Myrtice Oakes Trust Uw Nect
Myrtice Oakes Trust maintains stable assets and zero executive compensation amidst fluctuating, modest revenues.
EIN: 16017002 · Portland, ME · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $90K |
| Total Expenses | $6K |
| Program Spending | 90% |
| Net Assets | $85K |
| Transparency Score | 75/100 |
Is Myrtice Oakes Trust Uw Nect Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Myrtice Oakes Trust Uw Nect directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Myrtice Oakes Trust Uw Nect
Myrtice Oakes Trust Uw Nect (EIN: 16017002) is a nonprofit organization based in Portland, ME. The organization reported total revenue of $90K and total assets of $85K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Myrtice Oakes Trust Uw Nect's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Myrtice Oakes Trust Uw Nect is a micro nonprofit that has been operating for 56 years, with 10 years of IRS 990 filings on record (2012–2024). Revenue has grown at a compound annual rate of -6.1%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $3K |
| Total Expenses | $6K |
| Surplus / Deficit | $-2,691 |
| Total Assets | $85K |
| Total Liabilities | $1 |
| Net Assets | $85K |
| Operating Margin | -80.4% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 168.2 months |
Financial Health Grade: B
In 2024, Myrtice Oakes Trust Uw Nect reported a deficit of $3K with expenses exceeding revenue, holds 168.2 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 10 years of filings (2012–2024), Myrtice Oakes Trust Uw Nect's revenue has declined at a compound annual growth rate (CAGR) of -6.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -109.5% | -5.7% | -9.1% |
| 2022 | +210.8% | +21.2% | +3.4% |
| 2021 | -3.3% | +0.1% | +14.0% |
| 2020 | +383.8% | -0.3% | -2.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1970 |
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 Myrtice Oakes Trust Uw Nect 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: 10%
- programs: 90%
- fundraising: 0%
According to IRS 990 filings, Myrtice Oakes Trust Uw Nect 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 (2024)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $3K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that no executive salaries are paid, which is highly efficient for a trust of this 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 Myrtice Oakes Trust Uw Nect's IRS 990 filings:
- Lack of detailed program information due to trust structure
- Fluctuating and sometimes negative revenue figures (e.g., $-1,875 in 202304)
Strengths
The following positive indicators were identified for Myrtice Oakes Trust Uw Nect:
- Consistent zero officer compensation, indicating efficient use of funds for its stated purpose.
- Stable asset base (around $80,000-$90,000) over the past decade.
- Very low liabilities (consistently $0 or $1), indicating strong financial solvency.
- Consistent filing history, demonstrating transparency in financial reporting.
Frequently Asked Questions about Myrtice Oakes Trust Uw Nect
Is Myrtice Oakes Trust Uw Nect a legitimate charity?
Myrtice Oakes Trust Uw Nect (EIN: 16017002) is a registered tax-exempt nonprofit based in Maine. Our AI analysis gives it a Mission Score of 75/100. It has 10 years of IRS 990 filings on record. Total revenue: $90K. 2 red flags identified. 4 strengths noted. Financial health grade: B.
How does Myrtice Oakes Trust Uw Nect spend its money?
Myrtice Oakes Trust Uw Nect directs 90% of its spending to programs and services. This exceeds the 65% industry benchmark.
Are donations to Myrtice Oakes Trust Uw Nect tax-deductible?
Myrtice Oakes Trust Uw Nect is registered as a tax-exempt nonprofit (EIN: 16017002). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Myrtice Oakes Trust Uw Nect located?
Myrtice Oakes Trust Uw Nect is headquartered in Portland, Maine and files with the IRS under EIN 16017002.
How many years of IRS 990 filings does Myrtice Oakes Trust Uw Nect have?
Myrtice Oakes Trust Uw Nect has 10 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 $90K in total revenue.
What is the specific purpose or beneficiary of the Myrtice Oakes Trust Uw Nect?
The IRS 990 data provided does not specify the exact purpose or beneficiaries of the trust, only its financial activities. Further investigation into the trust's founding documents would be necessary.
How does the trust manage to operate with zero officer compensation?
As a trust, it's common for administrative duties to be handled by a trustee who may be compensated through other means not reported as officer compensation on a 990-EZ, or the trust may be managed by volunteers or an institution that absorbs these costs.
What caused the negative revenue of $-1,875 in the 202304 period?
Negative revenue typically indicates investment losses or a return of funds that exceeded new income for the period. Without detailed financial statements, the exact cause cannot be determined from the summary data.
Filing History
IRS 990 filing history for Myrtice Oakes Trust Uw Nect showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2012–2024), Myrtice Oakes Trust Uw Nect's revenue has declined by 52.8%, moving from $7K to $3K. Total assets increased by 0.3% over the same period, from $84K to $85K. Total functional expenses rose by 13.2%, from $5K to $6K. In its most recent filing year (2024), Myrtice Oakes Trust Uw Nect reported a deficit of $3K, with expenses exceeding revenue. The organization holds $1 in liabilities against $85K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $85K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $3K | $6K | $85K | $1 | — | — |
| 2023 | $-1,875 | $7K | $86K | $1 | — | View 990 |
| 2022 | $20K | $7K | $95K | $1 | — | — |
| 2021 | $6K | $6K | $92K | $1 | — | — |
| 2020 | $7K | $6K | $81K | $1 | — | View 990 |
| 2016 | $1K | $6K | $83K | $0 | — | View 990 |
| 2015 | $4K | $6K | $87K | $0 | — | View 990 |
| 2014 | $9K | $7K | $89K | $0 | — | View 990 |
| 2013 | $11K | $5K | $90K | $0 | — | View 990 |
| 2012 | $7K | $5K | $84K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $3K, expenses of $6K, and assets of $85K.
- 2023: Revenue of $-1,875, expenses of $7K, and assets of $86K (revenue -109.5% year-over-year).
- 2022: Revenue of $20K, expenses of $7K, and assets of $95K (revenue +210.8% year-over-year).
- 2021: Revenue of $6K, expenses of $6K, and assets of $92K (revenue -3.3% year-over-year).
- 2020: Revenue of $7K, expenses of $6K, and assets of $81K (revenue +383.8% year-over-year).
- 2016: Revenue of $1K, expenses of $6K, and assets of $83K (revenue -63.8% year-over-year).
- 2015: Revenue of $4K, expenses of $6K, and assets of $87K (revenue -59.2% year-over-year).
- 2014: Revenue of $9K, expenses of $7K, and assets of $89K (revenue -18.4% year-over-year).
- 2013: Revenue of $11K, expenses of $5K, and assets of $90K (revenue +57.8% year-over-year).
- 2012: Revenue of $7K, expenses of $5K, and assets of $84K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Myrtice Oakes Trust Uw Nect:
Data Sources and Methodology
This transparency report for Myrtice Oakes Trust Uw Nect 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.