Barmore Fund
Barmore Fund consistently spends more than it earns, drawing down assets over the past decade.
EIN: 10540393 · Harpswell, ME · NTEE: T22 · Updated: 2026-03-28
Is Barmore Fund Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Barmore Fund directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Barmore Fund
Barmore Fund (EIN: 10540393) is a nonprofit organization based in Harpswell, ME, classified under NTEE code T22. The organization reported total revenue of $136K and total assets of $549K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Barmore Fund's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Barmore Fund 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: 70%
- fundraising: 10%
According to IRS 990 filings, Barmore Fund allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Executive Compensation Analysis
Executive compensation has consistently been reported as 0% across all available filings, indicating that the organization's officers are not compensated, which is a positive for a small fund of this size.
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 Barmore Fund's IRS 990 filings:
- Consistent operational deficits, with expenses exceeding revenue in every reported year from 2011 to 2023.
- Declining asset base over the past decade, from $671,270 in 2011 to $559,383 in 2023, indicating a spend-down trend.
Strengths
The following positive indicators were identified for Barmore Fund:
- Zero reported officer compensation across all filings, indicating efficient use of funds at the executive level.
- Consistent filing of IRS Form 990s, demonstrating transparency in financial reporting.
Frequently Asked Questions about Barmore Fund
Is Barmore Fund a legitimate charity?
Based on AI analysis of IRS 990 filings, Barmore Fund (EIN: 10540393) some concerns. Mission Score: 65/100. 2 red flags identified, 2 strengths noted.
How does Barmore Fund spend its money?
Barmore Fund directs 70% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Barmore Fund tax-deductible?
Barmore Fund is registered as a tax-exempt nonprofit (EIN: 10540393). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Why does the Barmore Fund consistently operate at a deficit?
The provided data shows that for every year from 2011 to 2023, the Barmore Fund's expenses have exceeded its revenue. For example, in 2023, revenue was $15,270 while expenses were $50,627. This suggests the organization is intentionally spending down its endowment or relying on prior year surpluses, which is common for some private foundations.
What is the Barmore Fund's primary purpose given its NTEE code T22?
An NTEE code of T22 indicates that the Barmore Fund is classified as a Private Grantmaking Foundation. This means its primary purpose is likely to provide grants to other organizations or individuals, rather than directly operating programs itself.
How has the Barmore Fund's asset base changed over time?
The Barmore Fund's assets have steadily declined over the past decade, from $671,270 in 2011 to $559,383 in 2023. This decline is consistent with the organization's pattern of spending more than its annual revenue.
Is the Barmore Fund financially stable for the long term?
While the fund has a substantial asset base of $548,862, its consistent operational deficits, where expenses exceed revenue, suggest that it is drawing down its principal. Without a change in revenue generation or expense management, this trend is not sustainable indefinitely for long-term growth, though it may be part of a planned spend-down strategy for a private foundation.
Filing History
IRS 990 filing history for Barmore Fund showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Barmore Fund's revenue has declined by 42.7%, moving from $27K to $15K. Total assets decreased by 16.7% over the same period, from $671K to $559K. Total functional expenses rose by 10%, from $46K to $51K. In its most recent filing year (2023), Barmore Fund reported a deficit of $35K, with expenses exceeding revenue. The organization holds $40K in liabilities against $559K in assets (debt-to-asset ratio: 7.1%), resulting in net assets of $520K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $15K | $51K | $559K | $40K | — | — |
| 2022 | $38K | $52K | $595K | $40K | — | — |
| 2021 | $58K | $54K | $611K | $43K | — | — |
| 2020 | $34K | $49K | $605K | $40K | — | — |
| 2019 | $15K | $46K | $618K | $37K | — | View 990 |
| 2015 | $16K | $46K | $634K | $0 | — | View 990 |
| 2014 | $22K | $45K | $650K | $37K | — | View 990 |
| 2013 | $21K | $45K | $644K | $37K | — | View 990 |
| 2012 | $22K | $45K | $656K | $37K | — | View 990 |
| 2011 | $27K | $46K | $671K | $37K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $15K, expenses of $51K, and assets of $559K (revenue -60.1% year-over-year).
- 2022: Revenue of $38K, expenses of $52K, and assets of $595K (revenue -34.3% year-over-year).
- 2021: Revenue of $58K, expenses of $54K, and assets of $611K (revenue +71.6% year-over-year).
- 2020: Revenue of $34K, expenses of $49K, and assets of $605K (revenue +124.0% year-over-year).
- 2019: Revenue of $15K, expenses of $46K, and assets of $618K (revenue -6.0% year-over-year).
- 2015: Revenue of $16K, expenses of $46K, and assets of $634K (revenue -25.9% year-over-year).
- 2014: Revenue of $22K, expenses of $45K, and assets of $650K (revenue +3.7% year-over-year).
- 2013: Revenue of $21K, expenses of $45K, and assets of $644K (revenue -3.1% year-over-year).
- 2012: Revenue of $22K, expenses of $45K, and assets of $656K (revenue -18.8% year-over-year).
- 2011: Revenue of $27K, expenses of $46K, and assets of $671K.
Data Sources and Methodology
This transparency report for Barmore Fund 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.