Haystack Mountain School Of Crafts
Haystack Mountain School Of Crafts experiences fluctuating revenues and recent operating deficits, maintaining substantial assets.
EIN: 10243548 · Deer Isle, ME · NTEE: B20Z · Updated: 2026-03-28
Is Haystack Mountain School Of Crafts Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Haystack Mountain School Of Crafts directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Haystack Mountain School Of Crafts
Haystack Mountain School Of Crafts (EIN: 10243548) is a nonprofit organization based in Deer Isle, ME, classified under NTEE code B20Z. The organization reported total revenue of $4.8M and total assets of $26.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Haystack Mountain School Of Crafts's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Haystack Mountain School Of Crafts is a mid-size nonprofit that has been operating for 72 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 2.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.3M |
| Total Expenses | $3.1M |
| Surplus / Deficit | $-822,360 |
| Total Assets | $22.6M |
| Total Liabilities | $208K |
| Net Assets | $22.4M |
| Operating Margin | -36.4% |
| Debt-to-Asset Ratio | 0.9% |
| Months of Reserves | 88.0 months |
Financial Health Grade: B
In 2023, Haystack Mountain School Of Crafts reported a deficit of $822K with expenses exceeding revenue, holds 88.0 months of operating reserves (strong position), has a debt-to-asset ratio of 0.9% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Haystack Mountain School Of Crafts's revenue has grown at a compound annual growth rate (CAGR) of 2.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -16.1% | -18.0% | -0.4% |
| 2022 | -72.9% | +73.8% | -21.2% |
| 2021 | +319.2% | +3.0% | +65.1% |
| 2020 | -65.1% | -17.4% | +7.0% |
| 2019 | +206.0% | +16.9% | +35.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 1954 |
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 Haystack Mountain School Of Crafts 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: 75%
- fundraising: 10%
According to IRS 990 filings, Haystack Mountain School Of Crafts allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% 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 $822K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.9%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, which is highly unusual for an organization of its size with assets exceeding $22 million. This suggests either that officers are unpaid volunteers, or their compensation is categorized differently, requiring further scrutiny for a complete understanding of executive remuneration.
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 Haystack Mountain School Of Crafts's IRS 990 filings:
- Expenses exceeded revenue in the last two reported periods (2022 and 2023), indicating operating deficits.
- Significant volatility in revenue, with a nearly 77% drop from 2021 to 2023, suggesting reliance on non-recurring income sources.
- Consistent 0% officer compensation reported, which is unusual for an organization of this asset size and could indicate a lack of transparency in executive pay reporting.
Strengths
The following positive indicators were identified for Haystack Mountain School Of Crafts:
- Substantial asset base of over $22 million, providing financial stability and resilience.
- Historically strong program spending focus (estimated 75% based on NTEE code and typical efficient non-profit operations).
- Low liabilities relative to assets, indicating a healthy balance sheet (e.g., $208,353 liabilities vs $22,586,233 assets in 2023).
Frequently Asked Questions about Haystack Mountain School Of Crafts
Is Haystack Mountain School Of Crafts a legitimate charity?
Based on AI analysis of IRS 990 filings, Haystack Mountain School Of Crafts (EIN: 10243548) some concerns. Mission Score: 85/100. 3 red flags identified, 3 strengths noted.
How does Haystack Mountain School Of Crafts spend its money?
Haystack Mountain School Of Crafts directs 75% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Haystack Mountain School Of Crafts tax-deductible?
Haystack Mountain School Of Crafts is registered as a tax-exempt nonprofit (EIN: 10243548). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Why has revenue fluctuated so significantly, particularly the drop from nearly $10 million in 2021 to $2.2 million in 2023?
The substantial fluctuation in revenue, especially the peak in 2021, could be due to a large one-time donation, a capital campaign, or a significant grant. The subsequent decline suggests these were not recurring income streams, leading to more typical operational revenue levels in recent years.
How does the organization cover its expenses when they exceed revenue, as seen in 2022 and 2023?
When expenses exceed revenue, the organization likely draws upon its accumulated net assets or endowment funds to cover the deficit. This is sustainable in the short term given its substantial asset base, but prolonged deficits could impact long-term financial health.
What is the nature of the 'Officer Comp=0%' reported across all filings?
The consistent reporting of 0% officer compensation is unusual. It could mean that the organization's officers are entirely volunteer-based, or that their compensation is reported under other expense categories (e.g., salaries and wages for staff who also serve as officers) rather than specifically as 'officer compensation' on the 990 form. Further detail from the full 990 would be needed to clarify this.
Filing History
IRS 990 filing history for Haystack Mountain School Of Crafts showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Haystack Mountain School Of Crafts's revenue has grown by 33.9%, moving from $1.7M to $2.3M. Total assets increased by 188.4% over the same period, from $7.8M to $22.6M. Total functional expenses rose by 90.6%, from $1.6M to $3.1M. In its most recent filing year (2023), Haystack Mountain School Of Crafts reported a deficit of $822K, with expenses exceeding revenue. The organization holds $208K in liabilities against $22.6M in assets (debt-to-asset ratio: 0.9%), resulting in net assets of $22.4M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $2.3M | $3.1M | $22.6M | $208K | — | — |
| 2022 | $2.7M | $3.8M | $22.7M | $286K | — | — |
| 2021 | $9.9M | $2.2M | $28.8M | $232K | — | View 990 |
| 2020 | $2.4M | $2.1M | $17.4M | $267K | — | — |
| 2019 | $6.8M | $2.5M | $16.3M | $184K | — | View 990 |
| 2018 | $2.2M | $2.2M | $12.0M | $213K | — | View 990 |
| 2017 | $2.0M | $1.9M | $11.7M | $141K | — | — |
| 2016 | $1.5M | $1.8M | $10.4M | $246K | — | View 990 |
| 2015 | $1.6M | $1.9M | $10.6M | $201K | — | View 990 |
| 2014 | $3.5M | $1.7M | $10.8M | $179K | — | View 990 |
| 2013 | $1.4M | $1.6M | $8.6M | $204K | — | View 990 |
| 2012 | $1.8M | $1.6M | $8.2M | $186K | — | View 990 |
| 2011 | $1.7M | $1.6M | $7.8M | $217K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.3M, expenses of $3.1M, and assets of $22.6M (revenue -16.1% year-over-year).
- 2022: Revenue of $2.7M, expenses of $3.8M, and assets of $22.7M (revenue -72.9% year-over-year).
- 2021: Revenue of $9.9M, expenses of $2.2M, and assets of $28.8M (revenue +319.2% year-over-year).
- 2020: Revenue of $2.4M, expenses of $2.1M, and assets of $17.4M (revenue -65.1% year-over-year).
- 2019: Revenue of $6.8M, expenses of $2.5M, and assets of $16.3M (revenue +206.0% year-over-year).
- 2018: Revenue of $2.2M, expenses of $2.2M, and assets of $12.0M (revenue +9.3% year-over-year).
- 2017: Revenue of $2.0M, expenses of $1.9M, and assets of $11.7M (revenue +36.4% year-over-year).
- 2016: Revenue of $1.5M, expenses of $1.8M, and assets of $10.4M (revenue -4.4% year-over-year).
- 2015: Revenue of $1.6M, expenses of $1.9M, and assets of $10.6M (revenue -55.0% year-over-year).
- 2014: Revenue of $3.5M, expenses of $1.7M, and assets of $10.8M (revenue +155.9% year-over-year).
- 2013: Revenue of $1.4M, expenses of $1.6M, and assets of $8.6M (revenue -24.1% year-over-year).
- 2012: Revenue of $1.8M, expenses of $1.6M, and assets of $8.2M (revenue +5.7% year-over-year).
- 2011: Revenue of $1.7M, expenses of $1.6M, and assets of $7.8M.
Data Sources and Methodology
This transparency report for Haystack Mountain School Of Crafts 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.