Casco Library Association
Casco Library Association shows strong asset growth and no officer compensation, with fluctuating but generally increasing revenue.
EIN: 16022468 · Casco, ME · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $348K |
| Total Expenses | $200K |
| Program Spending | 90% |
| Net Assets | $1.2M |
| Transparency Score | 95/100 |
Is Casco Library Association Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Casco Library Association directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Casco Library Association
Casco Library Association (EIN: 16022468) is a nonprofit organization based in Casco, ME. The organization reported total revenue of $348K and total assets of $1.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Casco Library Association's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Casco Library Association is a small nonprofit that has been operating for 44 years, with 15 years of IRS 990 filings on record (2009–2023). Revenue has grown at a compound annual rate of 12.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $511K |
| Total Expenses | $200K |
| Surplus / Deficit | +$311K |
| Total Assets | $1.2M |
| Net Assets | $1.2M |
| Operating Margin | 60.9% |
| Months of Reserves | 69.7 months |
Financial Health Grade: A
In 2023, Casco Library Association reported a surplus of $311K with revenue exceeding expenses, holds 69.7 months of operating reserves (strong position).
Financial Trends
Over 15 years of filings (2009–2023), Casco Library Association's revenue has grown at a compound annual growth rate (CAGR) of 12.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +241.9% | +44.0% | +47.6% |
| 2022 | -2.4% | +19.7% | -9.2% |
| 2021 | +2.6% | +2.8% | +5.8% |
| 2020 | +16.6% | -11.4% | +3.8% |
| 2019 | -40.4% | -24.0% | +75.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 1982 |
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 Casco 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, Casco 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 (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $311K, with revenue exceeding expenses.
Executive Compensation Analysis
The Casco Library Association consistently reports 0% officer compensation across all available filings, indicating that its leadership serves on a volunteer basis, which is highly commendable 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.
Strengths
The following positive indicators were identified for Casco Library Association:
- Consistent asset growth, reaching $1,161,362 in 2023.
- Zero reported liabilities across most filing periods, indicating strong financial stability.
- 0% officer compensation reported in all available filings, demonstrating volunteer leadership.
- Significant revenue increase in 2023 to $510,970, suggesting strong community support or successful fundraising.
- Expenses generally well below revenue, allowing for asset accumulation and future program investment.
Frequently Asked Questions about Casco Library Association
Is Casco Library Association a legitimate charity?
Based on AI analysis of IRS 990 filings, Casco Library Association (EIN: 16022468) appears legitimate. Mission Score: 95/100. 0 red flags identified, 5 strengths noted.
How does Casco Library Association spend its money?
Casco Library Association directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Casco Library Association tax-deductible?
Casco Library Association is registered as a tax-exempt nonprofit (EIN: 16022468). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Casco Library Association located?
Casco Library Association is headquartered in Casco, Maine and files with the IRS under EIN 16022468.
How many years of IRS 990 filings does Casco Library Association have?
Casco Library Association has 15 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 $348K in total revenue.
Is Casco Library Association a good charity?
Based on the available data, the Casco Library Association appears to be a very good charity. It demonstrates strong financial health with growing assets, minimal expenses relative to revenue, and consistently reports zero liabilities. The absence of officer compensation is a significant positive indicator of its commitment to its mission.
How has the organization's financial health changed over time?
The organization's financial health has significantly improved over time, particularly in asset growth. Assets have grown from $270,828 in 2014 to $1,161,362 in 2023. Revenue has also shown an upward trend, despite some annual fluctuations, with a substantial increase in 2023.
What is the organization's approach to executive compensation?
The Casco Library Association has a highly commendable approach to executive compensation, consistently reporting 0% officer compensation across all 15 filings. This indicates that its officers are volunteers, directing all financial resources to the organization's mission.
Filing History
IRS 990 filing history for Casco Library Association showing financial trends over 15 years of public records:
Over 15 years of IRS 990 filings (2009–2023), Casco Library Association's revenue has grown by 391.5%, moving from $104K to $511K. Total assets increased by 323.1% over the same period, from $274K to $1.2M. Total functional expenses rose by 96.3%, from $102K to $200K. In its most recent filing year (2023), Casco Library Association reported a surplus of $311K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $511K | $200K | $1.2M | $0 | — | View 990 |
| 2022 | $149K | $139K | $787K | $0 | — | View 990 |
| 2021 | $153K | $116K | $866K | $0 | — | View 990 |
| 2020 | $149K | $113K | $818K | $0 | — | View 990 |
| 2019 | $128K | $127K | $788K | $0 | — | View 990 |
| 2018 | $215K | $168K | $450K | $1K | — | View 990 |
| 2017 | $105K | $102K | $407K | $1K | — | View 990 |
| 2016 | $195K | $101K | $390K | $0 | — | View 990 |
| 2015 | $102K | $80K | $288K | $227 | — | View 990 |
| 2014 | $111K | $109K | $271K | $0 | — | View 990 |
| 2013 | $102K | $106K | $264K | $548 | — | View 990 |
| 2012 | $101K | $106K | $262K | $570 | — | View 990 |
| 2011 | $94K | $104K | $261K | $570 | — | View 990 |
| 2010 | $106K | $103K | $276K | $570 | — | View 990 |
| 2009 | $104K | $102K | $274K | $450 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $511K, expenses of $200K, and assets of $1.2M (revenue +241.9% year-over-year).
- 2022: Revenue of $149K, expenses of $139K, and assets of $787K (revenue -2.4% year-over-year).
- 2021: Revenue of $153K, expenses of $116K, and assets of $866K (revenue +2.6% year-over-year).
- 2020: Revenue of $149K, expenses of $113K, and assets of $818K (revenue +16.6% year-over-year).
- 2019: Revenue of $128K, expenses of $127K, and assets of $788K (revenue -40.4% year-over-year).
- 2018: Revenue of $215K, expenses of $168K, and assets of $450K (revenue +104.0% year-over-year).
- 2017: Revenue of $105K, expenses of $102K, and assets of $407K (revenue -45.9% year-over-year).
- 2016: Revenue of $195K, expenses of $101K, and assets of $390K (revenue +91.3% year-over-year).
- 2015: Revenue of $102K, expenses of $80K, and assets of $288K (revenue -8.0% year-over-year).
- 2014: Revenue of $111K, expenses of $109K, and assets of $271K (revenue +8.0% year-over-year).
- 2013: Revenue of $102K, expenses of $106K, and assets of $264K (revenue +1.2% year-over-year).
- 2012: Revenue of $101K, expenses of $106K, and assets of $262K (revenue +8.0% year-over-year).
- 2011: Revenue of $94K, expenses of $104K, and assets of $261K (revenue -11.6% year-over-year).
- 2010: Revenue of $106K, expenses of $103K, and assets of $276K (revenue +1.9% year-over-year).
- 2009: Revenue of $104K, expenses of $102K, and assets of $274K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Casco Library Association:
Data Sources and Methodology
This transparency report for Casco 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.