Nichols Handy Charitable Foundation
Nichols Handy Charitable Foundation's assets have steadily declined over a decade due to expenses consistently exceeding minimal revenue.
EIN: 201206760 · Kittery Point, ME · NTEE: T22 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1K |
| Total Expenses | $1K |
| Program Spending | 75% |
| Net Assets | $15K |
| Transparency Score | 45/100 |
Is Nichols Handy Charitable Foundation Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Nichols Handy Charitable Foundation directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Nichols Handy Charitable Foundation
Nichols Handy Charitable Foundation (EIN: 201206760) is a nonprofit organization based in Kittery Point, ME, classified under NTEE code T22. The organization reported total revenue of $1K and total assets of $14K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Nichols Handy Charitable Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Nichols Handy Charitable Foundation is a micro nonprofit that has been operating for 22 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 38.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $292 |
| Total Expenses | $1K |
| Surplus / Deficit | $-1,120 |
| Total Assets | $15K |
| Total Liabilities | $1 |
| Net Assets | $15K |
| Operating Margin | -383.6% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 125.4 months |
Financial Health Grade: B
In 2023, Nichols Handy Charitable Foundation reported a deficit of $1K with expenses exceeding revenue, holds 125.4 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 (2011–2023), Nichols Handy Charitable Foundation's revenue has grown at a compound annual growth rate (CAGR) of 38.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +35.8% | -5.6% | -7.1% |
| 2022 | +923.8% | -7.7% | -7.5% |
| 2020 | -537.6% | -2.6% | -15.7% |
| 2019 | -36.7% | -14.6% | -22.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2004 |
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 Nichols Handy Charitable Foundation with a Mission Score of 45 out of 100 (Fair). 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, Nichols Handy Charitable Foundation 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 deficit of $1K, 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 officers are not paid, which is commendable for an organization of this size and helps keep administrative costs low.
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 Nichols Handy Charitable Foundation's IRS 990 filings:
- Consistent decline in assets over a decade (from $36,561 in 2011 to $14,755 in 2023).
- Expenses consistently exceed revenue, indicating an unsustainable financial model without new funding (e.g., 2023: $1,412 expenses vs. $292 revenue).
- Extremely low and inconsistent revenue generation, suggesting limited operational capacity or impact.
Strengths
The following positive indicators were identified for Nichols Handy Charitable Foundation:
- Consistent 0% officer compensation, indicating volunteer leadership and low salary overhead.
- Consistent 990 filings, demonstrating transparency in reporting.
- Minimal liabilities ($1 consistently reported), indicating no significant debt.
Frequently Asked Questions about Nichols Handy Charitable Foundation
Is Nichols Handy Charitable Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Nichols Handy Charitable Foundation (EIN: 201206760) significant concerns. Mission Score: 45/100. 3 red flags identified, 3 strengths noted.
How does Nichols Handy Charitable Foundation spend its money?
Nichols Handy Charitable Foundation directs 75% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Nichols Handy Charitable Foundation tax-deductible?
Nichols Handy Charitable Foundation is registered as a tax-exempt nonprofit (EIN: 201206760). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Nichols Handy Charitable Foundation's spending goes to programs?
Nichols Handy Charitable Foundation directs 75% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Nichols Handy Charitable Foundation compare to similar nonprofits?
With a transparency score of 45/100 (Fair), Nichols Handy Charitable Foundation is near average for NTEE category T22 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Nichols Handy Charitable Foundation located?
Nichols Handy Charitable Foundation is headquartered in Kittery Point, Maine and files with the IRS under EIN 201206760. It is classified under NTEE code T22.
How many years of IRS 990 filings does Nichols Handy Charitable Foundation have?
Nichols Handy Charitable Foundation 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 $1K in total revenue.
What are the specific programs or grants the Nichols Handy Charitable Foundation supports?
The provided data does not detail specific programs or grants. Given the very low revenue and expenses (e.g., $292 revenue, $1,412 expenses in 2023), any programmatic activity would be extremely limited in scope.
Why have the organization's assets consistently declined over the past decade?
Assets have declined because expenses have consistently exceeded revenue each year. For instance, in 2023, expenses were $1,412 while revenue was only $292, leading to a draw-down of assets.
Is the Nichols Handy Charitable Foundation actively fundraising or seeking new revenue streams?
The consistent pattern of very low revenue (e.g., $21 in 2021, $292 in 2023) suggests that the organization is either not actively fundraising or has been largely unsuccessful in securing significant new funding.
Filing History
IRS 990 filing history for Nichols Handy Charitable Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Nichols Handy Charitable Foundation's revenue has grown by 4766.7%, moving from $6 to $292. Total assets decreased by 59.6% over the same period, from $37K to $15K. Total functional expenses fell by 47.3%, from $3K to $1K. In its most recent filing year (2023), Nichols Handy Charitable Foundation reported a deficit of $1K, with expenses exceeding revenue. The organization holds $1 in liabilities against $15K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $15K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $292 | $1K | $15K | $1 | — | — |
| 2022 | $215 | $1K | $16K | $1 | — | — |
| 2021 | $21 | $2K | $17K | $1 | — | — |
| 2020 | $-1,825 | $2K | $19K | $1 | — | View 990 |
| 2019 | $417 | $2K | $22K | $1 | — | View 990 |
| 2015 | $659 | $2K | $29K | $1 | — | View 990 |
| 2014 | $652 | $2K | $30K | $1 | — | View 990 |
| 2013 | $3 | $2K | $32K | $1 | — | View 990 |
| 2012 | $6 | $2K | $34K | $1 | — | View 990 |
| 2011 | $6 | $3K | $37K | $1 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $292, expenses of $1K, and assets of $15K (revenue +35.8% year-over-year).
- 2022: Revenue of $215, expenses of $1K, and assets of $16K (revenue +923.8% year-over-year).
- 2021: Revenue of $21, expenses of $2K, and assets of $17K.
- 2020: Revenue of $-1,825, expenses of $2K, and assets of $19K (revenue -537.6% year-over-year).
- 2019: Revenue of $417, expenses of $2K, and assets of $22K (revenue -36.7% year-over-year).
- 2015: Revenue of $659, expenses of $2K, and assets of $29K (revenue +1.1% year-over-year).
- 2014: Revenue of $652, expenses of $2K, and assets of $30K (revenue +21633.3% year-over-year).
- 2013: Revenue of $3, expenses of $2K, and assets of $32K (revenue -50.0% year-over-year).
- 2012: Revenue of $6, expenses of $2K, and assets of $34K (revenue +0.0% year-over-year).
- 2011: Revenue of $6, expenses of $3K, and assets of $37K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Nichols Handy Charitable Foundation:
Data Sources and Methodology
This transparency report for Nichols Handy Charitable Foundation 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.