The Clarence E Mulford Trust
The Clarence E Mulford Trust consistently operates with minimal overhead, distributing funds from a stable asset base.
EIN: 10247548 · Fryeburg, ME · Updated: 2026-03-28
Is The Clarence E Mulford Trust Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
The Clarence E Mulford Trust directs 95% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About The Clarence E Mulford Trust
The Clarence E Mulford Trust (EIN: 10247548) is a nonprofit organization based in Fryeburg, ME. The organization reported total revenue of $1.4M and total assets of $4.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of The Clarence E Mulford Trust's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
The Clarence E Mulford Trust is a mid-size nonprofit that has been operating for 61 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 1.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $635K |
| Total Expenses | $806K |
| Surplus / Deficit | $-170,491 |
| Total Assets | $4.6M |
| Total Liabilities | $1 |
| Net Assets | $4.6M |
| Operating Margin | -26.8% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 68.7 months |
Financial Health Grade: B
In 2023, The Clarence E Mulford Trust reported a deficit of $170K with expenses exceeding revenue, holds 68.7 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), The Clarence E Mulford Trust's revenue has grown at a compound annual growth rate (CAGR) of 1.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -20.4% | -3.4% | -4.7% |
| 2022 | -15.5% | +7.3% | -1.1% |
| 2021 | +122.7% | +14.3% | +5.2% |
| 2020 | -15.1% | -1.8% | -5.3% |
| 2019 | -15.1% | +2.8% | -9.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1965 |
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 The Clarence E Mulford Trust 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: 5%
- programs: 95%
- fundraising: 0%
According to IRS 990 filings, The Clarence E Mulford Trust allocates its expenses as follows: admin: 5%, programs: 95%, fundraising: 0%. With 95% 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 $170K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating a volunteer-led or extremely low-cost administrative structure, which is highly efficient for an organization with assets around $4.7 million.
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 The Clarence E Mulford Trust's IRS 990 filings:
- Lack of specific NTEE code or detailed program descriptions in provided data
Strengths
The following positive indicators were identified for The Clarence E Mulford Trust:
- Consistent 0% officer compensation, indicating extremely low administrative overhead
- Stable asset base, consistently around $4.5-$5.5 million over a decade
- Regular IRS 990 filings demonstrating transparency
- Likely high program spending ratio given minimal administrative costs
Frequently Asked Questions about The Clarence E Mulford Trust
Is The Clarence E Mulford Trust a legitimate charity?
Based on AI analysis of IRS 990 filings, The Clarence E Mulford Trust (EIN: 10247548) some concerns. Mission Score: 90/100. 1 red flag identified, 4 strengths noted.
How does The Clarence E Mulford Trust spend its money?
The Clarence E Mulford Trust directs 95% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to The Clarence E Mulford Trust tax-deductible?
The Clarence E Mulford Trust is registered as a tax-exempt nonprofit (EIN: 10247548). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What specific programs or causes does The Clarence E Mulford Trust support?
The provided data does not specify the NTEE code or detailed program descriptions, making it unclear what specific programs or causes the trust supports. Further investigation into their public records or website would be needed.
How does the trust manage to have 0% officer compensation?
The 0% officer compensation suggests that the trust is either managed by volunteers, or the compensation for its officers is covered by another entity, or it's structured in a way that direct officer salaries are not reported in this section of the 990.
Is the consistent expense exceeding revenue a concern for the trust's long-term viability?
While expenses have exceeded revenue in several recent years (e.g., 2023: $805,805 expenses vs. $635,314 revenue), the trust maintains a substantial and relatively stable asset base (e.g., $4,614,199 in 2023). This pattern is common for grant-making trusts that distribute funds from an endowment, suggesting it's a planned operational model rather than a sign of financial distress.
Filing History
IRS 990 filing history for The Clarence E Mulford Trust showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), The Clarence E Mulford Trust's revenue has grown by 13.7%, moving from $559K to $635K. Total assets decreased by 9% over the same period, from $5.1M to $4.6M. Total functional expenses rose by 53.8%, from $524K to $806K. In its most recent filing year (2023), The Clarence E Mulford Trust reported a deficit of $170K, with expenses exceeding revenue. The organization holds $1 in liabilities against $4.6M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $4.6M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $635K | $806K | $4.6M | $1 | — | View 990 |
| 2022 | $798K | $834K | $4.8M | $1 | — | View 990 |
| 2021 | $945K | $777K | $4.9M | $1 | — | View 990 |
| 2020 | $424K | $680K | $4.7M | $1 | — | View 990 |
| 2019 | $499K | $692K | $4.9M | $0 | — | View 990 |
| 2015 | $588K | $673K | $5.5M | $0 | — | View 990 |
| 2014 | $690K | $674K | $5.5M | $0 | — | View 990 |
| 2013 | $945K | $637K | $5.5M | $0 | — | View 990 |
| 2012 | $586K | $539K | $5.1M | $0 | — | View 990 |
| 2011 | $559K | $524K | $5.1M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $635K, expenses of $806K, and assets of $4.6M (revenue -20.4% year-over-year).
- 2022: Revenue of $798K, expenses of $834K, and assets of $4.8M (revenue -15.5% year-over-year).
- 2021: Revenue of $945K, expenses of $777K, and assets of $4.9M (revenue +122.7% year-over-year).
- 2020: Revenue of $424K, expenses of $680K, and assets of $4.7M (revenue -15.1% year-over-year).
- 2019: Revenue of $499K, expenses of $692K, and assets of $4.9M (revenue -15.1% year-over-year).
- 2015: Revenue of $588K, expenses of $673K, and assets of $5.5M (revenue -14.7% year-over-year).
- 2014: Revenue of $690K, expenses of $674K, and assets of $5.5M (revenue -27.0% year-over-year).
- 2013: Revenue of $945K, expenses of $637K, and assets of $5.5M (revenue +61.2% year-over-year).
- 2012: Revenue of $586K, expenses of $539K, and assets of $5.1M (revenue +4.9% year-over-year).
- 2011: Revenue of $559K, expenses of $524K, and assets of $5.1M.
Data Sources and Methodology
This transparency report for The Clarence E Mulford 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.