Waterville Historical Society
Waterville Historical Society maintains stable finances with zero officer compensation and a strong asset base.
EIN: 16010923 · Waterville, ME · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $48K |
| Total Expenses | $41K |
| Program Spending | 90% |
| Net Assets | $366K |
| Transparency Score | 85/100 |
Is Waterville Historical Society Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Waterville Historical Society directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Waterville Historical Society
Waterville Historical Society (EIN: 16010923) is a nonprofit organization based in Waterville, ME. The organization reported total revenue of $48K and total assets of $508K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Waterville Historical Society's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Waterville Historical Society is a micro nonprofit that has been operating for 84 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -5.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $11K |
| Total Expenses | $41K |
| Surplus / Deficit | $-30,416 |
| Total Assets | $366K |
| Net Assets | $366K |
| Operating Margin | -278.0% |
| Months of Reserves | 106.3 months |
Financial Health Grade: B
In 2023, Waterville Historical Society reported a deficit of $30K with expenses exceeding revenue, holds 106.3 months of operating reserves (strong position).
Financial Trends
Over 13 years of filings (2011–2023), Waterville Historical Society's revenue has declined at a compound annual growth rate (CAGR) of -5.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -77.7% | +1.6% | -7.8% |
| 2022 | -23.9% | -25.5% | -10.1% |
| 2021 | +39.8% | +5.2% | +11.6% |
| 2020 | -61.3% | -1.4% | -2.5% |
| 2019 | +153.2% | -10.2% | +11.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 1942 |
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 Waterville Historical Society 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: 90%
- fundraising: 0%
According to IRS 990 filings, Waterville Historical Society 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 (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $30K, with expenses exceeding revenue.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that the organization is likely run by volunteers or has a very lean, non-salaried leadership structure, which is commendable for a small nonprofit.
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 Waterville Historical Society's IRS 990 filings:
- Revenue fluctuations: While assets are strong, revenue has varied significantly, from $10,942 in 2023 to $119,361 in 2019, which could pose challenges for consistent program planning if not managed with reserves.
Strengths
The following positive indicators were identified for Waterville Historical Society:
- Strong asset base: The organization holds significant assets, reaching $507,663, providing financial stability.
- Zero officer compensation: Consistently reporting 0% officer compensation indicates a highly efficient, mission-focused operation.
- No liabilities: The organization has consistently reported zero liabilities in recent years, demonstrating excellent financial health and no debt burden.
- Consistent IRS 990 filings: 13 filings demonstrate a commitment to transparency and compliance.
- Prudent expense management: Expenses are kept within reasonable bounds relative to revenue and assets.
Frequently Asked Questions about Waterville Historical Society
Is Waterville Historical Society a legitimate charity?
Waterville Historical Society (EIN: 16010923) is a registered tax-exempt nonprofit based in Maine. Our AI analysis gives it a Mission Score of 85/100. It has 13 years of IRS 990 filings on record. Total revenue: $48K. 1 red flag identified. 5 strengths noted. Financial health grade: B.
How does Waterville Historical Society spend its money?
Waterville Historical Society directs 90% of its spending to programs and services. This exceeds the 65% industry benchmark.
Are donations to Waterville Historical Society tax-deductible?
Waterville Historical Society is registered as a tax-exempt nonprofit (EIN: 16010923). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Waterville Historical Society located?
Waterville Historical Society is headquartered in Waterville, Maine and files with the IRS under EIN 16010923.
How many years of IRS 990 filings does Waterville Historical Society have?
Waterville Historical 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 $48K in total revenue.
Is Waterville Historical Society a good charity?
Based on the available financial data, the Waterville Historical Society appears to be a good charity. It maintains a strong asset base ($507,663 latest), consistently reports 0% officer compensation, and has zero liabilities in recent years, indicating sound financial management and a focus on its mission.
How does the organization manage its expenses?
The organization manages its expenses prudently, with annual expenses typically ranging from $30,000 to $50,000. The consistent reporting of 0% officer compensation suggests a highly efficient, possibly volunteer-driven, operational model that minimizes administrative overhead.
What is the trend in the organization's assets?
The organization's assets have shown a positive trend, growing from $375,216 in 2014 to $507,663 in the latest period, despite some fluctuations. This indicates a healthy accumulation of resources over time.
Filing History
IRS 990 filing history for Waterville Historical Society showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Waterville Historical Society's revenue has declined by 51.5%, moving from $23K to $11K. Total assets decreased by 2.1% over the same period, from $374K to $366K. Total functional expenses rose by 13.1%, from $37K to $41K. In its most recent filing year (2023), Waterville Historical Society reported a deficit of $30K, with expenses exceeding revenue.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $11K | $41K | $366K | $0 | — | View 990 |
| 2022 | $49K | $41K | $397K | $0 | — | View 990 |
| 2021 | $65K | $55K | $442K | $344 | — | View 990 |
| 2020 | $46K | $52K | $396K | $344 | — | View 990 |
| 2019 | $119K | $53K | $406K | $319 | — | View 990 |
| 2018 | $47K | $59K | $365K | $227 | — | View 990 |
| 2017 | $35K | $38K | $372K | $212 | — | View 990 |
| 2016 | $21K | $44K | $341K | $0 | — | View 990 |
| 2015 | $30K | $34K | $375K | $0 | — | View 990 |
| 2014 | $25K | $36K | $375K | $0 | — | View 990 |
| 2013 | $74K | $34K | $365K | $0 | — | View 990 |
| 2012 | $23K | $36K | $341K | $0 | — | View 990 |
| 2011 | $23K | $37K | $374K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $11K, expenses of $41K, and assets of $366K (revenue -77.7% year-over-year).
- 2022: Revenue of $49K, expenses of $41K, and assets of $397K (revenue -23.9% year-over-year).
- 2021: Revenue of $65K, expenses of $55K, and assets of $442K (revenue +39.8% year-over-year).
- 2020: Revenue of $46K, expenses of $52K, and assets of $396K (revenue -61.3% year-over-year).
- 2019: Revenue of $119K, expenses of $53K, and assets of $406K (revenue +153.2% year-over-year).
- 2018: Revenue of $47K, expenses of $59K, and assets of $365K (revenue +34.3% year-over-year).
- 2017: Revenue of $35K, expenses of $38K, and assets of $372K (revenue +64.2% year-over-year).
- 2016: Revenue of $21K, expenses of $44K, and assets of $341K (revenue -29.2% year-over-year).
- 2015: Revenue of $30K, expenses of $34K, and assets of $375K (revenue +19.4% year-over-year).
- 2014: Revenue of $25K, expenses of $36K, and assets of $375K (revenue -66.0% year-over-year).
- 2013: Revenue of $74K, expenses of $34K, and assets of $365K (revenue +223.5% year-over-year).
- 2012: Revenue of $23K, expenses of $36K, and assets of $341K (revenue +1.7% year-over-year).
- 2011: Revenue of $23K, expenses of $37K, and assets of $374K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Waterville Historical Society:
Data Sources and Methodology
This transparency report for Waterville Historical 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.