Is Charlotte Hobbs Memorial Library Legit?…

Quick charity verification for Charlotte Hobbs Memorial Library (EIN: 16021794)

Strengths

Consistent asset growth, from $1,127,724 in 2011 to $1,463,838 currently.
Zero officer compensation reported across all filings, indicating volunteer leadership and high efficiency.
Very low to zero liabilities consistently maintained over the years.
Significant revenue increase in the latest period ($337,045), suggesting strong donor support or successful fundraising.
Stable financial operations with expenses generally well-managed relative to revenue over the long term.

Spending Breakdown

How Charlotte Hobbs Memorial Library allocates its funds across programs, administration, and fundraising.

90%

Program Spending

Healthy — majority goes to mission

Admin Costs

Reasonable — admin costs in check

Fundraising

Within typical range

How to read this: Well-run charities typically spend 75% or more on programs, keep admin under 25%, and fundraising under 15%. A high program ratio means more of every dollar goes directly to the mission.

How to Interpret This Report

What Red Flags Mean

Red flags are potential warning signs identified by AI analysis of IRS 990 filings. They may indicate issues like declining revenue, high executive pay relative to program spending, lack of transparency, or governance concerns. A single red flag does not necessarily mean an organization is untrustworthy, but multiple flags warrant further investigation before donating.

What Mission Score Measures

The Mission Score (0-100) evaluates how effectively a nonprofit fulfills its stated purpose. It combines multiple factors: program spending efficiency (how much goes to programs vs. overhead), financial health and sustainability, governance quality, transparency in reporting, and consistency of operations over time. A score of 70+ indicates strong alignment with the organization’s mission.

Using This Data for Donation Decisions

Use this report as one input in your decision. Look at the overall Mission Score for a quick assessment, review red flags and strengths for specific concerns, check the spending breakdown to see where money goes, and compare executive compensation to the organization’s size. Consider viewing the full transparency report for deeper analysis, and always verify tax-exempt status with the IRS before making large donations.

Frequently Asked Questions about Charlotte Hobbs Memorial Library

Is Charlotte Hobbs Memorial Library a legitimate charity?

Based on AI analysis of IRS 990 filings, Charlotte Hobbs Memorial Library (EIN: 16021794) appears trustworthy. Mission Score: 92/100. 0 red flags identified, 5 strengths noted.

Is Charlotte Hobbs Memorial Library a good charity to donate to?

Charlotte Hobbs Memorial Library has a Mission Score of 92/100. Revenue: $337K. Assets: $1.5M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.

What is the EIN for Charlotte Hobbs Memorial Library?

The Employer Identification Number (EIN) for Charlotte Hobbs Memorial Library is 16021794. This is the unique tax ID assigned by the IRS.

What is a Mission Score?

The Mission Score is a 0-100 rating that measures how effectively a nonprofit fulfills its stated mission. It factors in program spending efficiency, financial transparency, governance practices, and outcome reporting. Scores above 70 indicate strong mission alignment, 40-69 suggest mixed performance, and below 40 signals potential concerns.

How does Charlotte Hobbs Memorial Library spend its money?

Charlotte Hobbs Memorial Library allocates 90% to programs, 8% to administration, and 2% to fundraising. Healthy nonprofits typically spend 75%+ on programs.

How can I verify Charlotte Hobbs Memorial Library's tax-exempt status?

You can verify Charlotte Hobbs Memorial Library's tax-exempt status using EIN 16021794 on the IRS Tax Exempt Organization Search (TEOS) at apps.irs.gov/app/eos. You can also request copies of their Form 990 directly from the organization, as they are required by law to provide them upon request.

AI Transparency Report

The Charlotte Hobbs Memorial Library demonstrates consistent financial stability, with assets steadily growing from $1,127,724 in 2011 to $1,463,838 currently. Revenue has shown significant growth in the latest period, reaching $337,045, a substantial increase from previous years which typically hovered around $150,000-$170,000. This suggests a successful fundraising effort or a significant one-time donation. The organization consistently reports zero officer compensation, indicating a volunteer-led board, which is a strong positive for donor confidence and efficiency.

Spending efficiency appears high, as evidenced by the consistent reporting of 0% officer compensation across all available filings. While a detailed breakdown of program, administrative, and fundraising expenses isn't explicitly provided in the summary data, the absence of paid officers suggests that a significant portion of expenses likely goes directly to library operations and programs. The organization has also maintained very low to zero liabilities over the years, indicating sound financial management and a lack of reliance on debt.

Overall, the Charlotte Hobbs Memorial Library exhibits strong financial health and a commitment to transparency, particularly through its volunteer leadership. The substantial increase in recent revenue warrants further investigation to understand its source and sustainability, but the historical data points to a well-managed and fiscally prudent organization. The consistent asset growth, low liabilities, and lack of executive compensation are all positive indicators for a nonprofit of its size.

Is Charlotte Hobbs Memorial Library Legit?

Verdict: Charlotte Hobbs Memorial Library appears trustworthy