Cardigan Mountain School
Cardigan Mountain School maintains strong asset growth despite recent minor operating deficit.
EIN: 20223580 · Canaan, NH · NTEE: B240 · Updated: 2026-03-28
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| Metric | Value |
|---|---|
| Total Revenue | $61.5M |
| Total Expenses | $22.9M |
| Program Spending | 80% |
| Net Assets | $70.1M |
| Transparency Score | 85/100 |
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Cardigan Mountain School Form 990, Revenue, CEO Pay, and IRS Filing Signals
Cardigan Mountain School is surfaced here as a decision-ready nonprofit financial profile, not just a charity listing. The page consolidates IRS Form 990 revenue, expenses, assets, tax-exempt classification, executive compensation, mission score, red flags, and year-by-year filing history so donors, researchers, journalists, and grant teams can answer the common search questions around Cardigan Mountain School in one place.
Form 990 Filing Summary
12 filing years are available, with latest revenue of $21.9M and expenses of $22.9M.
Revenue and Expenses
Cardigan Mountain School reported $21.9M in revenue and $22.9M in expenses, a deficit of $987K.
Executive Compensation
Officer, director, trustee, and key employee pay is reviewed from IRS 990 compensation disclosures when present.
Charity Score and Red Flags
85/100 mission score, 2 red flags, and 4 strengths are shown from structured and AI review.
Is Cardigan Mountain School Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
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Where the Money Comes From and Where It Goes
Revenue Source Mix
Revenue-source line items are not available on the stored filing yet. Future ingestion now preserves contribution, program-revenue, and investment-income fields when ProPublica provides them.
Expense Deployment
| Program services | $18.3M (80%) |
Across stored filings, Cardigan Mountain School shows contribution history pending. Next enrichment targets: revenue-source fields, IRS BMF classification.
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| Decision Lens | Signal | What to Inspect Next |
|---|---|---|
| Legitimacy | Some Concerns | Good filing record; 2 red flags identified |
| Mission spend | 80% to programs | Excellent |
| Financial durability | Grade B | 12 stored filing years |
| Peer context | Compare with Hellenic Society Paideia Of New Hampshire | New Hampshire and Education context |
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Cardigan Mountain School directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Cardigan Mountain School
Cardigan Mountain School (EIN: 20223580) is a nonprofit organization based in Canaan, NH, classified under NTEE code B240. The organization reported total revenue of $61.5M and total assets of $87.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Cardigan Mountain School's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Cardigan Mountain School is a major nonprofit that has been operating for 80 years, with 12 years of IRS 990 filings on record (2012–2023). Revenue has grown at a compound annual rate of 1.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $21.9M |
| Total Expenses | $22.9M |
| Surplus / Deficit | $-986,670 |
| Total Assets | $85.2M |
| Total Liabilities | $15.1M |
| Net Assets | $70.1M |
| Operating Margin | -4.5% |
| Debt-to-Asset Ratio | 17.7% |
| Months of Reserves | 44.6 months |
Financial Health Grade: B
In 2023, Cardigan Mountain School reported a deficit of $987K with expenses exceeding revenue, holds 44.6 months of operating reserves (strong position), has a debt-to-asset ratio of 17.7% (very low leverage).
Financial Trends
Over 12 years of filings (2012–2023), Cardigan Mountain School's revenue has grown at a compound annual growth rate (CAGR) of 1.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -23.4% | +6.5% | +1.0% |
| 2022 | +46.9% | +9.1% | -4.6% |
| 2021 | -8.0% | -5.3% | +11.1% |
| 2020 | -25.8% | +5.2% | -2.7% |
| 2019 | +41.0% | +5.4% | +10.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 1946 |
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 Cardigan Mountain School 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, Cardigan Mountain School 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 $987K, with expenses exceeding revenue.
- Debt-to-asset ratio: 17.7%.
Executive Compensation Analysis
The consistent reporting of 0% for officer compensation across all available IRS 990 filings is unusual for an organization of this size and suggests that executive compensation may be reported under different categories or that the school's leadership structure does not involve reportable officer compensation in the standard manner.
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 Cardigan Mountain School's IRS 990 filings:
- Consistent 0% officer compensation reported, which is unusual for an organization of this scale and warrants further investigation into executive compensation practices.
- Operating deficit in the most recent 2023 fiscal period ($21.9M revenue vs. $22.9M expenses).
Strengths
The following positive indicators were identified for Cardigan Mountain School:
- Strong and growing asset base, increasing from $61.5 million in 2014 to $85.1 million in 2023.
- Generally stable financial operations with revenues often exceeding expenses over the past decade.
- Consistent revenue generation, indicating a sustainable funding model for its educational mission.
- Low reported liabilities relative to assets, suggesting good financial leverage and stability.
Frequently Asked Questions about Cardigan Mountain School
Is Cardigan Mountain School a legitimate charity?
Cardigan Mountain School (EIN: 20223580) is a registered tax-exempt nonprofit based in New Hampshire. Our AI analysis gives it a Mission Score of 85/100. It has 12 years of IRS 990 filings on record. Total revenue: $61.5M. 2 red flags identified. 4 strengths noted. Financial health grade: B.
How does Cardigan Mountain School spend its money?
Cardigan Mountain School directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Cardigan Mountain School tax-deductible?
Cardigan Mountain School is registered as a tax-exempt nonprofit (EIN: 20223580). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Cardigan Mountain School's spending goes to programs?
Cardigan Mountain School directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Cardigan Mountain School compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Cardigan Mountain School is above average for NTEE category B240 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Cardigan Mountain School located?
Cardigan Mountain School is headquartered in Canaan, New Hampshire and files with the IRS under EIN 20223580. It is classified under NTEE code B240.
How many years of IRS 990 filings does Cardigan Mountain School have?
Cardigan Mountain School has 12 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 $61.5M in total revenue.
How is executive compensation structured if 'Officer Comp' is consistently reported as 0%?
The IRS 990 filings consistently show 0% for officer compensation. This could mean that key executives are compensated through other means (e.g., as employees rather than officers with reportable compensation), or that the school's governance structure does not involve reportable officer compensation in the typical sense. Further detail would be needed to understand the full compensation picture for leadership.
What caused the operating deficit in the 2023 fiscal period?
In the 2023 fiscal period, Cardigan Mountain School reported revenues of $21,934,173 against expenses of $22,920,843, resulting in a deficit of nearly $1 million. The specific causes are not detailed in the summary data provided, but could be due to increased operational costs, decreased enrollment, or investment losses.
What is the long-term strategy for managing liabilities, which have fluctuated significantly?
Liabilities have varied, from a low of $13.4 million in 2014 to a high of $21.6 million in 2016, settling at $15.0 million in 2023. Understanding the nature of these liabilities (e.g., debt, deferred revenue) and the school's strategy for managing them is important for long-term financial health.
Filing History
IRS 990 filing history for Cardigan Mountain School showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2012–2023), Cardigan Mountain School's revenue has grown by 22.6%, moving from $17.9M to $21.9M. Total assets increased by 126.4% over the same period, from $37.6M to $85.2M. Total functional expenses rose by 70.1%, from $13.5M to $22.9M. In its most recent filing year (2023), Cardigan Mountain School reported a deficit of $987K, with expenses exceeding revenue. The organization holds $15.1M in liabilities against $85.2M in assets (debt-to-asset ratio: 17.7%), resulting in net assets of $70.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $21.9M | $22.9M | $85.2M | $15.1M | — | View 990 |
| 2022 | $28.6M | $21.5M | $84.3M | $14.9M | — | View 990 |
| 2021 | $19.5M | $19.7M | $88.3M | $19.1M | — | View 990 |
| 2020 | $21.2M | $20.8M | $79.5M | $18.3M | — | View 990 |
| 2019 | $28.6M | $19.8M | $81.7M | $16.8M | — | View 990 |
| 2018 | $20.3M | $18.8M | $74.0M | $18.2M | — | View 990 |
| 2017 | $15.8M | $17.6M | $72.8M | $19.9M | — | View 990 |
| 2016 | $22.2M | $17.7M | $74.0M | $21.7M | — | View 990 |
| 2015 | $20.9M | $17.5M | $69.5M | $17.7M | — | View 990 |
| 2014 | $21.2M | $16.4M | $61.6M | $13.4M | — | View 990 |
| 2013 | $23.3M | $15.1M | $53.1M | $11.6M | — | View 990 |
| 2012 | $17.9M | $13.5M | $37.6M | $4.6M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $21.9M, expenses of $22.9M, and assets of $85.2M (revenue -23.4% year-over-year).
- 2022: Revenue of $28.6M, expenses of $21.5M, and assets of $84.3M (revenue +46.9% year-over-year).
- 2021: Revenue of $19.5M, expenses of $19.7M, and assets of $88.3M (revenue -8.0% year-over-year).
- 2020: Revenue of $21.2M, expenses of $20.8M, and assets of $79.5M (revenue -25.8% year-over-year).
- 2019: Revenue of $28.6M, expenses of $19.8M, and assets of $81.7M (revenue +41.0% year-over-year).
- 2018: Revenue of $20.3M, expenses of $18.8M, and assets of $74.0M (revenue +28.1% year-over-year).
- 2017: Revenue of $15.8M, expenses of $17.6M, and assets of $72.8M (revenue -28.8% year-over-year).
- 2016: Revenue of $22.2M, expenses of $17.7M, and assets of $74.0M (revenue +6.2% year-over-year).
- 2015: Revenue of $20.9M, expenses of $17.5M, and assets of $69.5M (revenue -1.5% year-over-year).
- 2014: Revenue of $21.2M, expenses of $16.4M, and assets of $61.6M (revenue -8.8% year-over-year).
- 2013: Revenue of $23.3M, expenses of $15.1M, and assets of $53.1M (revenue +30.1% year-over-year).
- 2012: Revenue of $17.9M, expenses of $13.5M, and assets of $37.6M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Cardigan Mountain School:
Data Sources and Methodology
This transparency report for Cardigan Mountain School 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.