The Trustees Of Fryeburg Academy
Fryeburg Academy maintains stable finances with growing assets and no reported officer compensation.
EIN: 10211505 · Fryeburg, ME · NTEE: B25Z · Updated: 2026-03-28
Is The Trustees Of Fryeburg Academy Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
The Trustees Of Fryeburg Academy directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About The Trustees Of Fryeburg Academy
The Trustees Of Fryeburg Academy (EIN: 10211505) is a nonprofit organization based in Fryeburg, ME, classified under NTEE code B25Z. The organization reported total revenue of $30.5M and total assets of $78.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of The Trustees Of Fryeburg Academy's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
The Trustees Of Fryeburg Academy is a large nonprofit that has been operating for 87 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 1.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $21.3M |
| Total Expenses | $21.2M |
| Surplus / Deficit | +$41K |
| Total Assets | $75.2M |
| Total Liabilities | $9.6M |
| Net Assets | $65.5M |
| Operating Margin | 0.2% |
| Debt-to-Asset Ratio | 12.8% |
| Months of Reserves | 42.5 months |
Financial Health Grade: A
In 2023, The Trustees Of Fryeburg Academy reported a surplus of $41K with revenue exceeding expenses, holds 42.5 months of operating reserves (strong position), has a debt-to-asset ratio of 12.8% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), The Trustees Of Fryeburg Academy's revenue has grown at a compound annual growth rate (CAGR) of 1.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +14.6% | +23.4% | +1.5% |
| 2022 | -10.5% | +15.7% | -6.7% |
| 2021 | +35.3% | +0.5% | +13.4% |
| 2020 | -5.8% | +5.3% | +1.3% |
| 2019 | -37.6% | -2.8% | +3.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 1939 |
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 Trustees Of Fryeburg Academy with a Mission Score of 85 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, The Trustees Of Fryeburg Academy 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.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $41K, with revenue exceeding expenses.
- Debt-to-asset ratio: 12.8%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, which is highly unusual for an organization of its size with assets of $75,166,489 and revenues of over $21 million. This suggests that key leadership may be compensated through other roles or that the board operates on a purely volunteer basis, which could be a significant positive for donor perception.
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 Trustees Of Fryeburg Academy's IRS 990 filings:
- Lack of detailed breakdown for program, administrative, and fundraising expenses in provided summary data, making precise efficiency analysis difficult.
- Consistent 0% officer compensation reported, which is unusual for an organization of this scale and could indicate compensation is categorized elsewhere, potentially obscuring full executive remuneration.
Strengths
The following positive indicators were identified for The Trustees Of Fryeburg Academy:
- Strong asset growth, increasing from $50,466,752 in 201406 to $75,166,489 in 202306, indicating robust financial management.
- Consistent operational balance, with expenses closely matching revenue (e.g., $21,265,735 revenue vs. $21,224,969 expenses in 202306), suggesting efficient resource utilization.
- No reported officer compensation across all filings, which can be a strong indicator of low overhead and dedication to mission if leadership is truly uncompensated or compensated through other non-officer roles.
- Stable liabilities relative to growing assets, indicating responsible debt management.
Frequently Asked Questions about The Trustees Of Fryeburg Academy
Is The Trustees Of Fryeburg Academy a legitimate charity?
Based on AI analysis of IRS 990 filings, The Trustees Of Fryeburg Academy (EIN: 10211505) some concerns. Mission Score: 85/100. 2 red flags identified, 4 strengths noted.
How does The Trustees Of Fryeburg Academy spend its money?
The Trustees Of Fryeburg Academy directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to The Trustees Of Fryeburg Academy tax-deductible?
The Trustees Of Fryeburg Academy is registered as a tax-exempt nonprofit (EIN: 10211505). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is The Trustees Of Fryeburg Academy a good charity?
Based on the available financial data, the organization appears to be financially sound with growing assets and a history of managing expenses effectively. The consistent reporting of 0% officer compensation is a strong positive indicator of efficient resource allocation, assuming leadership is compensated appropriately through other means or volunteers their time.
How has Fryeburg Academy's financial health changed over time?
Fryeburg Academy's financial health has improved significantly over the past decade. Assets have grown from $50,466,752 in 201406 to $75,166,489 in 202306, and revenues have generally increased, demonstrating strong financial management and growth.
What is the organization's approach to executive compensation?
The organization consistently reports 0% officer compensation in its IRS 990 filings. This suggests that either the officers are uncompensated volunteers, or their compensation is reported under different categories, which would require further investigation to fully understand.
Filing History
IRS 990 filing history for The Trustees Of Fryeburg Academy showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), The Trustees Of Fryeburg Academy's revenue has grown by 12.2%, moving from $19.0M to $21.3M. Total assets increased by 64.3% over the same period, from $45.7M to $75.2M. Total functional expenses rose by 64.8%, from $12.9M to $21.2M. In its most recent filing year (2023), The Trustees Of Fryeburg Academy reported a surplus of $41K, with revenue exceeding expenses. The organization holds $9.6M in liabilities against $75.2M in assets (debt-to-asset ratio: 12.8%), resulting in net assets of $65.5M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $21.3M | $21.2M | $75.2M | $9.6M | — | View 990 |
| 2022 | $18.6M | $17.2M | $74.0M | $10.6M | — | View 990 |
| 2021 | $20.7M | $14.9M | $79.3M | $10.1M | — | View 990 |
| 2020 | $15.3M | $14.8M | $70.0M | $9.7M | — | View 990 |
| 2019 | $16.3M | $14.0M | $69.1M | $8.0M | — | View 990 |
| 2018 | $26.0M | $14.4M | $66.8M | $8.6M | — | View 990 |
| 2017 | $16.8M | $14.4M | $56.0M | $9.3M | — | View 990 |
| 2016 | $16.6M | $14.5M | $51.0M | $8.6M | — | View 990 |
| 2015 | $16.5M | $15.1M | $50.7M | $9.4M | — | View 990 |
| 2014 | $15.7M | $15.4M | $50.5M | $10.1M | — | View 990 |
| 2013 | $16.3M | $16.1M | $46.4M | $7.7M | — | View 990 |
| 2012 | $13.0M | $13.9M | $46.2M | $7.7M | — | View 990 |
| 2011 | $19.0M | $12.9M | $45.7M | $6.4M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $21.3M, expenses of $21.2M, and assets of $75.2M (revenue +14.6% year-over-year).
- 2022: Revenue of $18.6M, expenses of $17.2M, and assets of $74.0M (revenue -10.5% year-over-year).
- 2021: Revenue of $20.7M, expenses of $14.9M, and assets of $79.3M (revenue +35.3% year-over-year).
- 2020: Revenue of $15.3M, expenses of $14.8M, and assets of $70.0M (revenue -5.8% year-over-year).
- 2019: Revenue of $16.3M, expenses of $14.0M, and assets of $69.1M (revenue -37.6% year-over-year).
- 2018: Revenue of $26.0M, expenses of $14.4M, and assets of $66.8M (revenue +54.7% year-over-year).
- 2017: Revenue of $16.8M, expenses of $14.4M, and assets of $56.0M (revenue +1.7% year-over-year).
- 2016: Revenue of $16.6M, expenses of $14.5M, and assets of $51.0M (revenue +0.6% year-over-year).
- 2015: Revenue of $16.5M, expenses of $15.1M, and assets of $50.7M (revenue +5.2% year-over-year).
- 2014: Revenue of $15.7M, expenses of $15.4M, and assets of $50.5M (revenue -3.7% year-over-year).
- 2013: Revenue of $16.3M, expenses of $16.1M, and assets of $46.4M (revenue +24.7% year-over-year).
- 2012: Revenue of $13.0M, expenses of $13.9M, and assets of $46.2M (revenue -31.2% year-over-year).
- 2011: Revenue of $19.0M, expenses of $12.9M, and assets of $45.7M.
Data Sources and Methodology
This transparency report for The Trustees Of Fryeburg Academy 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.