Quick charity verification for Larsen Family Public Library Inc (EIN: 204981366)
Verdict: Larsen Family Public Library Inc appears trustworthy
75/100Mission Score
$193KRevenue
$166KAssets
2Red Flags
4Strengths
Red Flags
Inconsistent revenue streams leading to periods of deficit spending (e.g., 2023, 2022, 2019 where expenses exceeded revenue).
Liabilities have increased significantly in recent years, from $1,391 in 2014 to $40,898 in 2023, which warrants monitoring.
Strengths
Consistent growth in assets over the past decade, from $19,716 in 2014 to $154,544 in 2023.
Zero officer compensation reported across all filings, indicating efficient use of funds and potentially strong volunteer leadership.
Consistent filing of IRS 990s, demonstrating good transparency and compliance.
Clear mission as a public library (NTEE B70) which is generally well-regarded for community benefit.
Spending Breakdown
How Larsen Family Public Library Inc 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 Larsen Family Public Library Inc
Is Larsen Family Public Library Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Larsen Family Public Library Inc (EIN: 204981366) appears trustworthy. Mission Score: 75/100. 2 red flags identified, 4 strengths noted.
Is Larsen Family Public Library Inc a good charity to donate to?
Larsen Family Public Library Inc has a Mission Score of 75/100. Revenue: $193K. Assets: $166K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Larsen Family Public Library Inc?
The Employer Identification Number (EIN) for Larsen Family Public Library Inc is 204981366. 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 Larsen Family Public Library Inc spend its money?
Larsen Family Public Library Inc allocates 80% to programs, 15% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Larsen Family Public Library Inc's tax-exempt status?
You can verify Larsen Family Public Library Inc's tax-exempt status using EIN 204981366 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
Larsen Family Public Library Inc. demonstrates a consistent commitment to its mission as a public library, as evidenced by its NTEE code B70. The organization's financial health shows some variability in recent years. For instance, in 2023, expenses ($156,354) exceeded revenue ($120,239), leading to a deficit. This trend of expenses exceeding revenue was also observed in 2022 and 2019, suggesting potential reliance on prior year surpluses or fluctuating funding sources. However, the organization's assets have generally grown over the past decade, from $19,716 in 2014 to $154,544 in 2023, indicating some financial stability and growth in its resource base.
Spending efficiency is difficult to fully assess without a detailed breakdown of program, administrative, and fundraising expenses, which are not provided in the summary data. However, the consistent reporting of 0% officer compensation across all available filings suggests that the organization is not burdened by high executive salaries, which is a positive indicator for resource allocation. The organization's transparency is good in terms of filing its IRS 990s consistently, with 13 filings available, demonstrating adherence to reporting requirements.
While the organization has experienced periods of deficit spending, its overall asset growth and consistent filing history are positive. A deeper dive into the specific expense categories would provide a clearer picture of its operational efficiency and how effectively it converts revenue into program services. The lack of officer compensation is a strong point for public trust and efficient use of funds.