AI Transparency Report
The Farmington Public Library Association demonstrates consistent financial health with a strong asset base, growing from $2,587,588 in 2014 to $2,932,880 in 2023. The organization consistently operates with a surplus, as seen in 2023 where revenue of $470,475 exceeded expenses of $370,950, indicating sound financial management. Their spending efficiency appears robust, with no reported officer compensation, suggesting resources are directed towards the library's mission rather than executive salaries. The absence of significant liabilities in most years further underscores their stable financial position.
The organization's revenue has shown fluctuations but a general upward trend, with a notable increase to $470,475 in 2023 from $279,407 in 2019. This growth in resources, coupled with controlled expenses, allows for continued investment in library services. The consistent filing of IRS 990 forms over 13 periods indicates a commitment to transparency, providing a clear historical record of their financial activities. Overall, the Farmington Public Library Association appears to be a well-managed and financially stable entity dedicated to its community service.