Richard C Paine Jr Automobile Collection Charitable Trust
Richard C Paine Jr Automobile Collection Charitable Trust consistently operates at a deficit, relying on substantial assets.
EIN: 16080444 · Portland, ME · NTEE: A195 · Updated: 2026-03-28
Is Richard C Paine Jr Automobile Collection Charitable Trust Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Richard C Paine Jr Automobile Collection Charitable Trust directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Richard C Paine Jr Automobile Collection Charitable Trust
Richard C Paine Jr Automobile Collection Charitable Trust (EIN: 16080444) is a nonprofit organization based in Portland, ME, classified under NTEE code A195. The organization reported total revenue of $1.7M and total assets of $17.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Richard C Paine Jr Automobile Collection Charitable Trust's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Richard C Paine Jr Automobile Collection Charitable Trust is a mid-size nonprofit that has been operating for 18 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -3.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $404K |
| Total Expenses | $576K |
| Surplus / Deficit | $-171,625 |
| Total Assets | $16.4M |
| Total Liabilities | $707 |
| Net Assets | $16.4M |
| Operating Margin | -42.4% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 341.7 months |
Financial Health Grade: B
In 2023, Richard C Paine Jr Automobile Collection Charitable Trust reported a deficit of $172K with expenses exceeding revenue, holds 341.7 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), Richard C Paine Jr Automobile Collection Charitable Trust's revenue has declined at a compound annual growth rate (CAGR) of -3.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +19.4% | +12.3% | +4.9% |
| 2022 | -42.6% | -62.2% | -12.1% |
| 2021 | -42.5% | +147.7% | +4.1% |
| 2020 | +261.0% | -17.8% | +4.4% |
| 2019 | -52.8% | +0.6% | +5.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 2008 |
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 Richard C Paine Jr Automobile Collection Charitable Trust 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: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Richard C Paine Jr Automobile Collection Charitable Trust 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 $172K, 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 its leadership is either entirely volunteer-based or compensated through other means not categorized as officer compensation, which is a strong positive for financial efficiency.
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 Richard C Paine Jr Automobile Collection Charitable Trust's IRS 990 filings:
- Consistent operational deficits, with expenses frequently exceeding revenue (e.g., $575,998 expenses vs. $404,373 revenue in 2023).
- Reliance on asset base to cover operational costs, which may not be a long-term sustainable model without increased revenue generation.
Strengths
The following positive indicators were identified for Richard C Paine Jr Automobile Collection Charitable Trust:
- Substantial asset base ($16,401,552 in 2023) providing financial stability.
- Minimal liabilities ($707 in 2023), indicating sound financial management.
- Consistent reporting of 0% officer compensation, suggesting efficient use of funds at the executive level.
- Long history of IRS 990 filings, indicating good transparency.
Frequently Asked Questions about Richard C Paine Jr Automobile Collection Charitable Trust
Is Richard C Paine Jr Automobile Collection Charitable Trust a legitimate charity?
Based on AI analysis of IRS 990 filings, Richard C Paine Jr Automobile Collection Charitable Trust (EIN: 16080444) some concerns. Mission Score: 75/100. 2 red flags identified, 4 strengths noted.
How does Richard C Paine Jr Automobile Collection Charitable Trust spend its money?
Richard C Paine Jr Automobile Collection Charitable Trust directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Richard C Paine Jr Automobile Collection Charitable Trust tax-deductible?
Richard C Paine Jr Automobile Collection Charitable Trust is registered as a tax-exempt nonprofit (EIN: 16080444). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is the Richard C Paine Jr Automobile Collection Charitable Trust financially sustainable given its recurring operational deficits?
The Trust has consistently reported expenses exceeding revenue in most recent years (e.g., $575,998 expenses vs. $404,373 revenue in 2023). While it possesses substantial assets ($16,401,552 in 2023), this trend suggests reliance on its endowment rather than operational income, which may not be sustainable indefinitely without a strategy to increase revenue or reduce expenses.
What is the primary source of the organization's revenue?
The provided data only shows total revenue. Without a detailed breakdown from the 990 filings, it's unclear if revenue primarily comes from contributions, investment income, program service fees, or other sources. Given the nature of a charitable trust with an automobile collection, investment income from its substantial assets is likely a significant component.
How does the organization manage to operate with 0% officer compensation?
The consistent reporting of 0% officer compensation across all filings suggests that the organization's leadership may be entirely volunteer-based, or that any compensation is structured in a way that it is not reported under 'officer compensation' on the 990 form. This is a positive indicator of efficient use of funds.
What are the specific program activities funded by the Trust?
Based on the NTEE code A195 (Museums) and the organization's name, its program activities likely involve the preservation, maintenance, and exhibition of the Richard C Paine Jr Automobile Collection. However, the summary data does not provide specific details on these activities or their associated costs.
Filing History
IRS 990 filing history for Richard C Paine Jr Automobile Collection Charitable Trust showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Richard C Paine Jr Automobile Collection Charitable Trust's revenue has declined by 31.7%, moving from $592K to $404K. Total assets increased by 12.9% over the same period, from $14.5M to $16.4M. Total functional expenses rose by 31.2%, from $439K to $576K. In its most recent filing year (2023), Richard C Paine Jr Automobile Collection Charitable Trust reported a deficit of $172K, with expenses exceeding revenue. The organization holds $707 in liabilities against $16.4M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $16.4M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $404K | $576K | $16.4M | $707 | — | — |
| 2022 | $339K | $513K | $15.6M | $1K | — | View 990 |
| 2021 | $590K | $1.4M | $17.8M | $1 | — | — |
| 2020 | $1.0M | $548K | $17.1M | $1K | — | View 990 |
| 2019 | $284K | $667K | $16.4M | $1 | — | View 990 |
| 2015 | $602K | $663K | $15.5M | $1 | — | View 990 |
| 2014 | $487K | $658K | $13.7M | $1 | — | View 990 |
| 2013 | $403K | $624K | $13.9M | $1 | — | View 990 |
| 2012 | $222K | $563K | $14.1M | $1 | — | View 990 |
| 2011 | $592K | $439K | $14.5M | $1 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $404K, expenses of $576K, and assets of $16.4M (revenue +19.4% year-over-year).
- 2022: Revenue of $339K, expenses of $513K, and assets of $15.6M (revenue -42.6% year-over-year).
- 2021: Revenue of $590K, expenses of $1.4M, and assets of $17.8M (revenue -42.5% year-over-year).
- 2020: Revenue of $1.0M, expenses of $548K, and assets of $17.1M (revenue +261.0% year-over-year).
- 2019: Revenue of $284K, expenses of $667K, and assets of $16.4M (revenue -52.8% year-over-year).
- 2015: Revenue of $602K, expenses of $663K, and assets of $15.5M (revenue +23.7% year-over-year).
- 2014: Revenue of $487K, expenses of $658K, and assets of $13.7M (revenue +20.9% year-over-year).
- 2013: Revenue of $403K, expenses of $624K, and assets of $13.9M (revenue +81.1% year-over-year).
- 2012: Revenue of $222K, expenses of $563K, and assets of $14.1M (revenue -62.4% year-over-year).
- 2011: Revenue of $592K, expenses of $439K, and assets of $14.5M.
Data Sources and Methodology
This transparency report for Richard C Paine Jr Automobile Collection Charitable Trust 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.