Peter A Willett Tr
Peter A Willett Tr consistently operates at a deficit, with 2023 expenses nearly double its revenue.
EIN: 206054578 · Bangor, ME · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $51K |
| Total Expenses | $68K |
| Program Spending | 80% |
| Net Assets | $238K |
| Transparency Score | 65/100 |
Is Peter A Willett Tr Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Peter A Willett Tr directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Peter A Willett Tr
Peter A Willett Tr (EIN: 206054578) is a nonprofit organization based in Bangor, ME. The organization reported total revenue of $51K and total assets of $241K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Peter A Willett Tr's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Peter A Willett Tr is a micro nonprofit, with 3 years of IRS 990 filings on record (2021–2023). Revenue has grown at a compound annual rate of 4.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $36K |
| Total Expenses | $68K |
| Surplus / Deficit | $-32,245 |
| Total Assets | $238K |
| Total Liabilities | $1 |
| Net Assets | $238K |
| Operating Margin | -89.4% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 41.8 months |
Financial Health Grade: B
In 2023, Peter A Willett Tr reported a deficit of $32K with expenses exceeding revenue, holds 41.8 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 3 years of filings (2021–2023), Peter A Willett Tr's revenue has grown at a compound annual growth rate (CAGR) of 4.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +2504.3% | +573.0% | -11.9% |
| 2022 | -95.8% | -1.2% | -3.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
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 Peter A Willett Tr with a Mission Score of 65 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, Peter A Willett Tr 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 $32K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation is reported at 0% across all available filings, indicating that no portion of the organization's expenses is allocated to officer salaries, which is highly favorable for a small organization 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 Peter A Willett Tr's IRS 990 filings:
- Consistent operating deficits (e.g., $32,245 deficit in 2023, $8,765 deficit in 2022).
- Significant increase in expenses in 2023 without a corresponding revenue increase ($68,314 expenses vs. $36,069 revenue).
- Declining asset base from $279,178 in 2021 to $238,103 in 2023, likely due to covering deficits.
Strengths
The following positive indicators were identified for Peter A Willett Tr:
- 0% officer compensation reported across all filings, indicating efficient use of funds for non-executive purposes.
- Very low liabilities ($1 reported consistently), suggesting no significant debt burden.
Frequently Asked Questions about Peter A Willett Tr
Is Peter A Willett Tr a legitimate charity?
Peter A Willett Tr (EIN: 206054578) is a registered tax-exempt nonprofit based in Maine. Our AI analysis gives it a Mission Score of 65/100. It has 3 years of IRS 990 filings on record. Total revenue: $51K. 3 red flags identified. 2 strengths noted. Financial health grade: B.
How does Peter A Willett Tr spend its money?
Peter A Willett Tr directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Peter A Willett Tr tax-deductible?
Peter A Willett Tr is registered as a tax-exempt nonprofit (EIN: 206054578). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Peter A Willett Tr's spending goes to programs?
Peter A Willett Tr directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Peter A Willett Tr located?
Peter A Willett Tr is headquartered in Bangor, Maine and files with the IRS under EIN 206054578.
How many years of IRS 990 filings does Peter A Willett Tr have?
Peter A Willett Tr has 3 years of IRS 990 filings on record at NonprofitSpending. Additional filing years may become available as the IRS releases new data. The most recent filing shows $51K in total revenue.
Is Peter A Willett Tr a good charity?
While the organization shows a commitment to not paying officer compensation, its consistent operating deficits (e.g., $36,069 revenue vs. $68,314 expenses in 2023) suggest potential financial instability. A 'good' charity typically demonstrates sustainable financial management.
What caused the significant increase in expenses in 2023?
In 2023, expenses jumped to $68,314 from $10,150 in 2022. Without a detailed breakdown of expenses, it's impossible to determine the specific cause, but this represents a substantial increase that led to a large operating deficit.
How does Peter A Willett Tr fund its operations given the deficits?
The organization has reported consistent operating deficits, for example, $32,245 in 2023. It likely relies on its existing assets ($238,103 in 2023) or prior period surpluses to cover these shortfalls, which is not sustainable long-term.
Filing History
IRS 990 filing history for Peter A Willett Tr showing financial trends over 3 years of public records:
Over 3 years of IRS 990 filings (2021–2023), Peter A Willett Tr's revenue has grown by 9.5%, moving from $33K to $36K. Total assets decreased by 14.7% over the same period, from $279K to $238K. Total functional expenses rose by 565%, from $10K to $68K. In its most recent filing year (2023), Peter A Willett Tr reported a deficit of $32K, with expenses exceeding revenue. The organization holds $1 in liabilities against $238K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $238K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $36K | $68K | $238K | $1 | — | — |
| 2022 | $1K | $10K | $270K | $1 | — | — |
| 2021 | $33K | $10K | $279K | $1 | — | — |
Year-by-Year Financial Summary
- 2023: Revenue of $36K, expenses of $68K, and assets of $238K (revenue +2504.3% year-over-year).
- 2022: Revenue of $1K, expenses of $10K, and assets of $270K (revenue -95.8% year-over-year).
- 2021: Revenue of $33K, expenses of $10K, and assets of $279K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Peter A Willett Tr:
Data Sources and Methodology
This transparency report for Peter A Willett Tr 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.