L Thornburg Tr Fbo Goodall Mem Lib Tr 6130829230
L Thornburg Trust consistently spends more than its annual revenue, relying on asset base for operations.
EIN: 16011398 · Portland, ME · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $185K |
| Total Expenses | $23K |
| Program Spending | 80% |
| Net Assets | $351K |
| Transparency Score | 75/100 |
Is L Thornburg Tr Fbo Goodall Mem Lib Tr 6130829230 Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
L Thornburg Tr Fbo Goodall Mem Lib Tr 6130829230 directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About L Thornburg Tr Fbo Goodall Mem Lib Tr 6130829230
L Thornburg Tr Fbo Goodall Mem Lib Tr 6130829230 (EIN: 16011398) is a nonprofit organization based in Portland, ME. The organization reported total revenue of $185K and total assets of $379K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of L Thornburg Tr Fbo Goodall Mem Lib Tr 6130829230's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
L Thornburg Tr Fbo Goodall Mem Lib Tr 6130829230 is a small nonprofit that has been operating for 49 years, with 9 years of IRS 990 filings on record (2012–2023). Revenue has grown at a compound annual rate of -17.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $11K |
| Total Expenses | $23K |
| Surplus / Deficit | $-12,110 |
| Total Assets | $351K |
| Total Liabilities | $1 |
| Net Assets | $351K |
| Operating Margin | -112.9% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 184.5 months |
Financial Health Grade: B
In 2023, L Thornburg Tr Fbo Goodall Mem Lib Tr 6130829230 reported a deficit of $12K with expenses exceeding revenue, holds 184.5 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 9 years of filings (2012–2023), L Thornburg Tr Fbo Goodall Mem Lib Tr 6130829230's revenue has declined at a compound annual growth rate (CAGR) of -17.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -77.1% | +8.3% | -3.4% |
| 2022 | +41.7% | +16.3% | +7.6% |
| 2021 | +469.2% | +4.8% | +4.6% |
| 2020 | -46.4% | -1.8% | +25.4% |
| 2016 | -31.3% | +3.8% | -2.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1977 |
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 L Thornburg Tr Fbo Goodall Mem Lib Tr 6130829230 with a Mission Score of 75 out of 100 (Good). 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, L Thornburg Tr Fbo Goodall Mem Lib Tr 6130829230 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 deficit of $12K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that the organization's leadership is either entirely volunteer-based or compensated through other means not classified as officer compensation, which is a positive 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 L Thornburg Tr Fbo Goodall Mem Lib Tr 6130829230's IRS 990 filings:
- Consistent annual expenses exceeding revenue, indicating reliance on asset drawdowns or prior surpluses.
- Lack of detailed NTEE code, making it difficult to benchmark against similar organizations.
Strengths
The following positive indicators were identified for L Thornburg Tr Fbo Goodall Mem Lib Tr 6130829230:
- Consistent asset growth over the past decade, from $275,941 in 2012 to $351,051 in 2023.
- Zero reported officer compensation, indicating efficient use of funds for mission or volunteer leadership.
- Extremely low liabilities, consistently $0 or $1, demonstrating strong financial stability and low debt.
- Long filing history (9 filings), suggesting consistent compliance and operational longevity.
Frequently Asked Questions about L Thornburg Tr Fbo Goodall Mem Lib Tr 6130829230
Is L Thornburg Tr Fbo Goodall Mem Lib Tr 6130829230 a legitimate charity?
L Thornburg Tr Fbo Goodall Mem Lib Tr 6130829230 (EIN: 16011398) is a registered tax-exempt nonprofit based in Maine. Our AI analysis gives it a Mission Score of 75/100. It has 9 years of IRS 990 filings on record. Total revenue: $185K. 2 red flags identified. 4 strengths noted. Financial health grade: B.
How does L Thornburg Tr Fbo Goodall Mem Lib Tr 6130829230 spend its money?
L Thornburg Tr Fbo Goodall Mem Lib Tr 6130829230 directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to L Thornburg Tr Fbo Goodall Mem Lib Tr 6130829230 tax-deductible?
L Thornburg Tr Fbo Goodall Mem Lib Tr 6130829230 is registered as a tax-exempt nonprofit (EIN: 16011398). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of L Thornburg Tr Fbo Goodall Mem Lib Tr 6130829230's spending goes to programs?
L Thornburg Tr Fbo Goodall Mem Lib Tr 6130829230 directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is L Thornburg Tr Fbo Goodall Mem Lib Tr 6130829230 located?
L Thornburg Tr Fbo Goodall Mem Lib Tr 6130829230 is headquartered in Portland, Maine and files with the IRS under EIN 16011398.
How many years of IRS 990 filings does L Thornburg Tr Fbo Goodall Mem Lib Tr 6130829230 have?
L Thornburg Tr Fbo Goodall Mem Lib Tr 6130829230 has 9 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 $185K in total revenue.
How does L Thornburg Tr Fbo Goodall Mem Lib Tr cover its consistent revenue shortfalls?
The organization likely covers its operational deficits, such as the $12,110 gap in 2023 (Expenses $22,836 - Revenue $10,726), by drawing from its accumulated assets, which have grown over time from $275,941 in 2012 to $351,051 in 2023.
What is the primary source of the organization's revenue?
While specific sources are not detailed in the provided data, the fluctuating revenue (e.g., $83,062 in 2012 vs. $5,797 in 2020) suggests reliance on investment income, grants, or sporadic larger donations rather than consistent program service fees.
Is the organization's asset growth sustainable given its spending patterns?
The organization's assets have grown despite frequent annual deficits, suggesting that investment returns or significant one-time contributions in certain years (like 2012 and 2022) have offset operational spending. However, sustained deficits without corresponding asset growth could become a concern long-term.
Filing History
IRS 990 filing history for L Thornburg Tr Fbo Goodall Mem Lib Tr 6130829230 showing financial trends over 9 years of public records:
Over 9 years of IRS 990 filings (2012–2023), L Thornburg Tr Fbo Goodall Mem Lib Tr 6130829230's revenue has declined by 87.1%, moving from $83K to $11K. Total assets increased by 27.2% over the same period, from $276K to $351K. Total functional expenses rose by 119.3%, from $10K to $23K. In its most recent filing year (2023), L Thornburg Tr Fbo Goodall Mem Lib Tr 6130829230 reported a deficit of $12K, with expenses exceeding revenue. The organization holds $1 in liabilities against $351K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $351K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $11K | $23K | $351K | $1 | — | View 990 |
| 2022 | $47K | $21K | $363K | $1 | — | View 990 |
| 2021 | $33K | $18K | $338K | $1 | — | — |
| 2020 | $6K | $17K | $323K | $1 | — | View 990 |
| 2016 | $11K | $18K | $257K | $0 | — | View 990 |
| 2015 | $16K | $17K | $264K | $0 | — | View 990 |
| 2014 | $11K | $15K | $265K | $0 | — | View 990 |
| 2013 | $11K | $17K | $269K | $0 | — | View 990 |
| 2012 | $83K | $10K | $276K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $11K, expenses of $23K, and assets of $351K (revenue -77.1% year-over-year).
- 2022: Revenue of $47K, expenses of $21K, and assets of $363K (revenue +41.7% year-over-year).
- 2021: Revenue of $33K, expenses of $18K, and assets of $338K (revenue +469.2% year-over-year).
- 2020: Revenue of $6K, expenses of $17K, and assets of $323K (revenue -46.4% year-over-year).
- 2016: Revenue of $11K, expenses of $18K, and assets of $257K (revenue -31.3% year-over-year).
- 2015: Revenue of $16K, expenses of $17K, and assets of $264K (revenue +42.7% year-over-year).
- 2014: Revenue of $11K, expenses of $15K, and assets of $265K (revenue +4.4% year-over-year).
- 2013: Revenue of $11K, expenses of $17K, and assets of $269K (revenue -87.3% year-over-year).
- 2012: Revenue of $83K, expenses of $10K, and assets of $276K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for L Thornburg Tr Fbo Goodall Mem Lib Tr 6130829230:
Data Sources and Methodology
This transparency report for L Thornburg Tr Fbo Goodall Mem Lib Tr 6130829230 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.