Andover Educational Fund Inc
Andover Educational Fund Inc consistently grows assets with zero officer compensation and healthy revenue surpluses.
EIN: 10451997 · Andover, ME · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $75K |
| Total Expenses | $30K |
| Program Spending | 85% |
| Net Assets | $492K |
| Transparency Score | 90/100 |
Is Andover Educational Fund Inc Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Andover Educational Fund Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Andover Educational Fund Inc
Andover Educational Fund Inc (EIN: 10451997) is a nonprofit organization based in Andover, ME. The organization reported total revenue of $75K and total assets of $492K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Andover Educational Fund Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Andover Educational Fund Inc is a micro nonprofit that has been operating for 34 years, with 13 years of IRS 990 filings on record (2011–2024). Revenue has grown at a compound annual rate of -0.5%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $75K |
| Total Expenses | $30K |
| Surplus / Deficit | +$45K |
| Total Assets | $492K |
| Net Assets | $492K |
| Operating Margin | 60.4% |
| Months of Reserves | 199.6 months |
Financial Health Grade: A
In 2024, Andover Educational Fund Inc reported a surplus of $45K with revenue exceeding expenses, holds 199.6 months of operating reserves (strong position).
Financial Trends
Over 13 years of filings (2011–2024), Andover Educational Fund Inc's revenue has declined at a compound annual growth rate (CAGR) of -0.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | +28.7% | -10.0% | +19.1% |
| 2022 | -24.2% | +159.0% | -6.7% |
| 2021 | +130.8% | -61.4% | +16.8% |
| 2020 | +7.8% | +28.0% | +0.1% |
| 2019 | -21.9% | -15.0% | +1.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1992 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Andover Educational Fund Inc with a Mission Score of 90 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Andover Educational Fund Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $45K, with revenue exceeding expenses.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that the organization's leadership is entirely volunteer-based, which significantly reduces overhead and maximizes funds available for its mission.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Strengths
The following positive indicators were identified for Andover Educational Fund Inc:
- Consistent asset growth, from $382,460 in 2014 to $492,342 in 2024.
- Zero liabilities reported across all filings, indicating strong financial stability.
- No officer compensation reported, suggesting a volunteer-led organization and efficient use of funds.
- Healthy revenue surpluses in most periods, allowing for reinvestment into the mission.
- Consistent filing history over 13 periods, demonstrating transparency and compliance.
Frequently Asked Questions about Andover Educational Fund Inc
Is Andover Educational Fund Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Andover Educational Fund Inc (EIN: 10451997) appears legitimate. Mission Score: 90/100. 0 red flags identified, 5 strengths noted.
How does Andover Educational Fund Inc spend its money?
Andover Educational Fund Inc directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Andover Educational Fund Inc tax-deductible?
Andover Educational Fund Inc is registered as a tax-exempt nonprofit (EIN: 10451997). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Andover Educational Fund Inc's spending goes to programs?
Andover Educational Fund Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Andover Educational Fund Inc located?
Andover Educational Fund Inc is headquartered in Andover, Maine and files with the IRS under EIN 10451997.
How many years of IRS 990 filings does Andover Educational Fund Inc have?
Andover Educational Fund Inc has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $75K in total revenue.
Is Andover Educational Fund Inc a good charity?
Based on the provided financial data, Andover Educational Fund Inc appears to be a very good charity. It demonstrates strong financial health with growing assets, no liabilities, and a consistent surplus of revenue over expenses. The absence of officer compensation is a significant positive, suggesting a highly efficient and volunteer-driven model.
How does Andover Educational Fund Inc manage its finances?
The organization manages its finances prudently, consistently generating more revenue than expenses, leading to a steady increase in assets from $382,460 in 2014 to $492,342 in 2024. It operates with zero liabilities and no officer compensation, indicating a very lean and responsible financial approach.
What is the trend in Andover Educational Fund Inc's revenue and expenses?
Revenue has fluctuated but generally shows growth, with the latest period (202406) at $74,655, up from $30,748 in 201906. Expenses have remained relatively stable and well below revenue, with the latest at $29,599, demonstrating consistent financial control.
Filing History
IRS 990 filing history for Andover Educational Fund Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2024), Andover Educational Fund Inc's revenue has declined by 6.4%, moving from $80K to $75K. Total assets increased by 40.8% over the same period, from $350K to $492K. Total functional expenses fell by 46.2%, from $55K to $30K. In its most recent filing year (2024), Andover Educational Fund Inc reported a surplus of $45K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $75K | $30K | $492K | $0 | — | — |
| 2022 | $58K | $33K | $413K | $0 | — | View 990 |
| 2021 | $76K | $13K | $443K | $0 | — | — |
| 2020 | $33K | $33K | $379K | $0 | — | — |
| 2019 | $31K | $26K | $379K | $0 | — | View 990 |
| 2018 | $39K | $30K | $374K | $0 | — | — |
| 2017 | $61K | $38K | $365K | $0 | — | View 990 |
| 2016 | $6K | $31K | $342K | $0 | — | View 990 |
| 2015 | $18K | $34K | $366K | $0 | — | View 990 |
| 2014 | $66K | $28K | $382K | $0 | — | View 990 |
| 2013 | $59K | $31K | $345K | $0 | — | View 990 |
| 2012 | $16K | $52K | $317K | $0 | — | View 990 |
| 2011 | $80K | $55K | $350K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $75K, expenses of $30K, and assets of $492K (revenue +28.7% year-over-year).
- 2022: Revenue of $58K, expenses of $33K, and assets of $413K (revenue -24.2% year-over-year).
- 2021: Revenue of $76K, expenses of $13K, and assets of $443K (revenue +130.8% year-over-year).
- 2020: Revenue of $33K, expenses of $33K, and assets of $379K (revenue +7.8% year-over-year).
- 2019: Revenue of $31K, expenses of $26K, and assets of $379K (revenue -21.9% year-over-year).
- 2018: Revenue of $39K, expenses of $30K, and assets of $374K (revenue -35.2% year-over-year).
- 2017: Revenue of $61K, expenses of $38K, and assets of $365K (revenue +851.4% year-over-year).
- 2016: Revenue of $6K, expenses of $31K, and assets of $342K (revenue -63.7% year-over-year).
- 2015: Revenue of $18K, expenses of $34K, and assets of $366K (revenue -73.3% year-over-year).
- 2014: Revenue of $66K, expenses of $28K, and assets of $382K (revenue +12.7% year-over-year).
- 2013: Revenue of $59K, expenses of $31K, and assets of $345K (revenue +268.8% year-over-year).
- 2012: Revenue of $16K, expenses of $52K, and assets of $317K (revenue -80.1% year-over-year).
- 2011: Revenue of $80K, expenses of $55K, and assets of $350K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Andover Educational Fund Inc:
Data Sources and Methodology
This transparency report for Andover Educational Fund Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.