Is Peabody Memorial Library Legit? —…

Strengths

Consistent asset growth, from $218,922 in 201212 to $617,501 in 202312.
Zero reported liabilities across all filings, indicating strong financial health.
0% officer compensation reported, suggesting highly efficient use of funds for mission-related activities.
Revenues generally exceed expenses in recent years, contributing to financial stability.
Consistent IRS 990 filing history, demonstrating transparency.

Spending Breakdown

How Peabody 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

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 Peabody Memorial Library

Is Peabody Memorial Library a legitimate charity?

Based on AI analysis of IRS 990 filings, Peabody Memorial Library (EIN: 10318866) appears trustworthy. Mission Score: 90/100. 0 red flags identified, 5 strengths noted.

Is Peabody Memorial Library a good charity to donate to?

Peabody Memorial Library has a Mission Score of 90/100. Revenue: $56K. Assets: $697K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.

What is the EIN for Peabody Memorial Library?

The Employer Identification Number (EIN) for Peabody Memorial Library is 10318866. 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 Peabody Memorial Library spend its money?

Peabody Memorial Library allocates 85% to programs, 10% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.

How can I verify Peabody Memorial Library's tax-exempt status?

You can verify Peabody Memorial Library's tax-exempt status using EIN 10318866 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

Peabody Memorial Library demonstrates consistent financial stability with a healthy asset base relative to its annual expenses. In the latest filing (202312), the organization reported revenues of $76,717 against expenses of $56,178, indicating a surplus that contributes to its growing assets, which stood at $617,501. The library consistently maintains zero liabilities, which is a strong indicator of fiscal prudence and low financial risk. While specific program spending details are not provided in the summary data, the absence of officer compensation suggests that operational costs are likely directed towards the library's core mission, enhancing its efficiency.

The organization's revenue has fluctuated over the years, with a notable spike in 201512 ($341,925), but generally hovers in the $40,000-$70,000 range. Despite these fluctuations, expenses have remained relatively stable and manageable, consistently below revenue in most recent years. The consistent growth in assets, from $218,922 in 201212 to $617,501 in 202312, further underscores its long-term financial health. The lack of officer compensation also points to a volunteer-driven or very lean administrative structure, which can be a positive for donor confidence regarding how funds are utilized.

Transparency is generally good given the consistent filing of IRS Form 990s. However, without a detailed breakdown of expenses into program, administrative, and fundraising categories, it's challenging to fully assess spending efficiency. The absence of liabilities and officer compensation are strong positive indicators of responsible financial management. The organization appears to be well-managed financially, focusing resources on its mission without significant overheads.

Is Peabody Memorial Library Legit?

Verdict: Peabody Memorial Library appears trustworthy