Islesford Boat Works
Islesford Boat Works consistently operates with no reported officer compensation and healthy program spending.
EIN: 10862872 · Islesford, ME · NTEE: O50 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $93K |
| Total Expenses | $109K |
| Program Spending | 85% |
| Net Assets | $110K |
| Transparency Score | 90/100 |
Is Islesford Boat Works Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Islesford Boat Works directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Islesford Boat Works
Islesford Boat Works (EIN: 10862872) is a nonprofit organization based in Islesford, ME, classified under NTEE code O50. The organization reported total revenue of $93K and total assets of $92K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Islesford Boat Works's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Islesford Boat Works is a micro nonprofit that has been operating for 19 years, with 7 years of IRS 990 filings on record (2017–2023). Revenue has grown at a compound annual rate of 15.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $130K |
| Total Expenses | $109K |
| Surplus / Deficit | +$21K |
| Total Assets | $110K |
| Total Liabilities | $618 |
| Net Assets | $110K |
| Operating Margin | 15.8% |
| Debt-to-Asset Ratio | 0.6% |
| Months of Reserves | 12.1 months |
Financial Health Grade: A
In 2023, Islesford Boat Works reported a surplus of $21K with revenue exceeding expenses, holds 12.1 months of operating reserves (strong position), has a debt-to-asset ratio of 0.6% (very low leverage).
Financial Trends
Over 7 years of filings (2017–2023), Islesford Boat Works's revenue has grown at a compound annual growth rate (CAGR) of 15.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +27.8% | -13.4% | +23.0% |
| 2022 | +10.9% | +30.2% | -21.5% |
| 2021 | +15.4% | +34.4% | -4.6% |
| 2020 | +8.2% | +12.1% | +6.4% |
| 2019 | -55.4% | -30.8% | +7.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2007 |
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 Islesford Boat Works with a Mission Score of 90 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: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Islesford Boat Works allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% 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 $21K, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.6%.
Executive Compensation Analysis
Islesford Boat Works consistently reports 0% officer compensation across all seven available filings, indicating that no executive salaries are paid, which is highly unusual and suggests a volunteer-led or very lean operational structure for an organization of its size.
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 Islesford Boat Works:
- Consistent 0% officer compensation reported across all filings, indicating high efficiency in resource allocation.
- Healthy asset base relative to revenue, with assets of $110,166 in 2023.
- Revenues generally exceed expenses, demonstrating sound financial management (e.g., $130,027 revenue vs. $109,424 expenses in 2023).
- Low liabilities across all reporting periods, indicating minimal debt burden.
- Consistent IRS 990 filing history over seven periods, demonstrating transparency and compliance.
Frequently Asked Questions about Islesford Boat Works
Is Islesford Boat Works a legitimate charity?
Based on AI analysis of IRS 990 filings, Islesford Boat Works (EIN: 10862872) appears legitimate. Mission Score: 90/100. 0 red flags identified, 5 strengths noted.
How does Islesford Boat Works spend its money?
Islesford Boat Works directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Islesford Boat Works tax-deductible?
Islesford Boat Works is registered as a tax-exempt nonprofit (EIN: 10862872). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Islesford Boat Works's spending goes to programs?
Islesford Boat Works directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Islesford Boat Works compare to similar nonprofits?
With a transparency score of 90/100 (Excellent), Islesford Boat Works is above average for NTEE category O50 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Islesford Boat Works located?
Islesford Boat Works is headquartered in Islesford, Maine and files with the IRS under EIN 10862872. It is classified under NTEE code O50.
How many years of IRS 990 filings does Islesford Boat Works have?
Islesford Boat Works has 7 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 $93K in total revenue.
Is Islesford Boat Works a good charity?
Based on the available data, Islesford Boat Works appears to be a good charity. They consistently report 0% officer compensation, indicating that funds are not being used for executive salaries. Their revenues generally cover expenses, and they maintain a healthy asset base. This suggests efficient use of donations and a strong commitment to their mission.
How has Islesford Boat Works' revenue trended over time?
Islesford Boat Works' revenue has shown fluctuations but a general upward trend, from $55,623 in 2017 to $130,027 in 2023, with a peak of $164,680 in 2018. The latest period shows strong revenue growth.
What is the financial stability of Islesford Boat Works?
Islesford Boat Works demonstrates good financial stability. Their assets have consistently been above $89,000 since 2018, reaching $110,166 in 2023, and liabilities have remained very low, indicating a strong balance sheet and ability to cover short-term obligations.
Filing History
IRS 990 filing history for Islesford Boat Works showing financial trends over 7 years of public records:
Over 7 years of IRS 990 filings (2017–2023), Islesford Boat Works's revenue has grown by 133.8%, moving from $56K to $130K. Total assets increased by 258.7% over the same period, from $31K to $110K. Total functional expenses rose by 99.8%, from $55K to $109K. In its most recent filing year (2023), Islesford Boat Works reported a surplus of $21K, with revenue exceeding expenses. The organization holds $618 in liabilities against $110K in assets (debt-to-asset ratio: 0.6%), resulting in net assets of $110K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $130K | $109K | $110K | $618 | — | View 990 |
| 2022 | $102K | $126K | $90K | $656 | — | — |
| 2021 | $92K | $97K | $114K | $656 | — | View 990 |
| 2020 | $80K | $72K | $120K | $835 | — | — |
| 2019 | $73K | $64K | $112K | $1K | — | View 990 |
| 2018 | $165K | $93K | $104K | $2K | — | View 990 |
| 2017 | $56K | $55K | $31K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $130K, expenses of $109K, and assets of $110K (revenue +27.8% year-over-year).
- 2022: Revenue of $102K, expenses of $126K, and assets of $90K (revenue +10.9% year-over-year).
- 2021: Revenue of $92K, expenses of $97K, and assets of $114K (revenue +15.4% year-over-year).
- 2020: Revenue of $80K, expenses of $72K, and assets of $120K (revenue +8.2% year-over-year).
- 2019: Revenue of $73K, expenses of $64K, and assets of $112K (revenue -55.4% year-over-year).
- 2018: Revenue of $165K, expenses of $93K, and assets of $104K (revenue +196.1% year-over-year).
- 2017: Revenue of $56K, expenses of $55K, and assets of $31K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Islesford Boat Works:
Data Sources and Methodology
This transparency report for Islesford Boat Works 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.