Maxwell K Murphy Scholarship Fund
Maxwell K Murphy Scholarship Fund consistently operates with volunteer leadership, slowly drawing down assets to support scholarships.
EIN: 16029987 · Ellsworth, ME · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $7K |
| Total Expenses | $2K |
| Program Spending | 90% |
| Net Assets | $24K |
| Transparency Score | 85/100 |
Is Maxwell K Murphy Scholarship Fund Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Maxwell K Murphy Scholarship Fund directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Maxwell K Murphy Scholarship Fund
Maxwell K Murphy Scholarship Fund (EIN: 16029987) is a nonprofit organization based in Ellsworth, ME. The organization reported total revenue of $7K and total assets of $25K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Maxwell K Murphy Scholarship Fund's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Maxwell K Murphy Scholarship Fund is a micro nonprofit that has been operating for 57 years, with 7 years of IRS 990 filings on record (2011–2020). Revenue has grown at a compound annual rate of -8.9%.
Key Financial Metrics (2020)
From the most recent IRS 990 filing on record:
| Total Revenue | $1K |
| Total Expenses | $2K |
| Surplus / Deficit | $-862 |
| Total Assets | $24K |
| Total Liabilities | $1 |
| Net Assets | $24K |
| Operating Margin | -68.5% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 135.3 months |
Financial Health Grade: B
In 2020, Maxwell K Murphy Scholarship Fund reported a deficit of $862 with expenses exceeding revenue, holds 135.3 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 7 years of filings (2011–2020), Maxwell K Murphy Scholarship Fund's revenue has declined at a compound annual growth rate (CAGR) of -8.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2020 | +20.5% | +21.2% | -3.5% |
| 2019 | -2.3% | +466.3% | -15.0% |
| 2014 | -118.7% | -2.3% | -7.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 1969 |
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 Maxwell K Murphy Scholarship Fund 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: 10%
- programs: 90%
- fundraising: 0%
According to IRS 990 filings, Maxwell K Murphy Scholarship Fund allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2020)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $862, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filing periods, indicating a fully volunteer-led structure, which is highly efficient 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.
Red Flags
The following concerns were identified during AI analysis of Maxwell K Murphy Scholarship Fund's IRS 990 filings:
- Consistent negative net income (expenses exceeding revenue) in multiple periods, leading to asset depletion (e.g., 2020: $1,259 revenue vs. $2,121 expenses; 2019: $1,045 revenue vs. $1,750 expenses).
- Declining asset base over time, from $35,411 in 2011 to $24,942 currently, indicating a potential long-term sustainability challenge without increased fundraising or endowment growth.
Strengths
The following positive indicators were identified for Maxwell K Murphy Scholarship Fund:
- Strong program focus, as implied by its mission as a scholarship fund and minimal overhead (0% officer compensation).
- High transparency with consistent IRS 990 filings over seven periods.
- Efficient operations due to volunteer leadership, with 0% officer compensation reported across all available filings.
Frequently Asked Questions about Maxwell K Murphy Scholarship Fund
Is Maxwell K Murphy Scholarship Fund a legitimate charity?
Maxwell K Murphy Scholarship Fund (EIN: 16029987) is a registered tax-exempt nonprofit based in Maine. Our AI analysis gives it a Mission Score of 85/100. It has 7 years of IRS 990 filings on record. Total revenue: $7K. 2 red flags identified. 3 strengths noted. Financial health grade: B.
How does Maxwell K Murphy Scholarship Fund spend its money?
Maxwell K Murphy Scholarship Fund directs 90% of its spending to programs and services. This exceeds the 65% industry benchmark.
Are donations to Maxwell K Murphy Scholarship Fund tax-deductible?
Maxwell K Murphy Scholarship Fund is registered as a tax-exempt nonprofit (EIN: 16029987). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Maxwell K Murphy Scholarship Fund located?
Maxwell K Murphy Scholarship Fund is headquartered in Ellsworth, Maine and files with the IRS under EIN 16029987.
How many years of IRS 990 filings does Maxwell K Murphy Scholarship Fund have?
Maxwell K Murphy Scholarship Fund 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 $7K in total revenue.
Is the Maxwell K Murphy Scholarship Fund financially sustainable long-term?
The fund has experienced a gradual decline in assets from $35,411 in 2011 to $24,942 currently, with expenses often exceeding revenue (e.g., $1,259 revenue vs. $2,121 expenses in 2020). This trend suggests that without significant new contributions, its ability to sustain scholarship awards at current levels may diminish over the long term as its principal is drawn down.
How does the organization manage its expenses given its modest revenue?
The organization appears to manage expenses by relying on volunteer leadership, as evidenced by 0% officer compensation. Its total expenses are relatively low (e.g., $2,121 in 2020), indicating a lean operational model, likely focused almost entirely on scholarship disbursements and minimal administrative costs.
What is the primary source of the fund's revenue?
While not explicitly detailed in the provided data, given its nature as a scholarship fund and its modest revenue figures (e.g., $1,259 in 2020, $1,045 in 2019), revenue likely comes from investment income on its assets and small, consistent donations.
Filing History
IRS 990 filing history for Maxwell K Murphy Scholarship Fund showing financial trends over 7 years of public records:
Over 7 years of IRS 990 filings (2011–2020), Maxwell K Murphy Scholarship Fund's revenue has declined by 56.7%, moving from $3K to $1K. Total assets decreased by 32.5% over the same period, from $35K to $24K. Total functional expenses fell by 21.5%, from $3K to $2K. In its most recent filing year (2020), Maxwell K Murphy Scholarship Fund reported a deficit of $862, with expenses exceeding revenue. The organization holds $1 in liabilities against $24K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $24K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2020 | $1K | $2K | $24K | $1 | — | View 990 |
| 2019 | $1K | $2K | $25K | $0 | — | View 990 |
| 2015 | $1K | $309 | $29K | $0 | — | View 990 |
| 2014 | $-114 | $2K | $28K | $0 | — | View 990 |
| 2013 | $610 | $2K | $31K | $0 | — | View 990 |
| 2012 | $-120 | $3K | $33K | $0 | — | View 990 |
| 2011 | $3K | $3K | $35K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2020: Revenue of $1K, expenses of $2K, and assets of $24K (revenue +20.5% year-over-year).
- 2019: Revenue of $1K, expenses of $2K, and assets of $25K (revenue -2.3% year-over-year).
- 2015: Revenue of $1K, expenses of $309, and assets of $29K.
- 2014: Revenue of $-114, expenses of $2K, and assets of $28K (revenue -118.7% year-over-year).
- 2013: Revenue of $610, expenses of $2K, and assets of $31K.
- 2012: Revenue of $-120, expenses of $3K, and assets of $33K (revenue -104.1% year-over-year).
- 2011: Revenue of $3K, expenses of $3K, and assets of $35K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Maxwell K Murphy Scholarship Fund:
Data Sources and Methodology
This transparency report for Maxwell K Murphy Scholarship 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.