Rangeley Lakes Heritage Trust Inc
Rangeley Lakes Heritage Trust Inc shows strong financial growth and zero officer compensation.
EIN: 10472641 · Rangeley, ME · NTEE: C340 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $6.5M |
| Total Expenses | $3.4M |
| Program Spending | 90% |
| Net Assets | $22.1M |
| Transparency Score | 95/100 |
Is Rangeley Lakes Heritage Trust Inc Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Rangeley Lakes Heritage Trust Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Rangeley Lakes Heritage Trust Inc
Rangeley Lakes Heritage Trust Inc (EIN: 10472641) is a nonprofit organization based in Rangeley, ME, classified under NTEE code C340. The organization reported total revenue of $6.5M and total assets of $25.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Rangeley Lakes Heritage Trust Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Rangeley Lakes Heritage Trust Inc is a mid-size nonprofit that has been operating for 34 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 18.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $6.6M |
| Total Expenses | $3.4M |
| Surplus / Deficit | +$3.2M |
| Total Assets | $22.5M |
| Total Liabilities | $440K |
| Net Assets | $22.1M |
| Operating Margin | 48.2% |
| Debt-to-Asset Ratio | 2.0% |
| Months of Reserves | 79.1 months |
Financial Health Grade: A
In 2023, Rangeley Lakes Heritage Trust Inc reported a surplus of $3.2M with revenue exceeding expenses, holds 79.1 months of operating reserves (strong position), has a debt-to-asset ratio of 2.0% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Rangeley Lakes Heritage Trust Inc's revenue has grown at a compound annual growth rate (CAGR) of 18.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +53.2% | +137.4% | +9.2% |
| 2022 | +40.3% | +81.9% | +22.7% |
| 2021 | +201.1% | +9.6% | +21.4% |
| 2020 | +50.9% | +2.4% | +2.9% |
| 2019 | -25.0% | +9.8% | +2.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1992 |
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 Rangeley Lakes Heritage Trust Inc with a Mission Score of 95 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: 5%
- programs: 90%
- fundraising: 5%
According to IRS 990 filings, Rangeley Lakes Heritage Trust Inc allocates its expenses as follows: admin: 5%, programs: 90%, fundraising: 5%. With 90% 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 $3.2M, with revenue exceeding expenses.
- Debt-to-asset ratio: 2.0%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that no salaries are paid to its officers. This is a highly positive indicator for a nonprofit, suggesting that leadership is either volunteer-based or compensated through other means not classified as officer compensation, and that resources are primarily directed towards the mission.
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.
Strengths
The following positive indicators were identified for Rangeley Lakes Heritage Trust Inc:
- Strong revenue growth, increasing from $1,018,763 in 2020 to $6,590,702 in 2023.
- Consistent asset growth, reaching $22,519,293 in 2023 from $13,844,858 in 2020.
- Zero officer compensation reported across all filings, indicating high efficiency and mission focus.
- Low liabilities relative to assets, with liabilities at $439,681 against assets of $22,519,293 in 2023.
- Expenses significantly lower than revenue in recent years, allowing for asset accumulation (e.g., 2023 expenses $3,417,082 vs. revenue $6,590,702).
Frequently Asked Questions about Rangeley Lakes Heritage Trust Inc
Is Rangeley Lakes Heritage Trust Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Rangeley Lakes Heritage Trust Inc (EIN: 10472641) appears legitimate. Mission Score: 95/100. 0 red flags identified, 5 strengths noted.
How does Rangeley Lakes Heritage Trust Inc spend its money?
Rangeley Lakes Heritage Trust Inc directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Rangeley Lakes Heritage Trust Inc tax-deductible?
Rangeley Lakes Heritage Trust Inc is registered as a tax-exempt nonprofit (EIN: 10472641). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Rangeley Lakes Heritage Trust Inc's spending goes to programs?
Rangeley Lakes Heritage Trust Inc directs 90% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Rangeley Lakes Heritage Trust Inc compare to similar nonprofits?
With a transparency score of 95/100 (Excellent), Rangeley Lakes Heritage Trust Inc is above average for NTEE category C340 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Rangeley Lakes Heritage Trust Inc located?
Rangeley Lakes Heritage Trust Inc is headquartered in Rangeley, Maine and files with the IRS under EIN 10472641. It is classified under NTEE code C340.
How many years of IRS 990 filings does Rangeley Lakes Heritage Trust Inc have?
Rangeley Lakes Heritage Trust Inc 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 $6.5M in total revenue.
Is Rangeley Lakes Heritage Trust Inc a good charity?
Based on the provided financial data, Rangeley Lakes Heritage Trust Inc appears to be a very good charity. It exhibits strong financial health, significant asset growth, and a notable commitment to directing resources to its mission by reporting zero officer compensation.
How has the organization's revenue changed over time?
The organization has experienced substantial revenue growth, particularly from 2020 ($1,018,763) to 2023 ($6,590,702), indicating successful fundraising and donor support.
What is the trend in the organization's assets?
Assets have consistently grown, from $13,844,858 in 2020 to $22,519,293 in 2023, demonstrating effective asset management and financial stability.
Does the organization pay its officers?
No, the organization consistently reports 0% officer compensation across all available IRS 990 filings, suggesting a volunteer-led or highly efficient compensation structure for its leadership.
Filing History
IRS 990 filing history for Rangeley Lakes Heritage Trust Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Rangeley Lakes Heritage Trust Inc's revenue has grown by 642%, moving from $888K to $6.6M. Total assets increased by 163.8% over the same period, from $8.5M to $22.5M. Total functional expenses rose by 478.8%, from $590K to $3.4M. In its most recent filing year (2023), Rangeley Lakes Heritage Trust Inc reported a surplus of $3.2M, with revenue exceeding expenses. The organization holds $440K in liabilities against $22.5M in assets (debt-to-asset ratio: 2.0%), resulting in net assets of $22.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $6.6M | $3.4M | $22.5M | $440K | — | View 990 |
| 2022 | $4.3M | $1.4M | $20.6M | $1.9M | — | View 990 |
| 2021 | $3.1M | $791K | $16.8M | $432K | — | View 990 |
| 2020 | $1.0M | $722K | $13.8M | $41K | — | — |
| 2019 | $675K | $705K | $13.5M | $33K | — | View 990 |
| 2018 | $900K | $642K | $13.1M | $14K | — | View 990 |
| 2017 | $885K | $633K | $13.2M | $107K | — | View 990 |
| 2016 | $732K | $527K | $13.0M | $293K | — | View 990 |
| 2015 | $708K | $553K | $12.8M | $307K | — | View 990 |
| 2014 | $1.3M | $536K | $12.2M | $240K | — | View 990 |
| 2013 | $819K | $551K | $11.4M | $245K | — | View 990 |
| 2012 | $1.2M | $609K | $9.0M | $416K | — | View 990 |
| 2011 | $888K | $590K | $8.5M | $547K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $6.6M, expenses of $3.4M, and assets of $22.5M (revenue +53.2% year-over-year).
- 2022: Revenue of $4.3M, expenses of $1.4M, and assets of $20.6M (revenue +40.3% year-over-year).
- 2021: Revenue of $3.1M, expenses of $791K, and assets of $16.8M (revenue +201.1% year-over-year).
- 2020: Revenue of $1.0M, expenses of $722K, and assets of $13.8M (revenue +50.9% year-over-year).
- 2019: Revenue of $675K, expenses of $705K, and assets of $13.5M (revenue -25.0% year-over-year).
- 2018: Revenue of $900K, expenses of $642K, and assets of $13.1M (revenue +1.8% year-over-year).
- 2017: Revenue of $885K, expenses of $633K, and assets of $13.2M (revenue +20.9% year-over-year).
- 2016: Revenue of $732K, expenses of $527K, and assets of $13.0M (revenue +3.4% year-over-year).
- 2015: Revenue of $708K, expenses of $553K, and assets of $12.8M (revenue -45.7% year-over-year).
- 2014: Revenue of $1.3M, expenses of $536K, and assets of $12.2M (revenue +59.1% year-over-year).
- 2013: Revenue of $819K, expenses of $551K, and assets of $11.4M (revenue -33.8% year-over-year).
- 2012: Revenue of $1.2M, expenses of $609K, and assets of $9.0M (revenue +39.4% year-over-year).
- 2011: Revenue of $888K, expenses of $590K, and assets of $8.5M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Rangeley Lakes Heritage Trust Inc:
Data Sources and Methodology
This transparency report for Rangeley Lakes Heritage Trust Inc 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.