Damariscotta Historical Society
Damariscotta Historical Society shows stable expenses and asset growth despite fluctuating revenue, with no reported officer compensation.
EIN: 10540044 · Damariscotta, ME · NTEE: A80 · Updated: 2026-03-28
Is Damariscotta Historical Society Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Damariscotta Historical Society directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Damariscotta Historical Society
Damariscotta Historical Society (EIN: 10540044) is a nonprofit organization based in Damariscotta, ME, classified under NTEE code A80. The organization reported total revenue of $53K and total assets of $364K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Damariscotta Historical Society'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 Damariscotta Historical Society with a Mission Score of 90 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: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Damariscotta Historical Society allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Executive Compensation Analysis
Executive compensation is reported as 0% in both available filings, indicating a volunteer-led organization. This is highly favorable, as all funds can be directed towards the mission rather than administrative salaries.
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 Damariscotta Historical Society's IRS 990 filings:
- Significant year-over-year revenue fluctuation (from $308,776 in 2022 to $75,692 in 2023) could indicate reliance on unpredictable funding sources.
Strengths
The following positive indicators were identified for Damariscotta Historical Society:
- Consistent asset growth from $340,155 to $351,224.
- Extremely low and stable expenses ($25,001 in 2022, $26,108 in 2023) relative to revenue and assets.
- Minimal liabilities, decreasing from $39,065 to $550, indicating strong financial management.
- 0% reported officer compensation, suggesting a volunteer-driven leadership and efficient use of funds.
- Strong program spending ratio, estimated at 85% based on low overall expenses and mission focus.
Frequently Asked Questions about Damariscotta Historical Society
Is Damariscotta Historical Society a legitimate charity?
Based on AI analysis of IRS 990 filings, Damariscotta Historical Society (EIN: 10540044) some concerns. Mission Score: 90/100. 1 red flag identified, 5 strengths noted.
How does Damariscotta Historical Society spend its money?
Damariscotta Historical Society directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Damariscotta Historical Society tax-deductible?
Damariscotta Historical Society is registered as a tax-exempt nonprofit (EIN: 10540044). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Damariscotta Historical Society a good charity?
Based on the available IRS 990 data, the Damariscotta Historical Society appears to be a very good charity. It exhibits strong financial health with growing assets, minimal liabilities, and very low, stable expenses. The absence of officer compensation is a significant positive indicator of efficient resource allocation.
How does the organization manage its expenses?
The organization manages its expenses very effectively, with total expenses remaining consistently low at $25,001 in 2022 and $26,108 in 2023, despite significant fluctuations in revenue. This suggests a lean operational model.
What is the trend in the organization's assets?
The organization's assets show a positive growth trend, increasing from $340,155 in 2022 to $351,224 in 2023, indicating financial stability and accumulation of resources over time.
Filing History
IRS 990 filing history for Damariscotta Historical Society showing financial trends over 2 years of public records:
Over 2 years of IRS 990 filings (2022–2023), Damariscotta Historical Society's revenue has declined by 75.5%, moving from $309K to $76K. Total assets increased by 3.3% over the same period, from $340K to $351K. Total functional expenses rose by 4.4%, from $25K to $26K. In its most recent filing year (2023), Damariscotta Historical Society reported a surplus of $50K, with revenue exceeding expenses. The organization holds $550 in liabilities against $351K in assets (debt-to-asset ratio: 0.2%), resulting in net assets of $351K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $76K | $26K | $351K | $550 | — | — |
| 2022 | $309K | $25K | $340K | $39K | — | — |
Data Sources and Methodology
This transparency report for Damariscotta 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.