Somerset Woods Trustees
Somerset Woods Trustees consistently grows assets with minimal expenses and no reported officer compensation.
EIN: 16016350 · Skowhegan, ME · NTEE: C34Z · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $2.6M |
| Total Expenses | $152K |
| Program Spending | 90% |
| CEO/Top Officer Pay | $3,942,352. |
| Net Assets | $2.1M |
| Transparency Score | 92/100 |
Is Somerset Woods Trustees Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Somerset Woods Trustees directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Somerset Woods Trustees
Somerset Woods Trustees (EIN: 16016350) is a nonprofit organization based in Skowhegan, ME, classified under NTEE code C34Z. The organization reported total revenue of $2.6M and total assets of $3.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Somerset Woods Trustees's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Somerset Woods Trustees is a mid-size nonprofit that has been operating for 30 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 28.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $726K |
| Total Expenses | $152K |
| Surplus / Deficit | +$574K |
| Total Assets | $2.1M |
| Net Assets | $2.1M |
| Operating Margin | 79.1% |
| Months of Reserves | 168.1 months |
Financial Health Grade: A
In 2023, Somerset Woods Trustees reported a surplus of $574K with revenue exceeding expenses, holds 168.1 months of operating reserves (strong position).
Financial Trends
Over 13 years of filings (2011–2023), Somerset Woods Trustees's revenue has grown at a compound annual growth rate (CAGR) of 28.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +1072.1% | +148.7% | +44.4% |
| 2022 | -40.6% | -3.9% | -2.4% |
| 2021 | -20.6% | +109.7% | +5.3% |
| 2020 | -71.7% | -9.1% | +10.1% |
| 2019 | +185.7% | -44.5% | +54.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1996 |
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 Somerset Woods Trustees with a Mission Score of 92 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: 7%
- programs: 90%
- fundraising: 3%
According to IRS 990 filings, Somerset Woods Trustees allocates its expenses as follows: admin: 7%, programs: 90%, fundraising: 3%. 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 $574K, with revenue exceeding expenses.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that officers are either uncompensated or compensated through non-officer categories, which is highly favorable for an organization of its size with assets of $3,942,352.
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 Somerset Woods Trustees's IRS 990 filings:
- Lack of detailed expense breakdown in summary data prevents granular analysis of program vs. admin/fundraising efficiency.
Strengths
The following positive indicators were identified for Somerset Woods Trustees:
- Consistent asset growth, reaching $2,129,160 in 2023.
- Very low to zero liabilities across all reported periods.
- 0% reported officer compensation, indicating strong volunteer leadership or highly efficient compensation structure.
- Revenue consistently exceeds expenses, demonstrating strong financial management.
- Strong financial health with latest assets at $3,942,352.
Frequently Asked Questions about Somerset Woods Trustees
Is Somerset Woods Trustees a legitimate charity?
Based on AI analysis of IRS 990 filings, Somerset Woods Trustees (EIN: 16016350) some concerns. Mission Score: 92/100. 1 red flag identified, 5 strengths noted.
How does Somerset Woods Trustees spend its money?
Somerset Woods Trustees directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Somerset Woods Trustees tax-deductible?
Somerset Woods Trustees is registered as a tax-exempt nonprofit (EIN: 16016350). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Somerset Woods Trustees CEO make?
Somerset Woods Trustees's highest-compensated officer earns $3,942,352. annually. The organization reported $2.6M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Somerset Woods Trustees's spending goes to programs?
Somerset Woods Trustees directs 90% to programs, 3% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Somerset Woods Trustees compare to similar nonprofits?
With a transparency score of 92/100 (Excellent), Somerset Woods Trustees is above average for NTEE category C34Z nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Somerset Woods Trustees located?
Somerset Woods Trustees is headquartered in Skowhegan, Maine and files with the IRS under EIN 16016350. It is classified under NTEE code C34Z.
How many years of IRS 990 filings does Somerset Woods Trustees have?
Somerset Woods Trustees 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 $2.6M in total revenue.
Is Somerset Woods Trustees financially stable?
Yes, Somerset Woods Trustees appears very financially stable. Their assets have consistently grown, reaching $2,129,160 in 2023, and their liabilities are consistently low or zero across all reported periods.
Does Somerset Woods Trustees spend efficiently?
Based on the provided data, the organization appears to spend very efficiently, with expenses significantly lower than revenue in most periods (e.g., $152,006 expenses vs. $726,221 revenue in 2023), allowing for substantial asset growth.
Are the leaders of Somerset Woods Trustees compensated?
According to the IRS 990 filings, officer compensation is reported as 0% for all available periods, suggesting that the organization's officers are not compensated or are compensated through other means not classified as officer compensation.
How has Somerset Woods Trustees' asset base changed over time?
Somerset Woods Trustees has shown consistent and significant asset growth, increasing from $671,135 in 2015 to $2,129,160 in 2023, demonstrating strong financial accumulation.
Filing History
IRS 990 filing history for Somerset Woods Trustees showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Somerset Woods Trustees's revenue has grown by 1972.5%, moving from $35K to $726K. Total assets increased by 334.1% over the same period, from $491K to $2.1M. Total functional expenses rose by 1082.5%, from $13K to $152K. In its most recent filing year (2023), Somerset Woods Trustees reported a surplus of $574K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $726K | $152K | $2.1M | $0 | — | — |
| 2022 | $62K | $61K | $1.5M | $612 | — | View 990 |
| 2021 | $104K | $64K | $1.5M | $650 | — | View 990 |
| 2020 | $131K | $30K | $1.4M | $1K | — | View 990 |
| 2019 | $464K | $33K | $1.3M | $488 | — | View 990 |
| 2018 | $162K | $60K | $845K | $6K | — | View 990 |
| 2017 | $50K | $29K | $751K | $0 | — | View 990 |
| 2016 | $67K | $31K | $715K | $0 | — | View 990 |
| 2015 | $28K | $26K | $671K | $0 | — | View 990 |
| 2014 | $44K | $19K | $675K | $0 | — | View 990 |
| 2013 | $41K | $10K | $651K | $0 | — | View 990 |
| 2012 | $29K | $23K | $618K | $15K | — | View 990 |
| 2011 | $35K | $13K | $491K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $726K, expenses of $152K, and assets of $2.1M (revenue +1072.1% year-over-year).
- 2022: Revenue of $62K, expenses of $61K, and assets of $1.5M (revenue -40.6% year-over-year).
- 2021: Revenue of $104K, expenses of $64K, and assets of $1.5M (revenue -20.6% year-over-year).
- 2020: Revenue of $131K, expenses of $30K, and assets of $1.4M (revenue -71.7% year-over-year).
- 2019: Revenue of $464K, expenses of $33K, and assets of $1.3M (revenue +185.7% year-over-year).
- 2018: Revenue of $162K, expenses of $60K, and assets of $845K (revenue +225.6% year-over-year).
- 2017: Revenue of $50K, expenses of $29K, and assets of $751K (revenue -25.6% year-over-year).
- 2016: Revenue of $67K, expenses of $31K, and assets of $715K (revenue +142.1% year-over-year).
- 2015: Revenue of $28K, expenses of $26K, and assets of $671K (revenue -36.7% year-over-year).
- 2014: Revenue of $44K, expenses of $19K, and assets of $675K (revenue +6.3% year-over-year).
- 2013: Revenue of $41K, expenses of $10K, and assets of $651K (revenue +43.4% year-over-year).
- 2012: Revenue of $29K, expenses of $23K, and assets of $618K (revenue -18.1% year-over-year).
- 2011: Revenue of $35K, expenses of $13K, and assets of $491K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Somerset Woods Trustees:
Data Sources and Methodology
This transparency report for Somerset Woods Trustees 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.