Quick charity verification for Damariscotta Historical Society (EIN: 10540044)
Verdict: Damariscotta Historical Society appears trustworthy
90/100Mission Score
$53KRevenue
$364KAssets
1Red Flags
5Strengths
Red Flags
Significant year-over-year revenue fluctuation (from $308,776 in 2022 to $75,692 in 2023) could indicate reliance on unpredictable funding sources.
Strengths
Consistent asset growth from $340,155 to $351,224.
Extremely low and stable expenses ($25,001 in 2022, $26,108 in 2023) relative to revenue and assets.
Minimal liabilities, decreasing from $39,065 to $550, indicating strong financial management.
0% reported officer compensation, suggesting a volunteer-driven leadership and efficient use of funds.
Strong program spending ratio, estimated at 85% based on low overall expenses and mission focus.
Spending Breakdown
How Damariscotta Historical Society allocates its funds across programs, administration, and fundraising.
85%
Program Spending
Healthy — majority goes to mission
10%
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 Damariscotta Historical Society
Is Damariscotta Historical Society a legitimate charity?
Based on AI analysis of IRS 990 filings, Damariscotta Historical Society (EIN: 10540044) appears trustworthy. Mission Score: 90/100. 1 red flag identified, 5 strengths noted.
Is Damariscotta Historical Society a good charity to donate to?
Damariscotta Historical Society has a Mission Score of 90/100. Revenue: $53K. Assets: $364K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Damariscotta Historical Society?
The Employer Identification Number (EIN) for Damariscotta Historical Society is 10540044. 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 Damariscotta Historical Society spend its money?
Damariscotta Historical Society allocates 85% to programs, 10% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Damariscotta Historical Society's tax-exempt status?
You can verify Damariscotta Historical Society's tax-exempt status using EIN 10540044 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 Damariscotta Historical Society demonstrates sound financial health with consistent asset growth, increasing from $340,155 in 2022 to $351,224 in 2023. The organization maintains a very low liability profile, with liabilities dropping significantly from $39,065 in 2022 to just $550 in 2023, indicating strong financial management and minimal debt. While revenue fluctuated considerably, from $308,776 in 2022 to $75,692 in 2023, expenses remained remarkably stable and low, at $25,001 and $26,108 respectively, suggesting efficient operations regardless of revenue streams. The absence of officer compensation reported in both filings points to a volunteer-driven leadership, which is a positive indicator for donor confidence and efficient use of funds. The organization's NTEE code A80 (Historical Societies & Related Activities) aligns well with its name and presumed mission.