Gerald Oday Tr Fbo Penobscot
Gerald Oday Tr Fbo Penobscot experiences consistent asset decline due to expenses exceeding revenue.
EIN: 16117997 · Bangor, ME · NTEE: T21 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $28K |
| Total Expenses | $23K |
| Program Spending | 90% |
| Net Assets | $222K |
| Transparency Score | 65/100 |
Is Gerald Oday Tr Fbo Penobscot Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Gerald Oday Tr Fbo Penobscot directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Gerald Oday Tr Fbo Penobscot
Gerald Oday Tr Fbo Penobscot (EIN: 16117997) is a nonprofit organization based in Bangor, ME, classified under NTEE code T21. The organization reported total revenue of $28K and total assets of $216K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Gerald Oday Tr Fbo Penobscot's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Gerald Oday Tr Fbo Penobscot is a micro nonprofit that has been operating for 15 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -4.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $16K |
| Total Expenses | $23K |
| Surplus / Deficit | $-7,369 |
| Total Assets | $222K |
| Total Liabilities | $1 |
| Net Assets | $222K |
| Operating Margin | -46.9% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 115.5 months |
Financial Health Grade: B
In 2023, Gerald Oday Tr Fbo Penobscot reported a deficit of $7K with expenses exceeding revenue, holds 115.5 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), Gerald Oday Tr Fbo Penobscot's revenue has declined at a compound annual growth rate (CAGR) of -4.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +364.2% | +60.6% | -3.2% |
| 2022 | -70.4% | +3.5% | -4.6% |
| 2021 | +6.0% | -18.2% | -1.0% |
| 2020 | +8.4% | +4.5% | -2.5% |
| 2019 | -7.0% | +2.5% | -11.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2011 |
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 Gerald Oday Tr Fbo Penobscot 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: 10%
- programs: 90%
- fundraising: 0%
According to IRS 990 filings, Gerald Oday Tr Fbo Penobscot allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. With 90% 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 $7K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that no officers receive salaries from the organization. This is a positive sign for a small trust, suggesting resources are not diverted to high 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 Gerald Oday Tr Fbo Penobscot's IRS 990 filings:
- Consistent net losses leading to asset depletion (e.g., $23,072 expenses vs. $15,703 revenue in 2023)
- Significant decline in assets over time (from $280,073 in 2015 to $222,106 in 2023)
Strengths
The following positive indicators were identified for Gerald Oday Tr Fbo Penobscot:
- Consistent 990 filing history demonstrating transparency
- Zero officer compensation reported across all filings, indicating low administrative overhead in this area
- Minimal liabilities reported ($0 or $1 across all filings)
Frequently Asked Questions about Gerald Oday Tr Fbo Penobscot
Is Gerald Oday Tr Fbo Penobscot a legitimate charity?
Based on AI analysis of IRS 990 filings, Gerald Oday Tr Fbo Penobscot (EIN: 16117997) some concerns. Mission Score: 65/100. 2 red flags identified, 3 strengths noted.
How does Gerald Oday Tr Fbo Penobscot spend its money?
Gerald Oday Tr Fbo Penobscot directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Gerald Oday Tr Fbo Penobscot tax-deductible?
Gerald Oday Tr Fbo Penobscot is registered as a tax-exempt nonprofit (EIN: 16117997). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Gerald Oday Tr Fbo Penobscot compare to similar nonprofits?
With a transparency score of 65/100 (Good), Gerald Oday Tr Fbo Penobscot is above average for NTEE category T21 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Gerald Oday Tr Fbo Penobscot located?
Gerald Oday Tr Fbo Penobscot is headquartered in Bangor, Maine and files with the IRS under EIN 16117997. It is classified under NTEE code T21.
How many years of IRS 990 filings does Gerald Oday Tr Fbo Penobscot have?
Gerald Oday Tr Fbo Penobscot 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 $28K in total revenue.
Is Gerald Oday Tr Fbo Penobscot a good charity?
As a private grantmaking foundation (NTEE T21), its 'goodness' is measured by its grantmaking impact, which isn't detailed here. Financially, it's drawing down assets, but it maintains transparency with consistent 990 filings and zero officer compensation.
Why are assets declining?
Assets are declining because, in most recent years (e.g., 2023, 2022, 2021, 2020, 2019), the organization's expenses have exceeded its revenue. For instance, in 2023, expenses were $23,072 while revenue was $15,703, leading to a net loss and asset reduction.
What is the primary purpose of this organization?
Based on its NTEE code T21 (Private Grantmaking Foundations), its primary purpose is likely to provide grants to other organizations or individuals, specifically 'Fbo Penobscot' as indicated in its name.
Filing History
IRS 990 filing history for Gerald Oday Tr Fbo Penobscot showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Gerald Oday Tr Fbo Penobscot's revenue has declined by 44%, moving from $28K to $16K. Total assets decreased by 14.9% over the same period, from $261K to $222K. Total functional expenses rose by 52.3%, from $15K to $23K. In its most recent filing year (2023), Gerald Oday Tr Fbo Penobscot reported a deficit of $7K, with expenses exceeding revenue. The organization holds $1 in liabilities against $222K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $222K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $16K | $23K | $222K | $1 | — | — |
| 2022 | $3K | $14K | $229K | $1 | — | — |
| 2021 | $11K | $14K | $240K | $1 | — | — |
| 2020 | $11K | $17K | $243K | $1 | — | — |
| 2019 | $10K | $16K | $249K | $0 | — | View 990 |
| 2015 | $11K | $16K | $280K | $0 | — | View 990 |
| 2014 | $5K | $19K | $286K | $0 | — | View 990 |
| 2013 | $43K | $15K | $293K | $0 | — | View 990 |
| 2012 | $23K | $18K | $265K | $0 | — | View 990 |
| 2011 | $28K | $15K | $261K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $16K, expenses of $23K, and assets of $222K (revenue +364.2% year-over-year).
- 2022: Revenue of $3K, expenses of $14K, and assets of $229K (revenue -70.4% year-over-year).
- 2021: Revenue of $11K, expenses of $14K, and assets of $240K (revenue +6.0% year-over-year).
- 2020: Revenue of $11K, expenses of $17K, and assets of $243K (revenue +8.4% year-over-year).
- 2019: Revenue of $10K, expenses of $16K, and assets of $249K (revenue -7.0% year-over-year).
- 2015: Revenue of $11K, expenses of $16K, and assets of $280K (revenue +118.5% year-over-year).
- 2014: Revenue of $5K, expenses of $19K, and assets of $286K (revenue -88.6% year-over-year).
- 2013: Revenue of $43K, expenses of $15K, and assets of $293K (revenue +89.7% year-over-year).
- 2012: Revenue of $23K, expenses of $18K, and assets of $265K (revenue -19.2% year-over-year).
- 2011: Revenue of $28K, expenses of $15K, and assets of $261K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Gerald Oday Tr Fbo Penobscot:
Data Sources and Methodology
This transparency report for Gerald Oday Tr Fbo Penobscot 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.