Anne Whiteman Richardson Residuary Charitable Tr
Anne Whiteman Richardson Residuary Charitable Tr consistently spends more than its annual revenue, drawing from its endowment.
EIN: 16145027 · Portland, ME · NTEE: T22Z · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $207K |
| Total Expenses | $89K |
| Program Spending | 80% |
| Net Assets | $1.3M |
| Transparency Score | 65/100 |
Is Anne Whiteman Richardson Residuary Charitable Tr Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Anne Whiteman Richardson Residuary Charitable Tr directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Anne Whiteman Richardson Residuary Charitable Tr
Anne Whiteman Richardson Residuary Charitable Tr (EIN: 16145027) is a nonprofit organization based in Portland, ME, classified under NTEE code T22Z. The organization reported total revenue of $207K and total assets of $1.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Anne Whiteman Richardson Residuary Charitable Tr's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Anne Whiteman Richardson Residuary Charitable Tr is a small nonprofit that has been operating for 28 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -9.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $41K |
| Total Expenses | $89K |
| Surplus / Deficit | $-48,022 |
| Total Assets | $1.3M |
| Total Liabilities | $1 |
| Net Assets | $1.3M |
| Operating Margin | -116.8% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 173.9 months |
Financial Health Grade: B
In 2023, Anne Whiteman Richardson Residuary Charitable Tr reported a deficit of $48K with expenses exceeding revenue, holds 173.9 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), Anne Whiteman Richardson Residuary Charitable Tr's revenue has declined at a compound annual growth rate (CAGR) of -9.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -69.4% | -35.2% | -3.6% |
| 2022 | -2.1% | +44.3% | -4.6% |
| 2021 | +117.4% | +0.2% | +3.1% |
| 2020 | -40.6% | -16.0% | -2.3% |
| 2019 | +133.3% | +4.1% | +1.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1998 |
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 Anne Whiteman Richardson Residuary Charitable Tr with a Mission Score of 65 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 20%
- programs: 80%
- fundraising: 0%
According to IRS 990 filings, Anne Whiteman Richardson Residuary Charitable Tr allocates its expenses as follows: admin: 20%, programs: 80%, fundraising: 0%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $48K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that the trust does not pay salaries to officers or key employees, which is common for smaller trusts managed by fiduciaries or volunteers.
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.
Red Flags
The following concerns were identified during AI analysis of Anne Whiteman Richardson Residuary Charitable Tr's IRS 990 filings:
- Consistent deficit spending, with expenses frequently exceeding revenue (e.g., $89,150 expenses vs. $41,128 revenue in 2023), indicating reliance on endowment drawdowns.
- Declining asset base over the long term, from $1,476,070 in 2012 to $1,291,998 in 2023, suggesting potential erosion of principal if spending continues to outpace investment growth.
Strengths
The following positive indicators were identified for Anne Whiteman Richardson Residuary Charitable Tr:
- Zero officer compensation, indicating efficient use of funds without high executive salaries.
- Very low liabilities across all reported periods ($0 or $1), demonstrating strong financial solvency and no significant debt burden.
- Stable asset base over $1.2 million, providing a consistent foundation for its charitable distributions.
Frequently Asked Questions about Anne Whiteman Richardson Residuary Charitable Tr
Is Anne Whiteman Richardson Residuary Charitable Tr a legitimate charity?
Based on AI analysis of IRS 990 filings, Anne Whiteman Richardson Residuary Charitable Tr (EIN: 16145027) some concerns. Mission Score: 65/100. 2 red flags identified, 3 strengths noted.
How does Anne Whiteman Richardson Residuary Charitable Tr spend its money?
Anne Whiteman Richardson Residuary Charitable Tr directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Anne Whiteman Richardson Residuary Charitable Tr tax-deductible?
Anne Whiteman Richardson Residuary Charitable Tr is registered as a tax-exempt nonprofit (EIN: 16145027). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Anne Whiteman Richardson Residuary Charitable Tr compare to similar nonprofits?
With a transparency score of 65/100 (Good), Anne Whiteman Richardson Residuary Charitable Tr is above average for NTEE category T22Z nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Anne Whiteman Richardson Residuary Charitable Tr located?
Anne Whiteman Richardson Residuary Charitable Tr is headquartered in Portland, Maine and files with the IRS under EIN 16145027. It is classified under NTEE code T22Z.
How many years of IRS 990 filings does Anne Whiteman Richardson Residuary Charitable Tr have?
Anne Whiteman Richardson Residuary Charitable Tr has 10 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 $207K in total revenue.
What is the primary purpose of the Anne Whiteman Richardson Residuary Charitable Tr?
As a residuary charitable trust, its primary purpose is typically to distribute funds (grants) to other charitable organizations or for specific charitable purposes as outlined in the trust instrument, rather than operating direct programs itself. The NTEE code T22Z suggests it's a grantmaking foundation.
Is the trust's consistent deficit spending sustainable?
While the trust has consistently spent more than its annual revenue, drawing from its endowment, its asset base has remained relatively stable, fluctuating between $1.2 million and $1.4 million over the past decade. This indicates that the spending is likely within a sustainable distribution rate relative to its investment returns and principal, though continued monitoring of asset erosion is warranted.
How does the trust ensure its grants are effective?
The IRS 990-PF filings would detail the specific grants made, including recipient organizations and amounts. To assess effectiveness, one would need to review these grant lists and potentially research the impact of the recipient organizations. The 990-PF would also show if the trust has a formal grantmaking policy or due diligence process.
Filing History
IRS 990 filing history for Anne Whiteman Richardson Residuary Charitable Tr showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Anne Whiteman Richardson Residuary Charitable Tr's revenue has declined by 68.3%, moving from $130K to $41K. Total assets decreased by 10.3% over the same period, from $1.4M to $1.3M. Total functional expenses fell by 15.2%, from $105K to $89K. In its most recent filing year (2023), Anne Whiteman Richardson Residuary Charitable Tr reported a deficit of $48K, with expenses exceeding revenue. The organization holds $1 in liabilities against $1.3M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $1.3M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $41K | $89K | $1.3M | $1 | — | — |
| 2022 | $134K | $138K | $1.3M | $1 | — | View 990 |
| 2021 | $137K | $95K | $1.4M | $1 | — | — |
| 2020 | $63K | $95K | $1.4M | $1 | — | View 990 |
| 2019 | $106K | $113K | $1.4M | $1 | — | View 990 |
| 2015 | $46K | $109K | $1.4M | $0 | — | View 990 |
| 2014 | $88K | $105K | $1.4M | $0 | — | View 990 |
| 2013 | $86K | $103K | $1.5M | $0 | — | View 990 |
| 2012 | $137K | $102K | $1.5M | $0 | — | View 990 |
| 2011 | $130K | $105K | $1.4M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $41K, expenses of $89K, and assets of $1.3M (revenue -69.4% year-over-year).
- 2022: Revenue of $134K, expenses of $138K, and assets of $1.3M (revenue -2.1% year-over-year).
- 2021: Revenue of $137K, expenses of $95K, and assets of $1.4M (revenue +117.4% year-over-year).
- 2020: Revenue of $63K, expenses of $95K, and assets of $1.4M (revenue -40.6% year-over-year).
- 2019: Revenue of $106K, expenses of $113K, and assets of $1.4M (revenue +133.3% year-over-year).
- 2015: Revenue of $46K, expenses of $109K, and assets of $1.4M (revenue -48.3% year-over-year).
- 2014: Revenue of $88K, expenses of $105K, and assets of $1.4M (revenue +2.4% year-over-year).
- 2013: Revenue of $86K, expenses of $103K, and assets of $1.5M (revenue -37.2% year-over-year).
- 2012: Revenue of $137K, expenses of $102K, and assets of $1.5M (revenue +5.7% year-over-year).
- 2011: Revenue of $130K, expenses of $105K, and assets of $1.4M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Anne Whiteman Richardson Residuary Charitable Tr:
Data Sources and Methodology
This transparency report for Anne Whiteman Richardson Residuary Charitable Tr 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.