Swans Island Educational Society
Swans Island Educational Society consistently operates at a deficit, drawing down assets over the past decade.
EIN: 10317540 · Swans Island, ME · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $88K |
| Total Expenses | $102K |
| Program Spending | 75% |
| Net Assets | $899K |
| Transparency Score | 60/100 |
Is Swans Island Educational Society Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Swans Island Educational Society directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Swans Island Educational Society
Swans Island Educational Society (EIN: 10317540) is a nonprofit organization based in Swans Island, ME. The organization reported total revenue of $88K and total assets of $894K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Swans Island Educational Society's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Swans Island Educational Society is a micro nonprofit that has been operating for 52 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -13.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $81K |
| Total Expenses | $102K |
| Surplus / Deficit | $-21,332 |
| Total Assets | $903K |
| Total Liabilities | $4K |
| Net Assets | $899K |
| Operating Margin | -26.3% |
| Debt-to-Asset Ratio | 0.4% |
| Months of Reserves | 105.8 months |
Financial Health Grade: B
In 2023, Swans Island Educational Society reported a deficit of $21K with expenses exceeding revenue, holds 105.8 months of operating reserves (strong position), has a debt-to-asset ratio of 0.4% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Swans Island Educational Society's revenue has declined at a compound annual growth rate (CAGR) of -13.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -6.4% | +1.1% | -2.3% |
| 2022 | +52.2% | +25.8% | -1.5% |
| 2021 | -19.6% | -3.4% | -2.4% |
| 2020 | +22.8% | -21.2% | -1.2% |
| 2019 | -30.8% | +1.5% | -4.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1974 |
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 Swans Island Educational Society with a Mission Score of 60 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: 75%
- fundraising: 10%
According to IRS 990 filings, Swans Island Educational Society allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% 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 $21K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.4%.
Executive Compensation Analysis
The organization reports 0% officer compensation across all available filings, indicating that executive leadership is either unpaid or compensated through other means not classified as officer compensation, which is positive for minimizing overhead.
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 Swans Island Educational Society's IRS 990 filings:
- Consistent operating deficits (expenses exceeding revenue in all reported years)
- Steady decline in total assets over the past decade (from $1.15M to $0.9M)
- Reliance on asset draw to cover operational expenses
Strengths
The following positive indicators were identified for Swans Island Educational Society:
- Consistent IRS 990 filing history (13 filings)
- No reported officer compensation, indicating low executive overhead
- Relatively low liabilities compared to assets
Frequently Asked Questions about Swans Island Educational Society
Is Swans Island Educational Society a legitimate charity?
Based on AI analysis of IRS 990 filings, Swans Island Educational Society (EIN: 10317540) some concerns. Mission Score: 60/100. 3 red flags identified, 3 strengths noted.
How does Swans Island Educational Society spend its money?
Swans Island Educational Society directs 75% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Swans Island Educational Society tax-deductible?
Swans Island Educational Society is registered as a tax-exempt nonprofit (EIN: 10317540). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Swans Island Educational Society's spending goes to programs?
Swans Island Educational Society directs 75% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Swans Island Educational Society located?
Swans Island Educational Society is headquartered in Swans Island, Maine and files with the IRS under EIN 10317540.
How many years of IRS 990 filings does Swans Island Educational Society have?
Swans Island Educational Society 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 $88K in total revenue.
Is Swans Island Educational Society financially sustainable in the long term?
The organization's consistent operating deficits, with expenses exceeding revenue in every reported year (e.g., $102,353 expenses vs. $81,021 revenue in 2023), raise significant concerns about its long-term financial sustainability without a change in strategy.
What is the specific breakdown of program vs. administrative expenses?
The provided data does not offer a detailed breakdown of program, administrative, and fundraising expenses, making it difficult to fully assess spending efficiency beyond the overall deficit.
Why have the organization's assets been steadily declining?
Assets have declined from $1,147,799 in 2014 to $902,590 in 2023, primarily due to the organization consistently spending more than its annual revenue, necessitating a draw from its reserves to cover operational costs.
Does the organization have a plan to address its recurring deficits?
The provided data does not indicate whether the organization has a specific plan to address its recurring deficits, which have been present for at least the last 10 years.
Filing History
IRS 990 filing history for Swans Island Educational Society showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Swans Island Educational Society's revenue has declined by 82.3%, moving from $457K to $81K. Total assets decreased by 32.2% over the same period, from $1.3M to $903K. Total functional expenses rose by 1.6%, from $101K to $102K. In its most recent filing year (2023), Swans Island Educational Society reported a deficit of $21K, with expenses exceeding revenue. The organization holds $4K in liabilities against $903K in assets (debt-to-asset ratio: 0.4%), resulting in net assets of $899K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $81K | $102K | $903K | $4K | — | — |
| 2022 | $87K | $101K | $924K | $4K | — | View 990 |
| 2021 | $57K | $80K | $938K | $3K | — | — |
| 2020 | $71K | $83K | $961K | $3K | — | View 990 |
| 2019 | $58K | $106K | $973K | $2K | — | View 990 |
| 2018 | $83K | $104K | $1.0M | $2K | — | View 990 |
| 2017 | $76K | $121K | $1.0M | $1K | — | — |
| 2016 | $75K | $125K | $1.1M | $888 | — | View 990 |
| 2015 | $113K | $124K | $1.1M | $1K | — | View 990 |
| 2014 | $77K | $128K | $1.1M | $875 | — | View 990 |
| 2013 | $86K | $140K | $1.2M | $805 | — | View 990 |
| 2012 | $65K | $144K | $1.3M | $874 | — | View 990 |
| 2011 | $457K | $101K | $1.3M | $196 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $81K, expenses of $102K, and assets of $903K (revenue -6.4% year-over-year).
- 2022: Revenue of $87K, expenses of $101K, and assets of $924K (revenue +52.2% year-over-year).
- 2021: Revenue of $57K, expenses of $80K, and assets of $938K (revenue -19.6% year-over-year).
- 2020: Revenue of $71K, expenses of $83K, and assets of $961K (revenue +22.8% year-over-year).
- 2019: Revenue of $58K, expenses of $106K, and assets of $973K (revenue -30.8% year-over-year).
- 2018: Revenue of $83K, expenses of $104K, and assets of $1.0M (revenue +9.0% year-over-year).
- 2017: Revenue of $76K, expenses of $121K, and assets of $1.0M (revenue +2.4% year-over-year).
- 2016: Revenue of $75K, expenses of $125K, and assets of $1.1M (revenue -34.0% year-over-year).
- 2015: Revenue of $113K, expenses of $124K, and assets of $1.1M (revenue +46.5% year-over-year).
- 2014: Revenue of $77K, expenses of $128K, and assets of $1.1M (revenue -10.5% year-over-year).
- 2013: Revenue of $86K, expenses of $140K, and assets of $1.2M (revenue +31.7% year-over-year).
- 2012: Revenue of $65K, expenses of $144K, and assets of $1.3M (revenue -85.7% year-over-year).
- 2011: Revenue of $457K, expenses of $101K, and assets of $1.3M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Swans Island Educational Society:
Data Sources and Methodology
This transparency report for Swans Island Educational Society 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.