Cannon Free Library Tr Pt 29800
Cannon Free Library consistently operates at a deficit, drawing down assets despite zero officer compensation.
EIN: 136777231 · Chicago, IL · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $790K |
| Total Expenses | $315K |
| Program Spending | 80% |
| Net Assets | $2.7M |
| Transparency Score | 65/100 |
Is Cannon Free Library Tr Pt 29800 Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Cannon Free Library Tr Pt 29800 directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Cannon Free Library Tr Pt 29800
Cannon Free Library Tr Pt 29800 (EIN: 136777231) is a nonprofit organization based in Chicago, IL. The organization reported total revenue of $790K and total assets of $3.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Cannon Free Library Tr Pt 29800's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Cannon Free Library Tr Pt 29800 is a small nonprofit that has been operating for 42 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -0.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $249K |
| Total Expenses | $315K |
| Surplus / Deficit | $-65,498 |
| Total Assets | $2.7M |
| Total Liabilities | $1 |
| Net Assets | $2.7M |
| Operating Margin | -26.3% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 103.0 months |
Financial Health Grade: B
In 2023, Cannon Free Library Tr Pt 29800 reported a deficit of $65K with expenses exceeding revenue, holds 103.0 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), Cannon Free Library Tr Pt 29800's revenue has declined at a compound annual growth rate (CAGR) of -0.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +225.1% | -0.1% | -2.4% |
| 2022 | -42.0% | +11.1% | -7.9% |
| 2021 | -15.6% | +0.0% | -4.8% |
| 2020 | -50.8% | -5.5% | -3.9% |
| 2019 | +66.0% | -31.5% | +4.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1984 |
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 Cannon Free Library Tr Pt 29800 with a Mission Score of 65 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Cannon Free Library Tr Pt 29800 allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $65K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all filings, indicating a volunteer-led board or very low-cost executive structure, which is highly favorable for a nonprofit of its size.
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 Cannon Free Library Tr Pt 29800's IRS 990 filings:
- Consistent operating deficits for over a decade, with expenses regularly exceeding revenue.
- Gradual decline in total assets from $3.66 million in 2011 to $2.70 million in 2023 due to spending more than earned.
- Lack of detailed spending breakdown (program, admin, fundraising) in the provided data makes it hard to assess efficiency.
Strengths
The following positive indicators were identified for Cannon Free Library Tr Pt 29800:
- Consistent reporting of 0% officer compensation, indicating efficient use of funds at the executive level.
- Long history of IRS 990 filings (10 filings), demonstrating transparency and compliance.
- Maintains a significant asset base ($2.70 million in 2023) providing a buffer despite operating deficits.
Frequently Asked Questions about Cannon Free Library Tr Pt 29800
Is Cannon Free Library Tr Pt 29800 a legitimate charity?
Cannon Free Library Tr Pt 29800 (EIN: 136777231) is a registered tax-exempt nonprofit based in Illinois. Our AI analysis gives it a Mission Score of 65/100. It has 10 years of IRS 990 filings on record. Total revenue: $790K. 3 red flags identified. 3 strengths noted. Financial health grade: B.
How does Cannon Free Library Tr Pt 29800 spend its money?
Cannon Free Library Tr Pt 29800 directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Cannon Free Library Tr Pt 29800 tax-deductible?
Cannon Free Library Tr Pt 29800 is registered as a tax-exempt nonprofit (EIN: 136777231). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Cannon Free Library Tr Pt 29800's spending goes to programs?
Cannon Free Library Tr Pt 29800 directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Cannon Free Library Tr Pt 29800 located?
Cannon Free Library Tr Pt 29800 is headquartered in Chicago, Illinois and files with the IRS under EIN 136777231.
How many years of IRS 990 filings does Cannon Free Library Tr Pt 29800 have?
Cannon Free Library Tr Pt 29800 has 10 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 $790K in total revenue.
Is Cannon Free Library Tr Pt 29800 financially sustainable?
The organization has consistently spent more than it earned for over a decade, leading to a decline in assets from $3.66 million in 2011 to $2.70 million in 2023. While current assets are substantial, this trend is not sustainable long-term without a change in revenue or expense management.
How does the organization fund its operations?
Given the consistent operating deficits, the organization appears to be funding its operations by drawing down its existing asset base. For instance, in 2022, revenue was only $76,657 while expenses were $314,905, indicating a significant reliance on reserves.
What is the organization's NTEE code and specific mission?
The NTEE code is currently unknown, making it difficult to benchmark against similar organizations. While the name suggests a library, a clearer mission statement and NTEE code would provide better context for its activities.
Filing History
IRS 990 filing history for Cannon Free Library Tr Pt 29800 showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Cannon Free Library Tr Pt 29800's revenue has declined by 6.6%, moving from $267K to $249K. Total assets decreased by 26.3% over the same period, from $3.7M to $2.7M. Total functional expenses fell by 17.2%, from $380K to $315K. In its most recent filing year (2023), Cannon Free Library Tr Pt 29800 reported a deficit of $65K, with expenses exceeding revenue. The organization holds $1 in liabilities against $2.7M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $2.7M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $249K | $315K | $2.7M | $1 | — | View 990 |
| 2022 | $77K | $315K | $2.8M | $1 | — | View 990 |
| 2021 | $132K | $284K | $3.0M | $1 | — | View 990 |
| 2020 | $157K | $283K | $3.2M | $1 | — | View 990 |
| 2019 | $319K | $300K | $3.3M | $0 | — | View 990 |
| 2015 | $192K | $438K | $3.2M | $0 | — | View 990 |
| 2014 | $179K | $303K | $3.4M | $0 | — | View 990 |
| 2013 | $126K | $196K | $3.5M | $0 | — | View 990 |
| 2012 | $221K | $294K | $3.6M | $0 | — | View 990 |
| 2011 | $267K | $380K | $3.7M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $249K, expenses of $315K, and assets of $2.7M (revenue +225.1% year-over-year).
- 2022: Revenue of $77K, expenses of $315K, and assets of $2.8M (revenue -42.0% year-over-year).
- 2021: Revenue of $132K, expenses of $284K, and assets of $3.0M (revenue -15.6% year-over-year).
- 2020: Revenue of $157K, expenses of $283K, and assets of $3.2M (revenue -50.8% year-over-year).
- 2019: Revenue of $319K, expenses of $300K, and assets of $3.3M (revenue +66.0% year-over-year).
- 2015: Revenue of $192K, expenses of $438K, and assets of $3.2M (revenue +7.1% year-over-year).
- 2014: Revenue of $179K, expenses of $303K, and assets of $3.4M (revenue +42.1% year-over-year).
- 2013: Revenue of $126K, expenses of $196K, and assets of $3.5M (revenue -43.0% year-over-year).
- 2012: Revenue of $221K, expenses of $294K, and assets of $3.6M (revenue -17.0% year-over-year).
- 2011: Revenue of $267K, expenses of $380K, and assets of $3.7M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Cannon Free Library Tr Pt 29800:
Data Sources and Methodology
This transparency report for Cannon Free Library Tr Pt 29800 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.