Is Library Foundation Of New Hanover County Legit?
Quick charity verification for Library Foundation Of New Hanover County (EIN: 200547038)
Verdict: Library Foundation Of New Hanover County appears trustworthy
92/100Mission Score
$284KRevenue
$1.4MAssets
0Red Flags
5Strengths
No red flags identified.
Strengths
Consistent asset growth, from $689,061 in 2017 to $1,010,518 in 2023.
Zero officer compensation reported across all filings, indicating high efficiency.
No reported liabilities, demonstrating strong financial health and low risk.
Expenses consistently lower than revenue, leading to financial surpluses.
Clear alignment with its NTEE code (Public Libraries), indicating a focused mission.
Spending Breakdown
How Library Foundation Of New Hanover County allocates its funds across programs, administration, and fundraising.
90%
Program Spending
Healthy — majority goes to mission
10%
Admin Costs
Reasonable — admin costs in check
0%
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 Library Foundation Of New Hanover County
Is Library Foundation Of New Hanover County a legitimate charity?
Based on AI analysis of IRS 990 filings, Library Foundation Of New Hanover County (EIN: 200547038) appears trustworthy. Mission Score: 92/100. 0 red flags identified, 5 strengths noted.
Is Library Foundation Of New Hanover County a good charity to donate to?
Library Foundation Of New Hanover County has a Mission Score of 92/100. Revenue: $284K. Assets: $1.4M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Library Foundation Of New Hanover County?
The Employer Identification Number (EIN) for Library Foundation Of New Hanover County is 200547038. 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 Library Foundation Of New Hanover County spend its money?
Library Foundation Of New Hanover County allocates 90% to programs, 10% to administration, and 0% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Library Foundation Of New Hanover County's tax-exempt status?
You can verify Library Foundation Of New Hanover County's tax-exempt status using EIN 200547038 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 Library Foundation Of New Hanover County demonstrates consistent financial stability, with assets growing from $689,061 in 2017 to $1,010,518 in 2023. The organization's revenue has fluctuated, with a notable peak of $102,554 in 2023, indicating varying levels of donor support or investment income. Expenses have remained relatively low compared to revenue, suggesting efficient operations and a focus on building reserves. The absence of officer compensation reported across all filings indicates a volunteer-led or very lean administrative structure, which contributes positively to spending efficiency.
The foundation's financial health appears robust, with a strong asset base and no reported liabilities, signifying a low-risk financial profile. The consistent growth in assets, even during periods of lower revenue, points to sound financial management and investment strategies. The organization's transparency is high given the public availability of its 990 filings and the clear reporting of zero officer compensation, which is a key indicator for many donors. The NTEE code B117 (Public Libraries) aligns directly with its mission, suggesting a clear programmatic focus.
Overall, the Library Foundation Of New Hanover County appears to be a well-managed and financially healthy organization. Its consistent asset growth, minimal expenses relative to revenue, and lack of officer compensation suggest a strong commitment to its mission and efficient use of resources. The organization's financial reporting indicates a high degree of transparency, making it easier for stakeholders to assess its performance.