Francis T & Louise T Nichols Foundation
Francis T & Louise T Nichols Foundation maintains strong asset growth and zero executive compensation.
EIN: 10493311 · Bangor, ME · NTEE: T30J · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $5.2M |
| Total Expenses | $2.4M |
| Program Spending | 95% |
| CEO/Top Officer Pay | $20 |
| Net Assets | $22.3M |
| Transparency Score | 92/100 |
Is Francis T & Louise T Nichols Foundation Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Francis T & Louise T Nichols Foundation directs 95% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Francis T & Louise T Nichols Foundation
Francis T & Louise T Nichols Foundation (EIN: 10493311) is a nonprofit organization based in Bangor, ME, classified under NTEE code T30J. The organization reported total revenue of $5.2M and total assets of $20.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Francis T & Louise T Nichols Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Francis T & Louise T Nichols Foundation is a mid-size nonprofit that has been operating for 31 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 27.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $6.1M |
| Total Expenses | $2.4M |
| Surplus / Deficit | +$3.6M |
| Total Assets | $22.3M |
| Total Liabilities | $1 |
| Net Assets | $22.3M |
| Operating Margin | 59.9% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 109.9 months |
Financial Health Grade: A
In 2023, Francis T & Louise T Nichols Foundation reported a surplus of $3.6M with revenue exceeding expenses, holds 109.9 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), Francis T & Louise T Nichols Foundation's revenue has grown at a compound annual growth rate (CAGR) of 27.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +100.2% | -0.3% | +19.1% |
| 2022 | -6.2% | -6.2% | +3.2% |
| 2021 | +84.3% | -0.7% | +3.7% |
| 2020 | -33.9% | +25.1% | -4.3% |
| 2019 | -60.5% | +25.5% | -15.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1995 |
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 Francis T & Louise T Nichols Foundation with a Mission Score of 92 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: 5%
- programs: 95%
- fundraising: 0%
According to IRS 990 filings, Francis T & Louise T Nichols Foundation allocates its expenses as follows: admin: 5%, programs: 95%, fundraising: 0%. With 95% 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 surplus of $3.6M, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that no salaries are paid to officers, which is highly efficient for an organization of its size with assets over $20 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.
Strengths
The following positive indicators were identified for Francis T & Louise T Nichols Foundation:
- Consistent asset growth, reaching $22,320,466 in 2023.
- Zero officer compensation reported across all filings, indicating high efficiency.
- Minimal liabilities ($1 in recent years), reflecting strong financial management.
- Revenue consistently exceeds expenses in most years, allowing for sustained growth and grant-making.
- Strong program spending ratio, inherent in its model as a grant-making private foundation.
Frequently Asked Questions about Francis T & Louise T Nichols Foundation
Is Francis T & Louise T Nichols Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Francis T & Louise T Nichols Foundation (EIN: 10493311) appears legitimate. Mission Score: 92/100. 0 red flags identified, 5 strengths noted.
How does Francis T & Louise T Nichols Foundation spend its money?
Francis T & Louise T Nichols Foundation directs 95% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Francis T & Louise T Nichols Foundation tax-deductible?
Francis T & Louise T Nichols Foundation is registered as a tax-exempt nonprofit (EIN: 10493311). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Francis T & Louise T Nichols Foundation CEO make?
Francis T & Louise T Nichols Foundation's highest-compensated officer earns $20 annually. The organization reported $5.2M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
How does Francis T & Louise T Nichols Foundation compare to similar nonprofits?
With a transparency score of 92/100 (Excellent), Francis T & Louise T Nichols Foundation is above average for NTEE category T30J nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Francis T & Louise T Nichols Foundation located?
Francis T & Louise T Nichols Foundation is headquartered in Bangor, Maine and files with the IRS under EIN 10493311. It is classified under NTEE code T30J.
How many years of IRS 990 filings does Francis T & Louise T Nichols Foundation have?
Francis T & Louise T Nichols Foundation has 10 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 $5.2M in total revenue.
Is the Francis T & Louise T Nichols Foundation a good charity?
Yes, based on its financial data, the foundation appears to be a very good charity. It demonstrates strong financial health with growing assets, very low administrative overhead (implied by zero officer compensation and the nature of a private foundation), and a clear focus on its mission through grant-making.
How has the foundation's financial health changed over time?
The foundation's financial health has consistently improved, with assets growing from $15,960,138 in 2011 to $22,320,466 in 2023, demonstrating robust and sustained growth.
What is the foundation's approach to executive compensation?
The foundation reports 0% officer compensation in all available filings, indicating a highly efficient model where no funds are allocated to executive salaries.
Filing History
IRS 990 filing history for Francis T & Louise T Nichols Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Francis T & Louise T Nichols Foundation's revenue has grown by 1689.5%, moving from $339K to $6.1M. Total assets increased by 39.9% over the same period, from $16.0M to $22.3M. Total functional expenses rose by 233.8%, from $730K to $2.4M. In its most recent filing year (2023), Francis T & Louise T Nichols Foundation reported a surplus of $3.6M, with revenue exceeding expenses. The organization holds $1 in liabilities against $22.3M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $22.3M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $6.1M | $2.4M | $22.3M | $1 | — | — |
| 2022 | $3.0M | $2.4M | $18.7M | $1 | — | View 990 |
| 2021 | $3.2M | $2.6M | $18.2M | $1 | — | — |
| 2020 | $1.8M | $2.6M | $17.5M | $1 | — | — |
| 2019 | $2.7M | $2.1M | $18.3M | $0 | — | View 990 |
| 2015 | $6.7M | $1.7M | $21.7M | $0 | — | View 990 |
| 2014 | $851K | $1.6M | $16.7M | $0 | — | View 990 |
| 2013 | $649K | $982K | $17.3M | $0 | — | View 990 |
| 2012 | $14.4M | $842K | $17.8M | $0 | — | View 990 |
| 2011 | $339K | $730K | $16.0M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $6.1M, expenses of $2.4M, and assets of $22.3M (revenue +100.2% year-over-year).
- 2022: Revenue of $3.0M, expenses of $2.4M, and assets of $18.7M (revenue -6.2% year-over-year).
- 2021: Revenue of $3.2M, expenses of $2.6M, and assets of $18.2M (revenue +84.3% year-over-year).
- 2020: Revenue of $1.8M, expenses of $2.6M, and assets of $17.5M (revenue -33.9% year-over-year).
- 2019: Revenue of $2.7M, expenses of $2.1M, and assets of $18.3M (revenue -60.5% year-over-year).
- 2015: Revenue of $6.7M, expenses of $1.7M, and assets of $21.7M (revenue +690.6% year-over-year).
- 2014: Revenue of $851K, expenses of $1.6M, and assets of $16.7M (revenue +31.1% year-over-year).
- 2013: Revenue of $649K, expenses of $982K, and assets of $17.3M (revenue -95.5% year-over-year).
- 2012: Revenue of $14.4M, expenses of $842K, and assets of $17.8M (revenue +4143.9% year-over-year).
- 2011: Revenue of $339K, expenses of $730K, and assets of $16.0M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Francis T & Louise T Nichols Foundation:
Data Sources and Methodology
This transparency report for Francis T & Louise T Nichols Foundation 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.