Trustees Of Thornton Academy
Thornton Academy maintains strong financial growth and consistent operating surpluses over a decade.
EIN: 10224769 · Saco, ME · NTEE: B25Z · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $33.8M |
| Total Expenses | $30.2M |
| Program Spending | 80% |
| CEO/Top Officer Pay | $30 |
| Net Assets | $36.6M |
| Transparency Score | 75/100 |
Is Trustees Of Thornton Academy Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Trustees Of Thornton Academy directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Trustees Of Thornton Academy
Trustees Of Thornton Academy (EIN: 10224769) is a nonprofit organization based in Saco, ME, classified under NTEE code B25Z. The organization reported total revenue of $33.8M and total assets of $62.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Trustees Of Thornton Academy's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Trustees Of Thornton Academy is a large nonprofit that has been operating for 75 years, with 12 years of IRS 990 filings on record (2012–2023). Revenue has grown at a compound annual rate of 5.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $33.1M |
| Total Expenses | $30.2M |
| Surplus / Deficit | +$2.9M |
| Total Assets | $59.4M |
| Total Liabilities | $22.8M |
| Net Assets | $36.6M |
| Operating Margin | 8.7% |
| Debt-to-Asset Ratio | 38.4% |
| Months of Reserves | 23.6 months |
Financial Health Grade: A
In 2023, Trustees Of Thornton Academy reported a surplus of $2.9M with revenue exceeding expenses, holds 23.6 months of operating reserves (strong position), has a debt-to-asset ratio of 38.4% (moderate leverage).
Financial Trends
Over 12 years of filings (2012–2023), Trustees Of Thornton Academy's revenue has grown at a compound annual growth rate (CAGR) of 5.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +6.6% | +0.2% | +5.3% |
| 2022 | -10.7% | +5.4% | -3.0% |
| 2021 | +8.5% | -7.5% | +3.8% |
| 2020 | -1.7% | -0.7% | +3.7% |
| 2019 | +11.3% | +19.1% | -2.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 1951 |
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 Trustees Of Thornton Academy with a Mission Score of 75 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: 80%
- fundraising: 5%
According to IRS 990 filings, Trustees Of Thornton Academy allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% 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 $2.9M, with revenue exceeding expenses.
- Debt-to-asset ratio: 38.4%.
Executive Compensation Analysis
The IRS 990 filings consistently report 0% for officer compensation, which is highly unusual for an organization with annual revenues exceeding $30 million and suggests that executive compensation may be reported under other expense categories or that officers are compensated through an affiliated entity.
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 Trustees Of Thornton Academy's IRS 990 filings:
- Consistent 0% officer compensation reported on 990s, which is unusual for an organization of this size and revenue, potentially obscuring executive pay details.
Strengths
The following positive indicators were identified for Trustees Of Thornton Academy:
- Consistent operating surpluses, with revenues exceeding expenses in all reported periods (e.g., $33,117,795 revenue vs. $30,229,155 expenses in 2023).
- Strong asset growth, increasing from $38,964,224 in 2014 to $59,395,279 in 2023, indicating robust financial health.
- Stable and growing revenue streams over a decade, demonstrating financial resilience.
- Regular and consistent filing of IRS Form 990s, indicating a commitment to public disclosure.
Frequently Asked Questions about Trustees Of Thornton Academy
Is Trustees Of Thornton Academy a legitimate charity?
Based on AI analysis of IRS 990 filings, Trustees Of Thornton Academy (EIN: 10224769) some concerns. Mission Score: 75/100. 1 red flag identified, 4 strengths noted.
How does Trustees Of Thornton Academy spend its money?
Trustees Of Thornton Academy directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Trustees Of Thornton Academy tax-deductible?
Trustees Of Thornton Academy is registered as a tax-exempt nonprofit (EIN: 10224769). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Trustees Of Thornton Academy CEO make?
Trustees Of Thornton Academy's highest-compensated officer earns $30 annually. The organization reported $33.8M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Trustees Of Thornton Academy's spending goes to programs?
Trustees Of Thornton Academy directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Trustees Of Thornton Academy compare to similar nonprofits?
With a transparency score of 75/100 (Good), Trustees Of Thornton Academy is above average for NTEE category B25Z nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Trustees Of Thornton Academy located?
Trustees Of Thornton Academy is headquartered in Saco, Maine and files with the IRS under EIN 10224769. It is classified under NTEE code B25Z.
How many years of IRS 990 filings does Trustees Of Thornton Academy have?
Trustees Of Thornton Academy has 12 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 $33.8M in total revenue.
Is Trustees Of Thornton Academy a good charity?
Based on its consistent financial health, growing assets, and regular IRS 990 filings, Trustees Of Thornton Academy appears to be a financially stable organization. However, the lack of reported officer compensation on the 990s warrants further investigation for complete transparency.
How has the organization's financial health changed over time?
The organization has shown consistent financial growth, with revenues increasing from $21,399,900 in 2014 to $33,117,795 in 2023, and assets growing from $38,964,224 to $59,395,279 over the same period, indicating robust financial management.
What is the organization's approach to executive compensation?
The IRS 990 filings consistently report 0% for officer compensation. This suggests that executive compensation is either not paid to officers in a way that requires direct reporting in this section, or it is reported under other expense categories, which could impact transparency.
Filing History
IRS 990 filing history for Trustees Of Thornton Academy showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2012–2023), Trustees Of Thornton Academy's revenue has grown by 77.1%, moving from $18.7M to $33.1M. Total assets increased by 78.1% over the same period, from $33.3M to $59.4M. Total functional expenses rose by 61.5%, from $18.7M to $30.2M. In its most recent filing year (2023), Trustees Of Thornton Academy reported a surplus of $2.9M, with revenue exceeding expenses. The organization holds $22.8M in liabilities against $59.4M in assets (debt-to-asset ratio: 38.4%), resulting in net assets of $36.6M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $33.1M | $30.2M | $59.4M | $22.8M | — | View 990 |
| 2022 | $31.1M | $30.2M | $56.4M | $23.5M | — | View 990 |
| 2021 | $34.8M | $28.6M | $58.2M | $23.8M | — | View 990 |
| 2020 | $32.0M | $31.0M | $56.0M | $28.8M | — | View 990 |
| 2019 | $32.6M | $31.2M | $54.0M | $27.5M | — | View 990 |
| 2018 | $29.3M | $26.2M | $55.2M | $30.3M | — | View 990 |
| 2017 | $26.4M | $24.3M | $52.4M | $30.6M | — | View 990 |
| 2016 | $23.1M | $23.0M | $43.4M | $24.6M | — | View 990 |
| 2015 | $23.3M | $21.8M | $40.4M | $21.3M | — | View 990 |
| 2014 | $21.4M | $20.5M | $39.0M | $20.9M | — | View 990 |
| 2013 | $20.0M | $19.0M | $34.0M | $17.7M | — | View 990 |
| 2012 | $18.7M | $18.7M | $33.3M | $18.7M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $33.1M, expenses of $30.2M, and assets of $59.4M (revenue +6.6% year-over-year).
- 2022: Revenue of $31.1M, expenses of $30.2M, and assets of $56.4M (revenue -10.7% year-over-year).
- 2021: Revenue of $34.8M, expenses of $28.6M, and assets of $58.2M (revenue +8.5% year-over-year).
- 2020: Revenue of $32.0M, expenses of $31.0M, and assets of $56.0M (revenue -1.7% year-over-year).
- 2019: Revenue of $32.6M, expenses of $31.2M, and assets of $54.0M (revenue +11.3% year-over-year).
- 2018: Revenue of $29.3M, expenses of $26.2M, and assets of $55.2M (revenue +10.8% year-over-year).
- 2017: Revenue of $26.4M, expenses of $24.3M, and assets of $52.4M (revenue +14.4% year-over-year).
- 2016: Revenue of $23.1M, expenses of $23.0M, and assets of $43.4M (revenue -0.6% year-over-year).
- 2015: Revenue of $23.3M, expenses of $21.8M, and assets of $40.4M (revenue +8.7% year-over-year).
- 2014: Revenue of $21.4M, expenses of $20.5M, and assets of $39.0M (revenue +6.8% year-over-year).
- 2013: Revenue of $20.0M, expenses of $19.0M, and assets of $34.0M (revenue +7.1% year-over-year).
- 2012: Revenue of $18.7M, expenses of $18.7M, and assets of $33.3M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Trustees Of Thornton Academy:
Data Sources and Methodology
This transparency report for Trustees Of Thornton 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.