King Thomas Scholarship Tr
King Thomas Scholarship Tr consistently operates with zero liabilities and no officer compensation, dedicating resources to scholarships.
EIN: 16162280 · Ashland, ME · NTEE: B82 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $121K |
| Total Expenses | $82K |
| Program Spending | 95% |
| Net Assets | $1.5M |
| Transparency Score | 95/100 |
Is King Thomas Scholarship Tr Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
King Thomas Scholarship Tr directs 95% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About King Thomas Scholarship Tr
King Thomas Scholarship Tr (EIN: 16162280) is a nonprofit organization based in Ashland, ME, classified under NTEE code B82. The organization reported total revenue of $121K and total assets of $1.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of King Thomas Scholarship Tr's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
King Thomas Scholarship Tr is a small nonprofit that has been operating for 24 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -2.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $108K |
| Total Expenses | $82K |
| Surplus / Deficit | +$26K |
| Total Assets | $1.5M |
| Net Assets | $1.5M |
| Operating Margin | 24.1% |
| Months of Reserves | 212.9 months |
Financial Health Grade: A
In 2023, King Thomas Scholarship Tr reported a surplus of $26K with revenue exceeding expenses, holds 212.9 months of operating reserves (strong position).
Financial Trends
Over 13 years of filings (2011–2023), King Thomas Scholarship Tr's revenue has declined at a compound annual growth rate (CAGR) of -2.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +16.7% | +21.0% | -6.9% |
| 2022 | -1.1% | +44.2% | -6.8% |
| 2021 | +5.5% | -29.6% | +12.7% |
| 2020 | +0.1% | -12.4% | -6.6% |
| 2019 | +7.8% | +9.4% | +7.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 2002 |
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 King Thomas Scholarship Tr with a Mission Score of 95 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: 5%
- programs: 95%
- fundraising: 0%
According to IRS 990 filings, King Thomas Scholarship Tr allocates its expenses as follows: admin: 5%, programs: 95%, fundraising: 0%. With 95% 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 $26K, with revenue exceeding expenses.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that no salaries are paid to executives or officers, which is highly unusual for most nonprofits and suggests a volunteer-led or minimal administrative structure.
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 King Thomas Scholarship Tr's IRS 990 filings:
- Lack of detailed expense breakdown beyond total expenses (common for trusts)
Strengths
The following positive indicators were identified for King Thomas Scholarship Tr:
- Consistent zero liabilities across all filings
- No officer compensation reported, indicating high efficiency
- Strong and stable asset base (endowment) for long-term sustainability
- High percentage of expenses likely directed to program services (scholarships)
- Clear alignment with NTEE code B82 (Scholarships, Student Financial Aid)
Frequently Asked Questions about King Thomas Scholarship Tr
Is King Thomas Scholarship Tr a legitimate charity?
King Thomas Scholarship Tr (EIN: 16162280) is a registered tax-exempt nonprofit based in Maine. Our AI analysis gives it a Mission Score of 95/100. It has 13 years of IRS 990 filings on record. Total revenue: $121K. 1 red flag identified. 5 strengths noted. Financial health grade: A.
How does King Thomas Scholarship Tr spend its money?
King Thomas Scholarship Tr directs 95% of its spending to programs and services. This exceeds the 65% industry benchmark.
Are donations to King Thomas Scholarship Tr tax-deductible?
King Thomas Scholarship Tr is registered as a tax-exempt nonprofit (EIN: 16162280). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does King Thomas Scholarship Tr compare to similar nonprofits?
With a transparency score of 95/100 (Excellent), King Thomas Scholarship Tr is above average for NTEE category B82 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is King Thomas Scholarship Tr located?
King Thomas Scholarship Tr is headquartered in Ashland, Maine and files with the IRS under EIN 16162280. It is classified under NTEE code B82.
How many years of IRS 990 filings does King Thomas Scholarship Tr have?
King Thomas Scholarship Tr 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 $121K in total revenue.
How does King Thomas Scholarship Tr manage to operate with 0% officer compensation?
The consistent reporting of 0% officer compensation suggests that the organization is either entirely volunteer-run at the executive level, or that any administrative functions are handled by external, non-officer staff, or are absorbed by other entities, allowing all reported expenses to be non-compensation related.
What is the primary source of King Thomas Scholarship Tr's revenue?
While specific revenue sources are not detailed in the provided data, the consistent revenue generation and substantial asset base suggest a combination of investment income from its endowment and potentially ongoing donations, given its nature as a scholarship trust.
How has the organization's asset base changed over time?
The organization's assets have remained robust and relatively stable over the past decade, fluctuating between approximately $1.45 million (202312) and $1.77 million (201712), indicating a well-managed endowment that supports its long-term mission.
What is the typical annual scholarship disbursement amount?
Based on the reported expenses, which are likely predominantly scholarship disbursements, the organization typically expends between $47,000 (202112) and $82,000 (202312) annually, with an average around $65,000-$70,000 over the last few years.
Filing History
IRS 990 filing history for King Thomas Scholarship Tr showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), King Thomas Scholarship Tr's revenue has declined by 22%, moving from $138K to $108K. Total assets increased by 28.2% over the same period, from $1.1M to $1.5M. Total functional expenses rose by 208.9%, from $27K to $82K. In its most recent filing year (2023), King Thomas Scholarship Tr reported a surplus of $26K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $108K | $82K | $1.5M | $0 | — | View 990 |
| 2022 | $93K | $68K | $1.6M | $0 | — | — |
| 2021 | $94K | $47K | $1.7M | $0 | — | View 990 |
| 2020 | $89K | $67K | $1.5M | $0 | — | View 990 |
| 2019 | $89K | $76K | $1.6M | $0 | — | View 990 |
| 2018 | $82K | $70K | $1.5M | $0 | — | View 990 |
| 2017 | $76K | $67K | $1.8M | $0 | — | View 990 |
| 2016 | $74K | $55K | $1.7M | $0 | — | View 990 |
| 2015 | $72K | $55K | $1.5M | $0 | — | View 990 |
| 2014 | $237K | $58K | $1.4M | $0 | — | View 990 |
| 2013 | $121K | $29K | $1.3M | $0 | — | View 990 |
| 2012 | $86K | $45K | $1.2M | $0 | — | View 990 |
| 2011 | $138K | $27K | $1.1M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $108K, expenses of $82K, and assets of $1.5M (revenue +16.7% year-over-year).
- 2022: Revenue of $93K, expenses of $68K, and assets of $1.6M (revenue -1.1% year-over-year).
- 2021: Revenue of $94K, expenses of $47K, and assets of $1.7M (revenue +5.5% year-over-year).
- 2020: Revenue of $89K, expenses of $67K, and assets of $1.5M (revenue +0.1% year-over-year).
- 2019: Revenue of $89K, expenses of $76K, and assets of $1.6M (revenue +7.8% year-over-year).
- 2018: Revenue of $82K, expenses of $70K, and assets of $1.5M (revenue +8.3% year-over-year).
- 2017: Revenue of $76K, expenses of $67K, and assets of $1.8M (revenue +2.8% year-over-year).
- 2016: Revenue of $74K, expenses of $55K, and assets of $1.7M (revenue +3.2% year-over-year).
- 2015: Revenue of $72K, expenses of $55K, and assets of $1.5M (revenue -69.8% year-over-year).
- 2014: Revenue of $237K, expenses of $58K, and assets of $1.4M (revenue +95.9% year-over-year).
- 2013: Revenue of $121K, expenses of $29K, and assets of $1.3M (revenue +41.2% year-over-year).
- 2012: Revenue of $86K, expenses of $45K, and assets of $1.2M (revenue -38.1% year-over-year).
- 2011: Revenue of $138K, expenses of $27K, and assets of $1.1M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for King Thomas Scholarship Tr:
Data Sources and Methodology
This transparency report for King Thomas Scholarship Tr 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.