Stable asset base of approximately $4 million over the past decade, providing a solid financial foundation
Long history of IRS 990 filings (13 filings), demonstrating commitment to compliance and transparency
Spending Breakdown
How Main Street Gloucester Preservation Trust allocates its funds across programs, administration, and fundraising.
80%
Program Spending
Healthy — majority goes to mission
10%
Admin Costs
Reasonable — admin costs in check
10%
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 Main Street Gloucester Preservation Trust
Is Main Street Gloucester Preservation Trust a legitimate charity?
Based on AI analysis of IRS 990 filings, Main Street Gloucester Preservation Trust (EIN: 202744649) appears trustworthy. Mission Score: 75/100. 3 red flags identified, 3 strengths noted.
Is Main Street Gloucester Preservation Trust a good charity to donate to?
Main Street Gloucester Preservation Trust has a Mission Score of 75/100. Revenue: $979K. Assets: $3.9M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Main Street Gloucester Preservation Trust?
The Employer Identification Number (EIN) for Main Street Gloucester Preservation Trust is 202744649. 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 Main Street Gloucester Preservation Trust spend its money?
Main Street Gloucester Preservation Trust allocates 80% to programs, 10% to administration, and 10% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Main Street Gloucester Preservation Trust's tax-exempt status?
You can verify Main Street Gloucester Preservation Trust's tax-exempt status using EIN 202744649 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 Main Street Gloucester Preservation Trust exhibits a fluctuating financial performance over the past decade, with revenues and expenses varying significantly year-to-year. For instance, in 2023, the organization reported revenues of $51,476 against expenses of $326,045, indicating a substantial deficit. This contrasts sharply with 2021, where revenues of $669,746 exceeded expenses of $412,483. The organization consistently reports 0% officer compensation, which is a positive indicator of financial efficiency and a commitment to directing funds towards its mission rather than executive salaries. However, the significant liabilities of $5,861 in 2023, following a period of low liabilities, warrant closer examination.
The organization's asset base has remained relatively stable, hovering around $4 million, suggesting a consistent long-term financial foundation despite annual fluctuations in operational income and expenditures. The NTEE code S20 (Community Improvement & Capacity Building) aligns with a preservation trust, and the lack of officer compensation enhances its transparency profile. However, the recurring deficits, particularly the large one in 2023, raise questions about the sustainability of its operational model without consistent revenue streams or significant endowment drawdowns. Further details on program spending versus administrative and fundraising costs would provide a more complete picture of spending efficiency.
Overall, while the absence of executive compensation is a strong point for transparency and efficiency, the inconsistent financial performance and recent significant deficit in 2023 suggest potential challenges in maintaining operational stability. Donors should seek more detailed financial statements to understand the allocation of expenses and the strategy for addressing revenue shortfalls. The organization's long history of filings (13 filings) indicates a commitment to compliance, but the financial health appears to be in a period of volatility.