Is Skowhegan School Of Painting And Sculpture Inc Legit?
Quick charity verification for Skowhegan School Of Painting And Sculpture Inc (EIN: 10263908)
Verdict: Skowhegan School Of Painting And Sculpture Inc appears trustworthy
90/100Mission Score
$20.8MRevenue
$44.8MAssets
2Red Flags
4Strengths
Red Flags
Operating deficit in 2023: Expenses ($4,130,268) significantly exceeded revenue ($2,214,790) in the latest filing period.
Unusually low (0%) officer compensation reported for an organization of this size, which may warrant further clarification on how leadership is compensated or structured.
Strengths
Strong asset growth: Assets increased from $18.7 million in 2016 to $40.6 million in 2023, indicating robust financial health and capacity.
Very low liabilities: Liabilities consistently remain a small fraction of total assets, demonstrating strong financial management and low debt risk.
Consistent reporting of 0% officer compensation, suggesting a high dedication to mission-related spending.
Significant revenue generation capacity, with several years showing revenues well over $5 million, including a peak of $9.4 million in 2022.
AI Transparency Report
Skowhegan School Of Painting And Sculpture Inc demonstrates a generally strong financial position, with assets growing significantly from $18.7 million in 2016 to over $40.6 million in 2023. The organization has shown a healthy ability to generate revenue, with notable spikes such as $9.4 million in 2022 and $6.8 million in 2019, though revenue in 2023 was $2.2 million, lower than its expenses of $4.1 million for that period. This recent deficit warrants attention, but the overall trend of asset growth and substantial revenue generation over the years suggests a resilient financial model. The organization consistently reports 0% officer compensation, which is a strong indicator of transparency and a focus on mission-related spending rather than executive enrichment. Their liabilities have remained very low relative to their assets, indicating good financial management and low debt risk.