King-thomas Scholarship Trust

Nonprofit profile at a glance

EIN
016162280
IRS 990 coverage
2010–2025
Forms available
Form 990 2025
Location
Ashland, ME, USA
Phone
2074353661
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Reported finances

Revenue
$121,276
Expenses
$92,000
Assets
$1,730,934
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

6 people listed

People named in this filing

  • SUSAN BEAULIEU (SELECTION CO)
  • SARAH BUSHEY (SELECTION CO)
  • JOEL HALL (SELECTION CO)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To hold and manage assets and distribute the earnings as scholarships to graduates of msad 32 who pursue post-secondary education.

What it reported doing in 2025

In 2025, the trust distributed 92,000 of its earnings to 17 msad 32 students who chose to pursue post-secondary education.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 76
  • Transparency & Controls: 86
  • Accountability: 76
  • Sustainability: 80
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 75.9%; rating input score 76
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90%; rating input score 90; 10th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 81st percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 24.1%; rating input score 75; 75th percentile among comparable filings
  • Total-asset coverage ratio: 18.81; rating input score 95; 95th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 77; 77th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 67; 67th percentile among comparable filings

Growth

  • Program expense growth: 5.5% per year; rating input score 100; 53rd percentile among comparable filings
  • Revenue growth: -1.4% per year; rating input score 0; 15th percentile among comparable filings
  • Asset growth: 2.3% per year; rating input score 100; 32nd percentile among comparable filings

Details

  • Where the money goes: 75.9% of revenue deployed · 100% of spending went to programs
  • Governance: 5 of 5 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $92K in reported program spending
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 12 of 13 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules · includes grants
  • Filing history: 16 filing years from 2010 to 2025
  • Contacts: How to reach this organization
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.