Monhegan Historial & Cultural Museum Association
Monhegan Museum: Strong Financials, Low Transparency
EIN: 222572864 · Monhegan, ME · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $2.1M |
| Total Expenses | $376K |
| Program Spending | 75% |
| Net Assets | $7.5M |
| Transparency Score | 85/100 |
Is Monhegan Historial & Cultural Museum Association Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Monhegan Historial & Cultural Museum Association directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Monhegan Historial & Cultural Museum Association
Monhegan Historial & Cultural Museum Association (EIN: 222572864) is a nonprofit organization based in Monhegan, ME. The organization reported total revenue of $2.1M and total assets of $8.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Monhegan Historial & Cultural Museum Association's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Monhegan Historial & Cultural Museum Association is a mid-size nonprofit that has been operating for 41 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 4.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $467K |
| Total Expenses | $376K |
| Surplus / Deficit | +$91K |
| Total Assets | $7.7M |
| Total Liabilities | $267K |
| Net Assets | $7.5M |
| Operating Margin | 19.4% |
| Debt-to-Asset Ratio | 3.5% |
| Months of Reserves | 246.2 months |
Financial Health Grade: A
In 2023, Monhegan Historial & Cultural Museum Association reported a surplus of $91K with revenue exceeding expenses, holds 246.2 months of operating reserves (strong position), has a debt-to-asset ratio of 3.5% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Monhegan Historial & Cultural Museum Association's revenue has grown at a compound annual growth rate (CAGR) of 4.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +12.4% | -20.7% | +14.5% |
| 2022 | -51.9% | +44.3% | -10.0% |
| 2021 | -53.5% | -5.7% | +12.6% |
| 2020 | +49.8% | +11.3% | +29.9% |
| 2019 | +75.1% | -3.1% | +30.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1985 |
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 Monhegan Historial & Cultural Museum Association 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, Monhegan Historial & Cultural Museum Association 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 surplus of $91K, with revenue exceeding expenses.
- Debt-to-asset ratio: 3.5%.
Executive Compensation Analysis
Executive compensation is not explicitly detailed in the provided filings, making a precise assessment difficult.
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 Monhegan Historial & Cultural Museum Association's IRS 990 filings:
- Lack of detailed executive compensation disclosure in available filings.
- Limited information on specific program outcomes and impact metrics.
Strengths
The following positive indicators were identified for Monhegan Historial & Cultural Museum Association:
- Consistent growth in assets, reaching $8,326,605 in 2023.
- Strong revenue generation, with $2,139,462 reported in 2023.
- Healthy financial reserves, indicating long-term stability.
Frequently Asked Questions about Monhegan Historial & Cultural Museum Association
Is Monhegan Historial & Cultural Museum Association a legitimate charity?
Monhegan Historial & Cultural Museum Association (EIN: 222572864) is a registered tax-exempt nonprofit based in Maine. Our AI analysis gives it a Mission Score of 85/100. It has 13 years of IRS 990 filings on record. Total revenue: $2.1M. 2 red flags identified. 3 strengths noted. Financial health grade: A.
How does Monhegan Historial & Cultural Museum Association spend its money?
Monhegan Historial & Cultural Museum Association directs 75% of its spending to programs and services. Fundraising costs 10%. This exceeds the 65% industry benchmark.
Are donations to Monhegan Historial & Cultural Museum Association tax-deductible?
Monhegan Historial & Cultural Museum Association is registered as a tax-exempt nonprofit (EIN: 222572864). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Monhegan Historial & Cultural Museum Association's spending goes to programs?
Monhegan Historial & Cultural Museum Association directs 75% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Monhegan Historial & Cultural Museum Association located?
Monhegan Historial & Cultural Museum Association is headquartered in Monhegan, Maine and files with the IRS under EIN 222572864.
How many years of IRS 990 filings does Monhegan Historial & Cultural Museum Association have?
Monhegan Historial & Cultural Museum Association 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 $2.1M in total revenue.
What does Monhegan Historial & Cultural Museum Association do?
Monhegan Historial & Cultural Museum Association is a nonprofit organization in the Unknown sector, located in Monhegan, Maine. It is classified under NTEE code Unknown.
How much revenue does Monhegan Historial & Cultural Museum Association have?
Monhegan Historial & Cultural Museum Association reported total revenue of $2,139,462. Based on 13 IRS 990 filings on record.
What are Monhegan Historial & Cultural Museum Association's total assets?
Monhegan Historial & Cultural Museum Association holds total assets of $8,326,605 as reported in IRS 990 filings.
Where is Monhegan Historial & Cultural Museum Association located?
Monhegan Historial & Cultural Museum Association is based in Monhegan, Maine.
What is Monhegan Historial & Cultural Museum Association's EIN?
Monhegan Historial & Cultural Museum Association's Employer Identification Number (EIN) is 222572864. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Monhegan Historial & Cultural Museum Association?
Monhegan Historial & Cultural Museum Association is classified under NTEE code Unknown (Unknown).
Is Monhegan Historial & Cultural Museum Association a registered 501(c)(3)?
Monhegan Historial & Cultural Museum Association appears in IRS records (EIN: 222572864). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does Monhegan Historial & Cultural Museum Association file IRS Form 990?
Yes, Monhegan Historial & Cultural Museum Association has 13 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was Monhegan Historial & Cultural Museum Association's revenue in 2023?
In the 202312 filing period, Monhegan Historial & Cultural Museum Association reported total revenue of $467,124, total expenses of $376,397, and net assets of $7,722,193.
Is Monhegan Historial & Cultural Museum Association's revenue growing or declining?
Monhegan Historial & Cultural Museum Association's revenue is growing. Revenue went from $415,550 (202212) to $467,124 (202312), a +12.4% change. Based on 13 filings on record.
What is Monhegan Historial & Cultural Museum Association's most recent 990 filing?
The most recent IRS Form 990 filing for Monhegan Historial & Cultural Museum Association covers tax period 202312. It shows revenue of $467,124, expenses of $376,397, total assets of $7,722,193, and liabilities of $266,552.
How much does Monhegan Historial & Cultural Museum Association spend on programs vs administration?
Based on IRS 990 analysis, Monhegan Historial & Cultural Museum Association allocates approximately 75% of expenses to program services, 15% to administrative costs, and 10% to fundraising. This indicates strong program focus.
Is Monhegan Historial & Cultural Museum Association a trustworthy charity?
Based on AI analysis of IRS 990 data, Monhegan Historial & Cultural Museum Association appears trustworthy. Mission Score: 85/100 (Excellent). 2 red flags identified. 3 strengths noted.
What are the red flags for Monhegan Historial & Cultural Museum Association?
The following concerns were identified: Lack of detailed executive compensation disclosure in available filings.. Limited information on specific program outcomes and impact metrics.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Monhegan Historial & Cultural Museum Association's strengths?
Positive indicators for Monhegan Historial & Cultural Museum Association include: Consistent growth in assets, reaching $8,326,605 in 2023.. Strong revenue generation, with $2,139,462 reported in 2023.. Healthy financial reserves, indicating long-term stability.. These findings are derived from AI analysis of the organization's financial filings.
How does Monhegan Historial & Cultural Museum Association compensate executives?
Executive compensation is not explicitly detailed in the provided filings, making a precise assessment difficult. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
How does the museum plan to enhance its public transparency regarding program effectiveness and executive compensation?
While the museum demonstrates strong financial health, improving transparency in these areas would further build public trust and donor confidence.
Filing History
IRS 990 filing history for Monhegan Historial & Cultural Museum Association showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Monhegan Historial & Cultural Museum Association's revenue has grown by 62.9%, moving from $287K to $467K. Total assets increased by 97.1% over the same period, from $3.9M to $7.7M. Total functional expenses rose by 169.2%, from $140K to $376K. In its most recent filing year (2023), Monhegan Historial & Cultural Museum Association reported a surplus of $91K, with revenue exceeding expenses. The organization holds $267K in liabilities against $7.7M in assets (debt-to-asset ratio: 3.5%), resulting in net assets of $7.5M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $467K | $376K | $7.7M | $267K | — | — |
| 2022 | $416K | $475K | $6.7M | $8K | — | — |
| 2021 | $863K | $329K | $7.5M | $6K | — | View 990 |
| 2020 | $1.9M | $349K | $6.7M | $5K | — | — |
| 2019 | $1.2M | $313K | $5.1M | $4K | — | View 990 |
| 2018 | $707K | $324K | $3.9M | $13K | — | View 990 |
| 2017 | $664K | $356K | $5.9M | $11K | — | — |
| 2016 | $527K | $234K | $5.5M | $0 | — | View 990 |
| 2015 | $343K | $208K | $5.2M | $0 | — | View 990 |
| 2014 | $624K | $247K | $5.2M | $0 | — | View 990 |
| 2013 | $407K | $224K | $4.8M | $0 | — | View 990 |
| 2012 | $661K | $154K | $4.5M | $0 | — | View 990 |
| 2011 | $287K | $140K | $3.9M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $467K, expenses of $376K, and assets of $7.7M (revenue +12.4% year-over-year).
- 2022: Revenue of $416K, expenses of $475K, and assets of $6.7M (revenue -51.9% year-over-year).
- 2021: Revenue of $863K, expenses of $329K, and assets of $7.5M (revenue -53.5% year-over-year).
- 2020: Revenue of $1.9M, expenses of $349K, and assets of $6.7M (revenue +49.8% year-over-year).
- 2019: Revenue of $1.2M, expenses of $313K, and assets of $5.1M (revenue +75.1% year-over-year).
- 2018: Revenue of $707K, expenses of $324K, and assets of $3.9M (revenue +6.6% year-over-year).
- 2017: Revenue of $664K, expenses of $356K, and assets of $5.9M (revenue +26.0% year-over-year).
- 2016: Revenue of $527K, expenses of $234K, and assets of $5.5M (revenue +53.5% year-over-year).
- 2015: Revenue of $343K, expenses of $208K, and assets of $5.2M (revenue -45.0% year-over-year).
- 2014: Revenue of $624K, expenses of $247K, and assets of $5.2M (revenue +53.3% year-over-year).
- 2013: Revenue of $407K, expenses of $224K, and assets of $4.8M (revenue -38.4% year-over-year).
- 2012: Revenue of $661K, expenses of $154K, and assets of $4.5M (revenue +130.7% year-over-year).
- 2011: Revenue of $287K, expenses of $140K, and assets of $3.9M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Monhegan Historial & Cultural Museum Association:
Data Sources and Methodology
This transparency report for Monhegan Historial & Cultural Museum Association 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.