Carver Memorial Library Association
Carver Memorial Library Association maintains strong financial health with revenue exceeding expenses and no liabilities.
EIN: 16019125 · Searsport, ME · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $82K |
| Total Expenses | $40K |
| Program Spending | 80% |
| CEO/Top Officer Pay | $99,889 |
| Net Assets | $512K |
| Transparency Score | 90/100 |
Is Carver Memorial Library Association Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Carver Memorial Library Association directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Carver Memorial Library Association
Carver Memorial Library Association (EIN: 16019125) is a nonprofit organization based in Searsport, ME. The organization reported total revenue of $82K and total assets of $547K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Carver Memorial Library Association's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Carver Memorial Library Association is a micro nonprofit that has been operating for 83 years.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $100K |
| Total Expenses | $40K |
| Surplus / Deficit | +$60K |
| Total Assets | $512K |
| Net Assets | $512K |
| Operating Margin | 59.6% |
| Months of Reserves | 152.1 months |
Financial Health Grade: A
In 2023, Carver Memorial Library Association reported a surplus of $60K with revenue exceeding expenses, holds 152.1 months of operating reserves (strong position).
IRS Tax-Exempt Classification
| IRS Classification Codes | 2300 |
| IRS Ruling Date | 1943 |
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 Carver Memorial Library Association with a Mission Score of 90 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: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Carver Memorial Library Association 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 surplus of $60K, with revenue exceeding expenses.
Executive Compensation Analysis
Officer compensation was reported as 0% in the 2023 period, indicating that the organization's leadership is either entirely volunteer-based or compensated through non-officer roles, which is highly efficient for an organization of its size with $99,889 in revenue.
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.
Strengths
The following positive indicators were identified for Carver Memorial Library Association:
- Strong financial health with assets of $511,710 and no liabilities in 2023.
- Revenue ($99,889) significantly exceeds expenses ($40,361) in the 2023 period, indicating efficient operations.
- 0% officer compensation reported, suggesting volunteer leadership or highly cost-effective management.
- Consistent financial stability with a healthy asset base.
Frequently Asked Questions about Carver Memorial Library Association
Is Carver Memorial Library Association a legitimate charity?
Based on AI analysis of IRS 990 filings, Carver Memorial Library Association (EIN: 16019125) appears legitimate. Mission Score: 90/100. 0 red flags identified, 4 strengths noted.
How does Carver Memorial Library Association spend its money?
Carver Memorial Library Association directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Carver Memorial Library Association tax-deductible?
Carver Memorial Library Association is registered as a tax-exempt nonprofit (EIN: 16019125). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Carver Memorial Library Association CEO make?
Carver Memorial Library Association's highest-compensated officer earns $99,889 annually. The organization reported $82K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Carver Memorial Library Association's spending goes to programs?
Carver Memorial Library Association directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Carver Memorial Library Association located?
Carver Memorial Library Association is headquartered in Searsport, Maine and files with the IRS under EIN 16019125.
Is Carver Memorial Library Association a good charity?
Based on the provided data, Carver Memorial Library Association appears to be a financially sound organization with strong revenue generation relative to expenses ($99,889 revenue vs. $40,361 expenses in 2023) and no reported liabilities, suggesting good financial management and a focus on its mission.
How does the organization manage its expenses?
In the 2023 period, the organization's expenses were $40,361 against a revenue of $99,889, indicating that less than half of its revenue was spent, leading to a significant surplus. This suggests efficient expense management, though a detailed breakdown of spending categories would provide more insight.
Filing History
IRS 990 filing history for Carver Memorial Library Association showing financial trends over 1 year of public records:
In its most recent filing year (2023), Carver Memorial Library Association reported a surplus of $60K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $100K | $40K | $512K | $0 | — | — |
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Carver Memorial Library Association:
Data Sources and Methodology
This transparency report for Carver Memorial 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.