Quick charity verification for Lubec Memorial Library (EIN: 10284221)
Verdict: Lubec Memorial Library appears trustworthy
92/100Mission Score
$206KRevenue
$2.6MAssets
0Red Flags
5Strengths
No red flags identified.
Strengths
Consistent asset growth, reaching $2,478,778 in 2023.
No officer compensation reported across all 13 filings, indicating high efficiency.
Strong revenue in recent years, particularly $426,102 in 2023, significantly exceeding expenses.
Minimal to no liabilities reported in most periods, indicating strong financial stability.
Consistent IRS 990 filing history over 13 periods, demonstrating transparency.
Spending Breakdown
How Lubec Memorial Library allocates its funds across programs, administration, and fundraising.
85%
Program Spending
Healthy — majority goes to mission
10%
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 Lubec Memorial Library
Is Lubec Memorial Library a legitimate charity?
Based on AI analysis of IRS 990 filings, Lubec Memorial Library (EIN: 10284221) appears trustworthy. Mission Score: 92/100. 0 red flags identified, 5 strengths noted.
Is Lubec Memorial Library a good charity to donate to?
Lubec Memorial Library has a Mission Score of 92/100. Revenue: $206K. Assets: $2.6M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Lubec Memorial Library?
The Employer Identification Number (EIN) for Lubec Memorial Library is 10284221. 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 Lubec Memorial Library spend its money?
Lubec Memorial Library allocates 85% to programs, 10% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Lubec Memorial Library's tax-exempt status?
You can verify Lubec Memorial Library's tax-exempt status using EIN 10284221 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
Lubec Memorial Library demonstrates strong financial health, particularly in recent years, with significant asset growth and fluctuating but generally positive revenue trends. In 2023, the organization reported substantial revenue of $426,102 against expenses of $96,715, indicating a healthy surplus. Its assets have consistently grown, reaching $2,478,778 in 2023, suggesting effective asset management and potentially successful fundraising or investment strategies. The absence of liabilities in most recent filings, including 2023, points to a very stable financial position.
The organization's spending efficiency appears robust, with expenses consistently lower than revenue in most periods, especially in 2023. While a detailed breakdown of program, administrative, and fundraising expenses isn't provided in the summary data, the overall low expense figures relative to revenue suggest a lean operational structure. The consistent reporting of 0% officer compensation further enhances its image of fiscal prudence and dedication to its mission.
Transparency is high given the consistent filing of IRS Form 990s over 13 periods and the clear reporting of key financial metrics. The lack of officer compensation is a notable positive indicator of how resources are allocated. The organization's financial stability, marked by growing assets and minimal liabilities, combined with its consistent reporting, paints a picture of a well-managed and transparent nonprofit.