Grindstone Association
Grindstone Association shows strong financial growth and consistent surpluses with no reported officer compensation.
EIN: 10202445 · Winter Harbor, ME · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $919K |
| Total Expenses | $499K |
| Program Spending | 80% |
| Net Assets | $5.8M |
| Transparency Score | 85/100 |
Is Grindstone Association Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Grindstone Association directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Grindstone Association
Grindstone Association (EIN: 10202445) is a nonprofit organization based in Winter Harbor, ME. The organization reported total revenue of $919K and total assets of $6.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Grindstone Association's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Grindstone Association is a small nonprofit that has been operating for 30 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 11.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.4M |
| Total Expenses | $499K |
| Surplus / Deficit | +$918K |
| Total Assets | $5.8M |
| Total Liabilities | $6K |
| Net Assets | $5.8M |
| Operating Margin | 64.8% |
| Debt-to-Asset Ratio | 0.1% |
| Months of Reserves | 140.2 months |
Financial Health Grade: A
In 2023, Grindstone Association reported a surplus of $918K with revenue exceeding expenses, holds 140.2 months of operating reserves (strong position), has a debt-to-asset ratio of 0.1% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Grindstone Association's revenue has grown at a compound annual growth rate (CAGR) of 11.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +110.3% | -4.5% | +35.4% |
| 2022 | -0.5% | +9.9% | -13.0% |
| 2021 | +76.2% | +18.7% | +13.9% |
| 2020 | -20.1% | -3.6% | +14.4% |
| 2019 | -16.4% | +3.0% | +10.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1996 |
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 Grindstone Association 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, Grindstone Association 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 surplus of $918K, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.1%.
Executive Compensation Analysis
The Grindstone Association has consistently reported 0% officer compensation across all available filings, indicating a volunteer-led executive structure or that compensation falls below reporting thresholds, which is highly favorable for resource allocation.
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 Grindstone Association's IRS 990 filings:
- NTEE Code is unknown, which can make it harder to understand the organization's specific mission and compare it to peers.
- A notable increase in liabilities from $16,697 in 2022 to $5,516 in 2023, while still low relative to assets, warrants further investigation into its nature.
Strengths
The following positive indicators were identified for Grindstone Association:
- Strong financial growth, with assets increasing from $3.2M in 2014 to $5.8M in 2023.
- Consistent revenue generation, with a significant surplus in most years, notably $1,416,740 revenue against $499,086 expenses in 2023.
- No reported officer compensation across all filings, indicating efficient use of funds and potentially volunteer leadership.
- Low liabilities relative to assets, suggesting good financial management and solvency.
- Consistent filing history (13 filings) demonstrates good transparency and compliance.
Frequently Asked Questions about Grindstone Association
Is Grindstone Association a legitimate charity?
Based on AI analysis of IRS 990 filings, Grindstone Association (EIN: 10202445) some concerns. Mission Score: 85/100. 2 red flags identified, 5 strengths noted.
How does Grindstone Association spend its money?
Grindstone Association directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Grindstone Association tax-deductible?
Grindstone Association is registered as a tax-exempt nonprofit (EIN: 10202445). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Grindstone Association's spending goes to programs?
Grindstone Association directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Grindstone Association located?
Grindstone Association is headquartered in Winter Harbor, Maine and files with the IRS under EIN 10202445.
How many years of IRS 990 filings does Grindstone Association have?
Grindstone Association has 13 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 $919K in total revenue.
Is Grindstone Association a good charity?
Based on the available financial data, Grindstone Association appears to be a financially healthy organization with strong revenue generation, consistent asset growth (from $3.2M in 2014 to $5.8M in 2023), and no reported officer compensation, suggesting efficient use of funds. However, a detailed breakdown of program spending versus administrative and fundraising costs would provide a more complete picture of its charitable effectiveness.
How has Grindstone Association's financial health changed over time?
The organization has shown significant financial growth. Revenue has fluctuated but generally trended upwards, with a peak of $1,416,740 in 2023. Assets have steadily increased from $3,236,207 in 2014 to $5,832,293 in 2023, demonstrating strong financial stability and accumulation of resources.
What is the organization's approach to executive compensation?
Grindstone Association consistently reports 0% officer compensation in all available IRS 990 filings, indicating that its leadership either serves on a volunteer basis or receives compensation below the IRS reporting threshold, which is a positive sign for minimizing overhead.
Filing History
IRS 990 filing history for Grindstone Association showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Grindstone Association's revenue has grown by 260%, moving from $394K to $1.4M. Total assets increased by 138.9% over the same period, from $2.4M to $5.8M. Total functional expenses rose by 56.3%, from $319K to $499K. In its most recent filing year (2023), Grindstone Association reported a surplus of $918K, with revenue exceeding expenses. The organization holds $6K in liabilities against $5.8M in assets (debt-to-asset ratio: 0.1%), resulting in net assets of $5.8M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.4M | $499K | $5.8M | $6K | — | View 990 |
| 2022 | $674K | $522K | $4.3M | $17K | — | View 990 |
| 2021 | $677K | $476K | $4.9M | $27K | — | View 990 |
| 2020 | $384K | $401K | $4.3M | $3K | — | — |
| 2019 | $481K | $415K | $3.8M | $10K | — | View 990 |
| 2018 | $575K | $403K | $3.4M | $33K | — | View 990 |
| 2017 | $480K | $421K | $3.6M | $9K | — | View 990 |
| 2016 | $409K | $385K | $3.3M | $27K | — | View 990 |
| 2015 | $633K | $435K | $3.2M | $99K | — | View 990 |
| 2014 | $409K | $358K | $3.2M | $5K | — | View 990 |
| 2013 | $414K | $321K | $3.0M | $6K | — | View 990 |
| 2012 | $393K | $313K | $2.6M | $1K | — | View 990 |
| 2011 | $394K | $319K | $2.4M | $11K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.4M, expenses of $499K, and assets of $5.8M (revenue +110.3% year-over-year).
- 2022: Revenue of $674K, expenses of $522K, and assets of $4.3M (revenue -0.5% year-over-year).
- 2021: Revenue of $677K, expenses of $476K, and assets of $4.9M (revenue +76.2% year-over-year).
- 2020: Revenue of $384K, expenses of $401K, and assets of $4.3M (revenue -20.1% year-over-year).
- 2019: Revenue of $481K, expenses of $415K, and assets of $3.8M (revenue -16.4% year-over-year).
- 2018: Revenue of $575K, expenses of $403K, and assets of $3.4M (revenue +19.9% year-over-year).
- 2017: Revenue of $480K, expenses of $421K, and assets of $3.6M (revenue +17.3% year-over-year).
- 2016: Revenue of $409K, expenses of $385K, and assets of $3.3M (revenue -35.4% year-over-year).
- 2015: Revenue of $633K, expenses of $435K, and assets of $3.2M (revenue +54.7% year-over-year).
- 2014: Revenue of $409K, expenses of $358K, and assets of $3.2M (revenue -1.0% year-over-year).
- 2013: Revenue of $414K, expenses of $321K, and assets of $3.0M (revenue +5.3% year-over-year).
- 2012: Revenue of $393K, expenses of $313K, and assets of $2.6M (revenue -0.2% year-over-year).
- 2011: Revenue of $394K, expenses of $319K, and assets of $2.4M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Grindstone Association:
Data Sources and Methodology
This transparency report for Grindstone Association 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.