Is William A Farnsworth Library And Art…

Quick charity verification for William A Farnsworth Library And Art Museum Inc (EIN: 10368070)

Strengths

Consistent positive net income in recent years, demonstrating financial stability (e.g., $584,808 surplus in 202309).
Steady growth in assets, increasing from $24,689,362 in 201412 to $35,444,823 in 202309.
Very low liabilities relative to assets, indicating strong financial health and minimal debt burden.
Consistent reporting of 0% officer compensation, suggesting a high degree of volunteer leadership or efficient use of funds.
Long history of IRS 990 filings (14 filings), indicating strong commitment to transparency and compliance.

Spending Breakdown

How William A Farnsworth Library And Art Museum 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

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 William A Farnsworth Library And Art Museum Inc

Is William A Farnsworth Library And Art Museum Inc a legitimate charity?

Based on AI analysis of IRS 990 filings, William A Farnsworth Library And Art Museum Inc (EIN: 10368070) appears trustworthy. Mission Score: 90/100. 2 red flags identified, 5 strengths noted.

Is William A Farnsworth Library And Art Museum Inc a good charity to donate to?

William A Farnsworth Library And Art Museum Inc has a Mission Score of 90/100. Revenue: $12.0M. Assets: $39.0M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.

What is the EIN for William A Farnsworth Library And Art Museum Inc?

The Employer Identification Number (EIN) for William A Farnsworth Library And Art Museum Inc is 10368070. 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 William A Farnsworth Library And Art Museum Inc spend its money?

William A Farnsworth Library And Art Museum Inc allocates 80% to programs, 15% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.

How can I verify William A Farnsworth Library And Art Museum Inc's tax-exempt status?

You can verify William A Farnsworth Library And Art Museum Inc's tax-exempt status using EIN 10368070 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 William A Farnsworth Library And Art Museum Inc demonstrates consistent financial health with growing assets and generally positive net income over the past several years. In the latest filing (202309), the organization reported revenue of $6,930,862 against expenses of $6,346,054, resulting in a surplus. This trend of revenue exceeding expenses is largely consistent, with a few exceptions in earlier years (e.g., 201909, 202009, 201709, 201609, 201412) where expenses slightly outpaced revenue. The organization's assets have steadily increased, reaching $35,444,823 in 202309, indicating strong financial stewardship and growth in its endowment or capital. Liabilities remain relatively low, suggesting a healthy balance sheet.

The organization's spending efficiency appears sound, particularly given its mission as a library and art museum, which often involves significant program costs for collections, exhibitions, and educational activities. A notable aspect of its transparency is the consistent reporting of 0% officer compensation across all available filings. This indicates that the highest-ranking individuals are either volunteers or compensated through other means not categorized as 'officer compensation' on the 990, which is a strong positive for public trust. The consistent filing of IRS 990s over 14 periods further demonstrates a commitment to regulatory compliance and transparency.

Is William A Farnsworth Library And Art Museum Inc Legit?

Verdict: William A Farnsworth Library And Art Museum Inc appears trustworthy

Red Flags