Caribou Historical Society

Caribou Historical Society consistently operates at a significant deficit, spending far more than it earns annually.

EIN: 16054897 · Caribou, ME · Updated: 2026-03-28

$4KRevenue

$226KAssets

45/100Mission Score (Fair)

About Caribou Historical Society

Caribou Historical Society (EIN: 16054897) is a nonprofit organization based in Caribou, ME. The organization reported total revenue of $4K and total assets of $226K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Caribou Historical Society's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

The Caribou Historical Society appears to be a small, community-focused organization with a consistent asset base, averaging around $200,000-$220,000 over the past decade. However, a significant concern is its recurring operational deficit. In the latest filing (202306), the organization reported revenue of $2,598 against expenses of $21,841, indicating that expenses were nearly nine times its revenue. This trend of expenses consistently exceeding revenue is evident across most of its filing history, with only a few exceptions (e.g., 201706). This suggests a reliance on drawing down reserves or other non-operating income sources to cover costs, which is not sustainable long-term.

The organization's spending efficiency is difficult to fully assess without a detailed breakdown of program, administrative, and fundraising expenses, which are not provided in the summary data. However, the consistent and substantial gap between revenue and expenses points to potential inefficiencies or a business model that relies heavily on past accumulated assets rather than current fundraising or program fees. The lack of reported officer compensation across all filings indicates a volunteer-led structure, which can be a positive for minimizing administrative overhead, but doesn't negate the overall financial imbalance.

Transparency regarding executive compensation is excellent, as no officer compensation has been reported. However, the overall financial health is precarious due to the persistent operational deficits. While assets have remained relatively stable, the organization is consistently spending more than it brings in from its operations, which could erode its asset base over time if not addressed. The latest revenue of $3,544 against assets of $225,502 suggests a very low asset utilization rate or a significant reliance on endowment income not reflected in the 'Revenue' figures provided.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Caribou Historical Society with a Mission Score of 45 out of 100 (Fair). 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, Caribou Historical Society 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 is reported as 0% across all available filings, indicating a volunteer-led organization. This is commendable for a small organization and helps minimize administrative costs.

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 Caribou Historical Society's IRS 990 filings:

Consistent and significant operational deficits (e.g., 202306: $2,598 revenue vs. $21,841 expenses)
Expenses frequently exceeding revenue by a large margin over multiple years
Low revenue generation relative to asset base and expenses

Strengths

The following positive indicators were identified for Caribou Historical Society:

No reported officer compensation, indicating a volunteer-led structure
Stable asset base over the past decade (around $200,000 - $220,000)
Low liabilities in most years, suggesting good debt management

Frequently Asked Questions about Caribou Historical Society

How does the Caribou Historical Society cover its consistent operational deficits?

The provided data shows that expenses consistently exceed revenue. For example, in 202306, expenses were $21,841 while revenue was only $2,598. This suggests the organization is either drawing down its assets, relying on significant non-operating income not captured in 'Revenue', or receiving substantial in-kind donations to cover its costs.

Is the Caribou Historical Society's current financial model sustainable?

Based on the consistent operational deficits where expenses frequently outpace revenue (e.g., $21,841 expenses vs. $2,598 revenue in 202306), the current financial model appears unsustainable in the long term without significant changes to revenue generation or expense management, or a reliance on a substantial endowment.

What is the primary source of funding for the Caribou Historical Society?

The provided data does not specify the primary source of funding. Given the low reported revenue figures (e.g., $3,544 latest revenue) relative to expenses, it's unclear if it relies on membership fees, grants, donations, or other income streams. Further detail from the full 990 filing would be needed.

Filing History

IRS 990 filing history for Caribou Historical Society showing financial trends over 12 years of public records:

Over 12 years of IRS 990 filings (2012–2023), Caribou Historical Society's revenue has declined by 65.1%, moving from $7K to $3K. Total assets decreased by 14.6% over the same period, from $235K to $200K. Total functional expenses fell by 3.2%, from $23K to $22K. In its most recent filing year (2023), Caribou Historical Society reported a deficit of $19K, with expenses exceeding revenue. The organization holds $5K in liabilities against $200K in assets (debt-to-asset ratio: 2.4%), resulting in net assets of $196K.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$3K	$22K	$200K	$5K	—	View 990
2022	$2K	$14K	$200K	$776	—	View 990
2021	$19K	$20K	$196K	$0	—	View 990
2020	$3K	$18K	$197K	$0	—	View 990
2019	$3K	$17K	$207K	$0	—	View 990
2018	$17K	$17K	$219K	$0	—	—
2017	$30K	$16K	$218K	$0	—	View 990
2016	$12K	$20K	$201K	$0	—	View 990
2015	$6K	$27K	$209K	$0	—	View 990
2014	$20K	$24K	$230K	$0	—	View 990
2013	$20K	$22K	$233K	$0	—	View 990
2012	$7K	$23K	$235K	$0	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $3K, expenses of $22K, and assets of $200K (revenue +25.6% year-over-year).
2022: Revenue of $2K, expenses of $14K, and assets of $200K (revenue -88.9% year-over-year).
2021: Revenue of $19K, expenses of $20K, and assets of $196K (revenue +498.7% year-over-year).
2020: Revenue of $3K, expenses of $18K, and assets of $197K (revenue +5.9% year-over-year).
2019: Revenue of $3K, expenses of $17K, and assets of $207K (revenue -82.3% year-over-year).
2018: Revenue of $17K, expenses of $17K, and assets of $219K (revenue -43.7% year-over-year).
2017: Revenue of $30K, expenses of $16K, and assets of $218K (revenue +148.2% year-over-year).
2016: Revenue of $12K, expenses of $20K, and assets of $201K (revenue +115.9% year-over-year).
2015: Revenue of $6K, expenses of $27K, and assets of $209K (revenue -72.4% year-over-year).
2014: Revenue of $20K, expenses of $24K, and assets of $230K (revenue -1.7% year-over-year).
2013: Revenue of $20K, expenses of $22K, and assets of $233K (revenue +173.6% year-over-year).
2012: Revenue of $7K, expenses of $23K, and assets of $235K.

Data Sources and Methodology

This transparency report for Caribou Historical Society 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.