Skowhegan School Of Painting And Sculpture Inc
Skowhegan School shows strong asset growth and zero officer compensation, despite a recent operating deficit in 2023.
EIN: 10263908 · New York, NY · NTEE: A250 · Updated: 2026-03-27
Is Skowhegan School Of Painting And Sculpture Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Skowhegan School Of Painting And Sculpture Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Skowhegan School Of Painting And Sculpture Inc
Skowhegan School Of Painting And Sculpture Inc (EIN: 10263908) is a nonprofit organization based in New York, NY, classified under NTEE code A250. The organization reported total revenue of $20.8M and total assets of $44.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Skowhegan School Of Painting And Sculpture Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Skowhegan School Of Painting And Sculpture Inc with a Mission Score of 90 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: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Skowhegan School Of Painting And Sculpture Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that no compensation is paid to officers, which is highly unusual for an organization of this size and asset base ($40.6 million in 2023). This suggests either a fully volunteer leadership or compensation is reported under different categories, warranting further investigation for complete transparency.
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 Skowhegan School Of Painting And Sculpture Inc's IRS 990 filings:
- Operating deficit in 2023: Expenses ($4,130,268) significantly exceeded revenue ($2,214,790) in the latest filing period.
- Unusually low (0%) officer compensation reported for an organization of this size, which may warrant further clarification on how leadership is compensated or structured.
Strengths
The following positive indicators were identified for Skowhegan School Of Painting And Sculpture Inc:
- Strong asset growth: Assets increased from $18.7 million in 2016 to $40.6 million in 2023, indicating robust financial health and capacity.
- Very low liabilities: Liabilities consistently remain a small fraction of total assets, demonstrating strong financial management and low debt risk.
- Consistent reporting of 0% officer compensation, suggesting a high dedication to mission-related spending.
- Significant revenue generation capacity, with several years showing revenues well over $5 million, including a peak of $9.4 million in 2022.
Frequently Asked Questions about Skowhegan School Of Painting And Sculpture Inc
Is Skowhegan School Of Painting And Sculpture Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Skowhegan School Of Painting And Sculpture Inc (EIN: 10263908) some concerns. Mission Score: 90/100. 2 red flags identified, 4 strengths noted.
How does Skowhegan School Of Painting And Sculpture Inc spend its money?
Skowhegan School Of Painting And Sculpture Inc directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Skowhegan School Of Painting And Sculpture Inc tax-deductible?
Skowhegan School Of Painting And Sculpture Inc is registered as a tax-exempt nonprofit (EIN: 10263908). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Skowhegan School Of Painting And Sculpture Inc a good charity?
Based on the available data, Skowhegan School appears to be a good charity. It demonstrates strong asset growth, very low liabilities, and a consistent report of 0% officer compensation, suggesting a high dedication to its mission. However, the 2023 operating deficit where expenses ($4.1M) exceeded revenue ($2.2M) is a point to monitor.
How has the organization's financial health changed over time?
The organization's financial health has generally improved significantly over time, with assets more than doubling from $18.7 million in 2016 to $40.6 million in 2023. While revenue and expenses fluctuate year-to-year, the overall trend points to substantial growth and increased financial capacity.
What is the significance of 0% officer compensation?
The consistent reporting of 0% officer compensation is highly significant. It indicates that the organization's leadership is either entirely volunteer-based or that compensation for key personnel is categorized differently, which is unusual for an organization of this scale. This practice, if accurate, suggests a strong commitment to directing funds towards programs rather than executive salaries.
What caused the revenue fluctuation in recent years?
Revenue has fluctuated considerably, from $9.4 million in 2022 to $2.2 million in 2023. Without detailed financial statements, it's difficult to pinpoint exact causes, but such swings could be due to large one-time grants, capital campaigns, or market performance affecting investment income. The significant drop in 2023 revenue compared to 2022 is a key area for further inquiry.
Filing History
IRS 990 filing history for Skowhegan School Of Painting And Sculpture Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Skowhegan School Of Painting And Sculpture Inc's revenue has declined by 21.3%, moving from $2.8M to $2.2M. Total assets increased by 168.3% over the same period, from $15.1M to $40.6M. Total functional expenses rose by 127.4%, from $1.8M to $4.1M. In its most recent filing year (2023), Skowhegan School Of Painting And Sculpture Inc reported a deficit of $1.9M, with expenses exceeding revenue. The organization holds $232K in liabilities against $40.6M in assets (debt-to-asset ratio: 0.6%), resulting in net assets of $40.4M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $2.2M | $4.1M | $40.6M | $232K | — | — |
| 2022 | $9.4M | $3.9M | $37.4M | $162K | — | View 990 |
| 2021 | $5.4M | $2.8M | $36.8M | $254K | — | View 990 |
| 2020 | $5.4M | $2.4M | $31.2M | $178K | — | View 990 |
| 2019 | $6.8M | $3.1M | $25.8M | $131K | — | View 990 |
| 2018 | $3.7M | $2.7M | $21.6M | $105K | — | View 990 |
| 2017 | $4.0M | $2.4M | $21.8M | $97K | — | View 990 |
| 2016 | $2.0M | $2.3M | $18.7M | $62K | — | View 990 |
| 2015 | $2.5M | $2.3M | $18.8M | $73K | — | View 990 |
| 2014 | $3.6M | $2.1M | $19.4M | $52K | — | View 990 |
| 2013 | $2.2M | $2.0M | $18.8M | $59K | — | View 990 |
| 2012 | $3.0M | $1.9M | $16.6M | $39K | — | View 990 |
| 2011 | $2.8M | $1.8M | $15.1M | $31K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.2M, expenses of $4.1M, and assets of $40.6M (revenue -76.5% year-over-year).
- 2022: Revenue of $9.4M, expenses of $3.9M, and assets of $37.4M (revenue +73.2% year-over-year).
- 2021: Revenue of $5.4M, expenses of $2.8M, and assets of $36.8M (revenue +-0.0% year-over-year).
- 2020: Revenue of $5.4M, expenses of $2.4M, and assets of $31.2M (revenue -20.5% year-over-year).
- 2019: Revenue of $6.8M, expenses of $3.1M, and assets of $25.8M (revenue +87.2% year-over-year).
- 2018: Revenue of $3.7M, expenses of $2.7M, and assets of $21.6M (revenue -8.6% year-over-year).
- 2017: Revenue of $4.0M, expenses of $2.4M, and assets of $21.8M (revenue +96.5% year-over-year).
- 2016: Revenue of $2.0M, expenses of $2.3M, and assets of $18.7M (revenue -18.7% year-over-year).
- 2015: Revenue of $2.5M, expenses of $2.3M, and assets of $18.8M (revenue -30.9% year-over-year).
- 2014: Revenue of $3.6M, expenses of $2.1M, and assets of $19.4M (revenue +61.3% year-over-year).
- 2013: Revenue of $2.2M, expenses of $2.0M, and assets of $18.8M (revenue -24.3% year-over-year).
- 2012: Revenue of $3.0M, expenses of $1.9M, and assets of $16.6M (revenue +5.4% year-over-year).
- 2011: Revenue of $2.8M, expenses of $1.8M, and assets of $15.1M.
Data Sources and Methodology
This transparency report for Skowhegan School Of Painting And Sculpture 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.