Sumner O Hancock Scholarship Fund
Sumner O Hancock Scholarship Fund maintains strong assets and zero officer compensation, with recent revenue surge.
EIN: 16028898 · Casco, ME · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $127K |
| Total Expenses | $38K |
| Program Spending | 90% |
| Net Assets | $373K |
| Transparency Score | 92/100 |
Is Sumner O Hancock Scholarship Fund Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Sumner O Hancock Scholarship Fund directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Sumner O Hancock Scholarship Fund
Sumner O Hancock Scholarship Fund (EIN: 16028898) is a nonprofit organization based in Casco, ME. The organization reported total revenue of $127K and total assets of $373K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Sumner O Hancock Scholarship Fund's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Sumner O Hancock Scholarship Fund is a small nonprofit that has been operating for 32 years, with 9 years of IRS 990 filings on record (2011–2022). Revenue has grown at a compound annual rate of 7.8%.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
| Total Revenue | $35K |
| Total Expenses | $38K |
| Surplus / Deficit | $-2,837 |
| Total Assets | $373K |
| Total Liabilities | $1 |
| Net Assets | $373K |
| Operating Margin | -8.0% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 117.4 months |
Financial Health Grade: B
In 2022, Sumner O Hancock Scholarship Fund reported a deficit of $3K with expenses exceeding revenue, holds 117.4 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 9 years of filings (2011–2022), Sumner O Hancock Scholarship Fund's revenue has grown at a compound annual growth rate (CAGR) of 7.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2022 | -6.4% | -20.3% | -1.2% |
| 2021 | +48.8% | +79.3% | -3.2% |
| 2020 | -10.5% | -6.9% | -0.9% |
| 2019 | +85.9% | +59.8% | +342.8% |
| 2015 | +30.9% | +94.6% | -3.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 1994 |
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 Sumner O Hancock Scholarship Fund 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: 10%
- programs: 90%
- fundraising: 0%
According to IRS 990 filings, Sumner O Hancock Scholarship Fund allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $3K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation is consistently reported at 0%, indicating that the organization's leadership is likely volunteer-based, which is highly efficient for a fund of this size and maximizes resources for its scholarship programs.
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 Sumner O Hancock Scholarship Fund's IRS 990 filings:
- None apparent from the provided summary data.
Strengths
The following positive indicators were identified for Sumner O Hancock Scholarship Fund:
- Consistently reports 0% officer compensation, maximizing program funds.
- Maintains a strong asset base relative to annual expenses ($373,261 assets vs. $38,140 expenses in 2022).
- Minimal liabilities, often $1, indicating sound financial management.
- Consistent IRS 990 filing history demonstrates transparency.
- Significant increase in latest reported revenue ($127,026) could indicate growing support or successful investments.
Frequently Asked Questions about Sumner O Hancock Scholarship Fund
Is Sumner O Hancock Scholarship Fund a legitimate charity?
Based on AI analysis of IRS 990 filings, Sumner O Hancock Scholarship Fund (EIN: 16028898) some concerns. Mission Score: 92/100. 1 red flag identified, 5 strengths noted.
How does Sumner O Hancock Scholarship Fund spend its money?
Sumner O Hancock Scholarship Fund directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Sumner O Hancock Scholarship Fund tax-deductible?
Sumner O Hancock Scholarship Fund is registered as a tax-exempt nonprofit (EIN: 16028898). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Sumner O Hancock Scholarship Fund located?
Sumner O Hancock Scholarship Fund is headquartered in Casco, Maine and files with the IRS under EIN 16028898.
How many years of IRS 990 filings does Sumner O Hancock Scholarship Fund have?
Sumner O Hancock Scholarship Fund has 9 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 $127K in total revenue.
Is Sumner O Hancock Scholarship Fund a good charity?
Based on the provided data, the Sumner O Hancock Scholarship Fund appears to be a good charity. It maintains a strong asset base, consistently reports 0% officer compensation, and has a history of transparent IRS 990 filings. These factors suggest efficient use of funds and a strong commitment to its mission.
What caused the significant increase in the latest reported revenue of $127,026?
The provided data does not specify the source of the latest revenue surge. It could be due to a large donation, a successful fundraising campaign, or significant investment gains. Further examination of the full 990 filing for the period would be necessary to determine the exact cause.
How does the organization manage to operate with 0% officer compensation?
The consistent reporting of 0% officer compensation suggests that the organization's board members and key executives are serving in a volunteer capacity, dedicating their time and expertise without drawing a salary from the fund. This is common for smaller, community-focused scholarship funds.
Filing History
IRS 990 filing history for Sumner O Hancock Scholarship Fund showing financial trends over 9 years of public records:
Over 9 years of IRS 990 filings (2011–2022), Sumner O Hancock Scholarship Fund's revenue has grown by 129%, moving from $15K to $35K. Total assets increased by 264.9% over the same period, from $102K to $373K. Total functional expenses rose by 153.2%, from $15K to $38K. In its most recent filing year (2022), Sumner O Hancock Scholarship Fund reported a deficit of $3K, with expenses exceeding revenue. The organization holds $1 in liabilities against $373K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $373K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2022 | $35K | $38K | $373K | $1 | — | — |
| 2021 | $38K | $48K | $378K | $1 | — | — |
| 2020 | $25K | $27K | $390K | $1 | — | View 990 |
| 2019 | $28K | $29K | $394K | $1 | — | View 990 |
| 2015 | $15K | $18K | $89K | $1 | — | View 990 |
| 2014 | $12K | $9K | $92K | $0 | — | View 990 |
| 2013 | $12K | $15K | $91K | $0 | — | View 990 |
| 2012 | $7K | $13K | $96K | $0 | — | View 990 |
| 2011 | $15K | $15K | $102K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2022: Revenue of $35K, expenses of $38K, and assets of $373K (revenue -6.4% year-over-year).
- 2021: Revenue of $38K, expenses of $48K, and assets of $378K (revenue +48.8% year-over-year).
- 2020: Revenue of $25K, expenses of $27K, and assets of $390K (revenue -10.5% year-over-year).
- 2019: Revenue of $28K, expenses of $29K, and assets of $394K (revenue +85.9% year-over-year).
- 2015: Revenue of $15K, expenses of $18K, and assets of $89K (revenue +30.9% year-over-year).
- 2014: Revenue of $12K, expenses of $9K, and assets of $92K (revenue -5.2% year-over-year).
- 2013: Revenue of $12K, expenses of $15K, and assets of $91K (revenue +78.5% year-over-year).
- 2012: Revenue of $7K, expenses of $13K, and assets of $96K (revenue -55.4% year-over-year).
- 2011: Revenue of $15K, expenses of $15K, and assets of $102K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Sumner O Hancock Scholarship Fund:
Data Sources and Methodology
This transparency report for Sumner O Hancock Scholarship Fund 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.