Halvor E Prescott Tr Fund
Halvor E Prescott Tr Fund experiences consistent operating deficits and declining assets.
EIN: 16064010 · Bangor, ME · NTEE: T22 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $21K |
| Total Expenses | $13K |
| Program Spending | 80% |
| Net Assets | $121K |
| Transparency Score | 55/100 |
Is Halvor E Prescott Tr Fund Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Halvor E Prescott Tr Fund directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Halvor E Prescott Tr Fund
Halvor E Prescott Tr Fund (EIN: 16064010) is a nonprofit organization based in Bangor, ME, classified under NTEE code T22. The organization reported total revenue of $21K and total assets of $121K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Halvor E Prescott Tr Fund's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Halvor E Prescott Tr Fund is a micro nonprofit that has been operating for 6 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -6.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $3K |
| Total Expenses | $13K |
| Surplus / Deficit | $-10,109 |
| Total Assets | $121K |
| Total Liabilities | $1 |
| Net Assets | $121K |
| Operating Margin | -346.0% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 111.1 months |
Financial Health Grade: B
In 2023, Halvor E Prescott Tr Fund reported a deficit of $10K with expenses exceeding revenue, holds 111.1 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), Halvor E Prescott Tr Fund's revenue has declined at a compound annual growth rate (CAGR) of -6.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -57.4% | -17.9% | -7.8% |
| 2022 | -59.0% | +6.1% | -6.2% |
| 2021 | +72.4% | +2.0% | +0.4% |
| 2020 | -12.6% | -13.4% | -3.4% |
| 2019 | +69.0% | +7.1% | -13.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2020 |
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 Halvor E Prescott Tr Fund with a Mission Score of 55 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: 80%
- fundraising: 0%
According to IRS 990 filings, Halvor E Prescott Tr Fund allocates its expenses as follows: admin: 20%, programs: 80%, fundraising: 0%. 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 deficit of $10K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
The organization reports 0% officer compensation across all available filings, indicating that its leadership is either entirely volunteer-based or compensated through other means not reported as officer compensation, which is common for small trusts or foundations.
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 Halvor E Prescott Tr Fund's IRS 990 filings:
- Consistent operating deficits (expenses exceeding revenue in most years, e.g., 2023: $13,031 expenses vs. $2,922 revenue).
- Declining asset base over time (from $166,376 in 2015 to $120,597 currently).
- Lack of detailed expense breakdown in provided data makes efficiency analysis challenging.
Strengths
The following positive indicators were identified for Halvor E Prescott Tr Fund:
- No reported officer compensation, suggesting volunteer leadership or efficient management.
- Low liabilities across all reported periods ($0-$1), indicating good financial control over debt.
Frequently Asked Questions about Halvor E Prescott Tr Fund
Is Halvor E Prescott Tr Fund a legitimate charity?
Halvor E Prescott Tr Fund (EIN: 16064010) is a registered tax-exempt nonprofit based in Maine. Our AI analysis gives it a Mission Score of 55/100. It has 10 years of IRS 990 filings on record. Total revenue: $21K. 3 red flags identified. 2 strengths noted. Financial health grade: B.
How does Halvor E Prescott Tr Fund spend its money?
Halvor E Prescott Tr Fund directs 80% of its spending to programs and services. This exceeds the 65% industry benchmark.
Are donations to Halvor E Prescott Tr Fund tax-deductible?
Halvor E Prescott Tr Fund is registered as a tax-exempt nonprofit (EIN: 16064010). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Halvor E Prescott Tr Fund compare to similar nonprofits?
With a transparency score of 55/100 (Fair), Halvor E Prescott Tr Fund is near average for NTEE category T22 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Halvor E Prescott Tr Fund located?
Halvor E Prescott Tr Fund is headquartered in Bangor, Maine and files with the IRS under EIN 16064010. It is classified under NTEE code T22.
How many years of IRS 990 filings does Halvor E Prescott Tr Fund have?
Halvor E Prescott Tr Fund 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 $21K in total revenue.
What are the specific program activities funded by the Halvor E Prescott Tr Fund?
The provided data does not detail specific program activities or grants made by the fund. Further investigation into the 990-PF (if applicable) or other public records would be needed to understand its grantmaking focus.
Why are expenses consistently higher than revenue?
The consistent pattern of expenses exceeding revenue (e.g., $13,031 expenses vs. $2,922 revenue in 2023) suggests the fund is either spending down its principal or relying on investment gains that are not consistently realized as revenue in the reported periods, leading to asset depletion.
What is the long-term sustainability plan given the declining assets?
With assets decreasing from $166,376 in 2015 to $120,597 currently, the fund's long-term sustainability is questionable if the current spending patterns continue without a significant increase in revenue or a reduction in expenses.
Filing History
IRS 990 filing history for Halvor E Prescott Tr Fund showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Halvor E Prescott Tr Fund's revenue has declined by 55.8%, moving from $7K to $3K. Total assets decreased by 26% over the same period, from $163K to $121K. Total functional expenses fell by 30%, from $19K to $13K. In its most recent filing year (2023), Halvor E Prescott Tr Fund reported a deficit of $10K, with expenses exceeding revenue. The organization holds $1 in liabilities against $121K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $121K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $3K | $13K | $121K | $1 | — | — |
| 2022 | $7K | $16K | $131K | $1 | — | View 990 |
| 2021 | $17K | $15K | $139K | $1 | — | — |
| 2020 | $10K | $15K | $139K | $1 | — | — |
| 2019 | $11K | $17K | $144K | $0 | — | View 990 |
| 2015 | $7K | $16K | $166K | $0 | — | View 990 |
| 2014 | $24K | $15K | $175K | $0 | — | View 990 |
| 2013 | $12K | $12K | $166K | $0 | — | View 990 |
| 2012 | $15K | $11K | $166K | $0 | — | View 990 |
| 2011 | $7K | $19K | $163K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $3K, expenses of $13K, and assets of $121K (revenue -57.4% year-over-year).
- 2022: Revenue of $7K, expenses of $16K, and assets of $131K (revenue -59.0% year-over-year).
- 2021: Revenue of $17K, expenses of $15K, and assets of $139K (revenue +72.4% year-over-year).
- 2020: Revenue of $10K, expenses of $15K, and assets of $139K (revenue -12.6% year-over-year).
- 2019: Revenue of $11K, expenses of $17K, and assets of $144K (revenue +69.0% year-over-year).
- 2015: Revenue of $7K, expenses of $16K, and assets of $166K (revenue -72.2% year-over-year).
- 2014: Revenue of $24K, expenses of $15K, and assets of $175K (revenue +89.4% year-over-year).
- 2013: Revenue of $12K, expenses of $12K, and assets of $166K (revenue -15.1% year-over-year).
- 2012: Revenue of $15K, expenses of $11K, and assets of $166K (revenue +121.6% year-over-year).
- 2011: Revenue of $7K, expenses of $19K, and assets of $163K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Halvor E Prescott Tr Fund:
Data Sources and Methodology
This transparency report for Halvor E Prescott Tr Fund 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.