Quick charity verification for Ogunquit Memorial Library (EIN: 10214019)
Verdict: Ogunquit Memorial Library appears trustworthy
90/100Mission Score
$292KRevenue
$1.0MAssets
0Red Flags
4Strengths
No red flags identified.
Strengths
Consistent asset growth, increasing from $756,556 in 201112 to $1,036,622 in 202312.
No reported officer compensation across all available filings, indicating efficient use of funds.
Strong financial stability with low liabilities relative to assets (e.g., $59,247 liabilities vs. $1,036,622 assets in 202312).
Generally positive net income in most periods, demonstrating sustainable operations (e.g., $213,437 revenue vs. $187,018 expenses in 202312).
Spending Breakdown
How Ogunquit Memorial Library 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 Ogunquit Memorial Library
Is Ogunquit Memorial Library a legitimate charity?
Based on AI analysis of IRS 990 filings, Ogunquit Memorial Library (EIN: 10214019) appears trustworthy. Mission Score: 90/100. 0 red flags identified, 4 strengths noted.
Is Ogunquit Memorial Library a good charity to donate to?
Ogunquit Memorial Library has a Mission Score of 90/100. Revenue: $292K. Assets: $1.0M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Ogunquit Memorial Library?
The Employer Identification Number (EIN) for Ogunquit Memorial Library is 10214019. 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 Ogunquit Memorial Library spend its money?
Ogunquit Memorial Library allocates 80% to programs, 15% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Ogunquit Memorial Library's tax-exempt status?
You can verify Ogunquit Memorial Library's tax-exempt status using EIN 10214019 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
Ogunquit Memorial Library demonstrates consistent financial health with growing assets and generally positive net income over the past decade. In the latest filing (202312), the organization reported revenue of $213,437 against expenses of $187,018, contributing to its substantial asset base of $1,036,622. The library's liabilities remain relatively low at $59,247, indicating a strong balance sheet and fiscal stability. The absence of reported officer compensation across all available filings suggests a volunteer-driven leadership or that compensation falls below reporting thresholds, which can be a positive indicator of resource allocation directly to mission-related activities.
The organization's spending efficiency appears sound, with expenses consistently lower than revenue in most recent periods, allowing for asset growth. For instance, in 202312, expenses were approximately 87.6% of revenue. While a detailed breakdown of program, administrative, and fundraising expenses isn't explicitly provided in the summary data, the overall financial picture suggests a well-managed operation. The consistent growth in assets from $756,556 in 201112 to over $1 million in 202312 further underscores prudent financial management and sustainability.
Transparency is generally good given the availability of multiple years of IRS 990 filings. The consistent reporting of zero officer compensation is a notable point for transparency, indicating that leadership is either unpaid or compensated minimally. The consistent growth in assets and the relatively low liabilities suggest a responsible approach to financial stewardship, which aligns with good transparency practices.