Bar Harbor Historical Society Inc
Bar Harbor Historical Society Inc. shows recent operational deficits despite substantial assets and no reported officer compensation.
EIN: 10342596 · Bar Harbor, ME · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $503K |
| Total Expenses | $538K |
| Program Spending | 80% |
| CEO/Top Officer Pay | $5 |
| Net Assets | $3.8M |
| Transparency Score | 85/100 |
Is Bar Harbor Historical Society Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Bar Harbor Historical Society Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Bar Harbor Historical Society Inc
Bar Harbor Historical Society Inc (EIN: 10342596) is a nonprofit organization based in Bar Harbor, ME. The organization reported total revenue of $503K and total assets of $4.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Bar Harbor Historical Society Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Bar Harbor Historical Society Inc is a small nonprofit that has been operating for 49 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 17.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $475K |
| Total Expenses | $538K |
| Surplus / Deficit | $-63,073 |
| Total Assets | $4.8M |
| Total Liabilities | $1.0M |
| Net Assets | $3.8M |
| Operating Margin | -13.3% |
| Debt-to-Asset Ratio | 21.0% |
| Months of Reserves | 108.1 months |
Financial Health Grade: B
In 2023, Bar Harbor Historical Society Inc reported a deficit of $63K with expenses exceeding revenue, holds 108.1 months of operating reserves (strong position), has a debt-to-asset ratio of 21.0% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), Bar Harbor Historical Society Inc's revenue has grown at a compound annual growth rate (CAGR) of 17.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +0.9% | +1.3% | -1.5% |
| 2022 | -17.6% | +50.5% | -17.6% |
| 2021 | -54.5% | +33.6% | +0.5% |
| 2020 | +18.3% | +32.3% | +2.0% |
| 2019 | +65.9% | +223.6% | +188.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 1977 |
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 Bar Harbor Historical Society Inc with a Mission Score of 85 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: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Bar Harbor Historical Society Inc allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. 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 $63K, with expenses exceeding revenue.
- Debt-to-asset ratio: 21.0%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that the organization's leadership is either entirely volunteer-based or compensated through other means not categorized as officer compensation, which is highly efficient for an organization of its size with assets nearing $5 million.
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 Bar Harbor Historical Society Inc's IRS 990 filings:
- Expenses exceeding revenue in the last two reporting periods (2022 and 2023)
- Declining asset base from its peak in 2021
Strengths
The following positive indicators were identified for Bar Harbor Historical Society Inc:
- Substantial asset base ($4,841,436 in 2023) providing financial stability
- No reported officer compensation, indicating highly efficient administrative costs
- Consistent IRS 990 filing history (13 filings) demonstrating strong transparency
- Periods of strong fundraising or capital campaigns (e.g., 2019 and 2020 revenue spikes)
Frequently Asked Questions about Bar Harbor Historical Society Inc
Is Bar Harbor Historical Society Inc a legitimate charity?
Bar Harbor Historical Society Inc (EIN: 10342596) is a registered tax-exempt nonprofit based in Maine. Our AI analysis gives it a Mission Score of 85/100. It has 13 years of IRS 990 filings on record. Total revenue: $503K. 2 red flags identified. 4 strengths noted. Financial health grade: B.
How does Bar Harbor Historical Society Inc spend its money?
Bar Harbor Historical Society Inc directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Bar Harbor Historical Society Inc tax-deductible?
Bar Harbor Historical Society Inc is registered as a tax-exempt nonprofit (EIN: 10342596). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Bar Harbor Historical Society Inc CEO make?
Bar Harbor Historical Society Inc's highest-compensated officer earns $5 annually. The organization reported $503K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Bar Harbor Historical Society Inc's spending goes to programs?
Bar Harbor Historical Society Inc directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Bar Harbor Historical Society Inc located?
Bar Harbor Historical Society Inc is headquartered in Bar Harbor, Maine and files with the IRS under EIN 10342596.
How many years of IRS 990 filings does Bar Harbor Historical Society Inc have?
Bar Harbor Historical Society 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 $503K in total revenue.
Is Bar Harbor Historical Society Inc. financially sustainable given recent deficits?
While the organization has reported operational deficits in 2022 and 2023, its substantial asset base of $4,841,436 in 2023 provides a significant buffer. Continued deficits without a plan to increase revenue or reduce expenses could impact long-term sustainability, but current assets offer considerable resilience.
What caused the significant revenue spikes in 2019 and 2020?
The filings show revenue of $1,059,637 in 2019 and $1,253,340 in 2020, significantly higher than other years. This suggests successful capital campaigns, major grants, or large one-time donations during those periods, which are not typical operating revenues.
How does the organization manage without officer compensation?
The consistent reporting of 0% officer compensation implies that the organization relies heavily on volunteer leadership or that key personnel are compensated through other categories (e.g., program staff) rather than as officers, which is a highly cost-effective model for administrative overhead.
Are the declining assets a concern?
Assets have decreased from a peak of $5,963,655 in 2021 to $4,841,436 in 2023. While still substantial, this decline, coupled with recent operational deficits, warrants monitoring to ensure it doesn't erode the organization's long-term financial stability.
Filing History
IRS 990 filing history for Bar Harbor Historical Society Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Bar Harbor Historical Society Inc's revenue has grown by 617.1%, moving from $66K to $475K. Total assets increased by 536.9% over the same period, from $760K to $4.8M. Total functional expenses rose by 1534.7%, from $33K to $538K. In its most recent filing year (2023), Bar Harbor Historical Society Inc reported a deficit of $63K, with expenses exceeding revenue. The organization holds $1.0M in liabilities against $4.8M in assets (debt-to-asset ratio: 21.0%), resulting in net assets of $3.8M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $475K | $538K | $4.8M | $1.0M | — | — |
| 2022 | $470K | $531K | $4.9M | $1.1M | — | — |
| 2021 | $571K | $353K | $6.0M | $2.0M | — | View 990 |
| 2020 | $1.3M | $264K | $5.9M | $2.1M | — | View 990 |
| 2019 | $1.1M | $200K | $5.8M | $2.9M | — | View 990 |
| 2018 | $639K | $62K | $2.0M | $0 | — | View 990 |
| 2017 | $121K | $71K | $1.7M | $0 | — | View 990 |
| 2016 | $117K | $76K | $1.5M | $0 | — | View 990 |
| 2015 | $90K | $37K | $1.3M | $0 | — | View 990 |
| 2014 | $90K | $49K | $1.3M | $0 | — | View 990 |
| 2013 | $95K | $54K | $1.1M | $0 | — | View 990 |
| 2012 | $73K | $67K | $827K | $0 | — | View 990 |
| 2011 | $66K | $33K | $760K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $475K, expenses of $538K, and assets of $4.8M (revenue +0.9% year-over-year).
- 2022: Revenue of $470K, expenses of $531K, and assets of $4.9M (revenue -17.6% year-over-year).
- 2021: Revenue of $571K, expenses of $353K, and assets of $6.0M (revenue -54.5% year-over-year).
- 2020: Revenue of $1.3M, expenses of $264K, and assets of $5.9M (revenue +18.3% year-over-year).
- 2019: Revenue of $1.1M, expenses of $200K, and assets of $5.8M (revenue +65.9% year-over-year).
- 2018: Revenue of $639K, expenses of $62K, and assets of $2.0M (revenue +427.4% year-over-year).
- 2017: Revenue of $121K, expenses of $71K, and assets of $1.7M (revenue +3.9% year-over-year).
- 2016: Revenue of $117K, expenses of $76K, and assets of $1.5M (revenue +29.3% year-over-year).
- 2015: Revenue of $90K, expenses of $37K, and assets of $1.3M (revenue -0.1% year-over-year).
- 2014: Revenue of $90K, expenses of $49K, and assets of $1.3M (revenue -4.8% year-over-year).
- 2013: Revenue of $95K, expenses of $54K, and assets of $1.1M (revenue +29.9% year-over-year).
- 2012: Revenue of $73K, expenses of $67K, and assets of $827K (revenue +10.2% year-over-year).
- 2011: Revenue of $66K, expenses of $33K, and assets of $760K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Bar Harbor Historical Society Inc:
Data Sources and Methodology
This transparency report for Bar Harbor Historical Society 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.