Bar Harbor Historical Society Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Bar Harbor Historical Society Inc (EIN: 10342596) appears trustworthy. Mission Score: 85/100. 2 red flags identified, 4 strengths noted.
Is Bar Harbor Historical Society Inc a good charity to donate to?
Bar Harbor Historical Society Inc has a Mission Score of 85/100. Revenue: $503K. Assets: $4.7M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Bar Harbor Historical Society Inc?
The Employer Identification Number (EIN) for Bar Harbor Historical Society Inc is 10342596. This is the unique tax ID assigned by the IRS.
What is a Mission Score?
The Mission Score is a 0-100 rating that measures how effectively a nonprofit fulfills its stated mission. It factors in program spending efficiency, financial transparency, governance practices, and outcome reporting. Scores above 70 indicate strong mission alignment, 40-69 suggest mixed performance, and below 40 signals potential concerns.
How does Bar Harbor Historical Society Inc spend its money?
Bar Harbor Historical Society Inc allocates 80% to programs, 15% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Bar Harbor Historical Society Inc's tax-exempt status?
You can verify Bar Harbor Historical Society Inc's tax-exempt status using EIN 10342596 on the IRS Tax Exempt Organization Search (TEOS) at apps.irs.gov/app/eos. You can also request copies of their Form 990 directly from the organization, as they are required by law to provide them upon request.
AI Transparency Report
The Bar Harbor Historical Society Inc. demonstrates a generally stable financial position with significant assets, though recent years show expenses exceeding revenue. In 2023, the organization reported revenues of $474,524 against expenses of $537,597, indicating a deficit. This trend of expenses surpassing revenue is also observed in 2022 ($470,064 revenue vs. $530,874 expenses). However, the organization maintains substantial assets, totaling $4,841,436 in 2023, which provides a strong financial cushion. The absence of reported officer compensation across all available filings suggests a volunteer-led or very lean administrative structure, which can be a positive indicator of efficiency and dedication to mission.
Spending efficiency appears to be a mixed bag. While the lack of officer compensation is notable, the consistent operational deficits in the last two years warrant attention. The organization's assets have also seen a slight decline from a peak of $5,963,655 in 2021 to $4,841,436 in 2023, which could be a concern if the deficit trend continues. Transparency is high given the consistent filing of IRS Form 990s over 13 periods, providing a comprehensive historical view of its financial activities.
Overall, the Bar Harbor Historical Society Inc. appears to be a well-established organization with a strong asset base. While recent operational deficits need monitoring, the historical financial data, particularly the significant revenue spikes in 2019 and 2020, suggest periods of strong fundraising or capital campaigns. The consistent zero officer compensation is a significant strength in terms of resource allocation.