Bremen Library Association
Bremen Library Association consistently operates with unpaid leadership and growing assets.
EIN: 10324317 · Bremen, ME · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $89K |
| Total Expenses | $77K |
| Program Spending | 90% |
| CEO/Top Officer Pay | $438,497. |
| Net Assets | $438K |
| Transparency Score | 95/100 |
Is Bremen Library Association Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Bremen Library Association directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Bremen Library Association
Bremen Library Association (EIN: 10324317) is a nonprofit organization based in Bremen, ME. The organization reported total revenue of $89K and total assets of $478K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Bremen Library Association's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Bremen Library Association is a micro nonprofit that has been operating for 54 years, with 12 years of IRS 990 filings on record (2012–2024). Revenue has grown at a compound annual rate of 4.7%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $64K |
| Total Expenses | $77K |
| Surplus / Deficit | $-13,257 |
| Total Assets | $438K |
| Net Assets | $438K |
| Operating Margin | -20.7% |
| Months of Reserves | 68.2 months |
Financial Health Grade: B
In 2024, Bremen Library Association reported a deficit of $13K with expenses exceeding revenue, holds 68.2 months of operating reserves (strong position).
Financial Trends
Over 12 years of filings (2012–2024), Bremen Library Association's revenue has grown at a compound annual growth rate (CAGR) of 4.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | -42.1% | +19.3% | -0.8% |
| 2023 | +43.1% | +22.7% | +15.0% |
| 2022 | +32.8% | +11.3% | -3.6% |
| 2021 | -27.6% | -15.1% | +6.5% |
| 2020 | +53.5% | +40.5% | +9.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 1972 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Bremen Library Association with a Mission Score of 95 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 90%
- fundraising: 0%
According to IRS 990 filings, Bremen Library Association allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $13K, with expenses exceeding revenue.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that the organization's leadership is entirely volunteer-based, which is highly commendable for an organization with assets of $438,497.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Bremen Library Association's IRS 990 filings:
- Expenses exceeded revenue in the most recent filing (202406), with expenses at $77,208 against revenue of $63,951, indicating a deficit for that period.
Strengths
The following positive indicators were identified for Bremen Library Association:
- Consistent growth in assets, from $298,218 in 2014 to $438,497 in 2024, demonstrating long-term financial stability.
- Zero officer compensation reported across all filings, indicating a highly volunteer-driven and efficient leadership structure.
- Minimal to no liabilities reported over the past decade, reflecting sound financial management and low debt burden.
- Consistent IRS 990 filings over 12 periods, showcasing strong transparency and compliance.
Frequently Asked Questions about Bremen Library Association
Is Bremen Library Association a legitimate charity?
Based on AI analysis of IRS 990 filings, Bremen Library Association (EIN: 10324317) some concerns. Mission Score: 95/100. 1 red flag identified, 4 strengths noted.
How does Bremen Library Association spend its money?
Bremen Library Association directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Bremen Library Association tax-deductible?
Bremen Library Association is registered as a tax-exempt nonprofit (EIN: 10324317). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Bremen Library Association CEO make?
Bremen Library Association's highest-compensated officer earns $438,497. annually. The organization reported $89K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
Where is Bremen Library Association located?
Bremen Library Association is headquartered in Bremen, Maine and files with the IRS under EIN 10324317.
How many years of IRS 990 filings does Bremen Library Association have?
Bremen Library Association has 12 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $89K in total revenue.
Is Bremen Library Association a good charity?
Based on the provided financial data, Bremen Library Association appears to be a very good charity. It demonstrates strong financial health with growing assets, consistently covers its expenses, and notably operates with 0% officer compensation, meaning all leadership is volunteer-based. This indicates a high dedication to its mission and efficient use of funds.
How has the organization's financial health changed over time?
The organization's financial health has steadily improved over time. Assets have grown from $298,218 in 2014 to $438,497 in 2024. While revenue and expenses fluctuate year-to-year, the organization consistently maintains a positive asset base and has rarely reported liabilities, indicating stable and responsible financial management.
What is the trend in revenue and expenses?
Revenue and expenses show variability but generally trend upwards over the decade. For example, revenue was $37,775 in 2017 and reached $110,454 in 2023 before dipping to $63,951 in 2024. Expenses have also increased but typically remain below revenue, except for 2024 where expenses ($77,208) exceeded revenue ($63,951), which is a minor concern but not indicative of long-term instability given the overall asset growth.
Filing History
IRS 990 filing history for Bremen Library Association showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2012–2024), Bremen Library Association's revenue has grown by 73%, moving from $37K to $64K. Total assets increased by 68.3% over the same period, from $260K to $438K. Total functional expenses rose by 156.2%, from $30K to $77K. In its most recent filing year (2024), Bremen Library Association reported a deficit of $13K, with expenses exceeding revenue.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $64K | $77K | $438K | $0 | — | — |
| 2023 | $110K | $65K | $442K | $0 | — | — |
| 2022 | $77K | $53K | $384K | $0 | — | View 990 |
| 2021 | $58K | $47K | $399K | $0 | — | View 990 |
| 2020 | $80K | $56K | $374K | $5K | — | View 990 |
| 2019 | $52K | $40K | $343K | $0 | — | View 990 |
| 2017 | $38K | $36K | $323K | $0 | — | View 990 |
| 2016 | $42K | $36K | $312K | $0 | — | View 990 |
| 2015 | $41K | $33K | $306K | $0 | — | View 990 |
| 2014 | $63K | $34K | $298K | $0 | — | View 990 |
| 2013 | $43K | $35K | $269K | $0 | — | View 990 |
| 2012 | $37K | $30K | $260K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $64K, expenses of $77K, and assets of $438K (revenue -42.1% year-over-year).
- 2023: Revenue of $110K, expenses of $65K, and assets of $442K (revenue +43.1% year-over-year).
- 2022: Revenue of $77K, expenses of $53K, and assets of $384K (revenue +32.8% year-over-year).
- 2021: Revenue of $58K, expenses of $47K, and assets of $399K (revenue -27.6% year-over-year).
- 2020: Revenue of $80K, expenses of $56K, and assets of $374K (revenue +53.5% year-over-year).
- 2019: Revenue of $52K, expenses of $40K, and assets of $343K (revenue +38.4% year-over-year).
- 2017: Revenue of $38K, expenses of $36K, and assets of $323K (revenue -9.8% year-over-year).
- 2016: Revenue of $42K, expenses of $36K, and assets of $312K (revenue +2.7% year-over-year).
- 2015: Revenue of $41K, expenses of $33K, and assets of $306K (revenue -35.5% year-over-year).
- 2014: Revenue of $63K, expenses of $34K, and assets of $298K (revenue +47.0% year-over-year).
- 2013: Revenue of $43K, expenses of $35K, and assets of $269K (revenue +16.5% year-over-year).
- 2012: Revenue of $37K, expenses of $30K, and assets of $260K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Bremen Library Association:
Data Sources and Methodology
This transparency report for Bremen Library Association is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.