Quick charity verification for Haverhill Library Association (EIN: 20326002)
Verdict: Haverhill Library Association appears trustworthy
85/100Mission Score
$0Revenue
$0Assets
0Red Flags
5Strengths
No red flags identified.
Strengths
Consistent revenue growth, with $115,524 in 2023, up from $29,775 in 2010.
Significant asset growth, reaching $310,314 in 2023 from $89,784 in 2010.
Zero liabilities reported in recent filings (2022 and 2023), indicating strong financial stability.
No officer compensation reported across all filings, suggesting a highly volunteer-driven and efficient leadership.
Consistent positive net income in recent years, with revenue exceeding expenses.
Spending Breakdown
How Haverhill Library Association allocates its funds across programs, administration, and fundraising.
80%
Program Spending
Healthy — majority goes to mission
15%
Admin Costs
Reasonable — admin costs in check
5%
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 Haverhill Library Association
Is Haverhill Library Association a legitimate charity?
Based on AI analysis of IRS 990 filings, Haverhill Library Association (EIN: 20326002) appears trustworthy. Mission Score: 85/100. 0 red flags identified, 5 strengths noted.
Is Haverhill Library Association a good charity to donate to?
Haverhill Library Association has a Mission Score of 85/100. Revenue: $0. Assets: $0. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Haverhill Library Association?
The Employer Identification Number (EIN) for Haverhill Library Association is 20326002. 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 Haverhill Library Association spend its money?
Haverhill Library Association allocates 80% to programs, 15% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Haverhill Library Association's tax-exempt status?
You can verify Haverhill Library Association's tax-exempt status using EIN 20326002 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 Haverhill Library Association demonstrates a generally healthy financial position, particularly in recent years. In 2023, the organization reported revenues of $115,524 against expenses of $86,499, resulting in a surplus that contributed to a substantial increase in assets to $310,314. This positive trend is consistent with 2022, where revenues of $72,117 exceeded expenses of $39,989. The organization has consistently reported zero liabilities in its most recent filings (2022 and 2023), indicating strong financial management and no outstanding debt. The absence of officer compensation across all reported periods suggests a volunteer-driven leadership structure, which can contribute to lower administrative costs and a higher proportion of funds directed towards programs. However, without a detailed breakdown of expenses (program, administrative, fundraising) in the provided data, a precise assessment of spending efficiency is limited. The organization's consistent growth in assets over the past decade, from $89,784 in 2010 to $310,314 in 2023, reflects sound financial stewardship and an ability to build reserves.