Chase Emerson Memorial Library
Chase Emerson Memorial Library shows strong financial growth and no officer compensation.
EIN: 16013197 · Deer Isle, ME · Updated: 2026-03-28
Is Chase Emerson Memorial Library Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Chase Emerson Memorial Library directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Chase Emerson Memorial Library
Chase Emerson Memorial Library (EIN: 16013197) is a nonprofit organization based in Deer Isle, ME. The organization reported total revenue of $89K and total assets of $382K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Chase Emerson Memorial Library's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Chase Emerson Memorial Library is a micro nonprofit that has been operating for 33 years, with 2 years of IRS 990 filings on record (2022–2023). Revenue has grown at a compound annual rate of 90.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $141K |
| Total Expenses | $76K |
| Surplus / Deficit | +$65K |
| Total Assets | $313K |
| Total Liabilities | $7K |
| Net Assets | $305K |
| Operating Margin | 45.8% |
| Debt-to-Asset Ratio | 2.4% |
| Months of Reserves | 49.1 months |
Financial Health Grade: A
In 2023, Chase Emerson Memorial Library reported a surplus of $65K with revenue exceeding expenses, holds 49.1 months of operating reserves (strong position), has a debt-to-asset ratio of 2.4% (very low leverage).
Financial Trends
Over 2 years of filings (2022–2023), Chase Emerson Memorial Library's revenue has grown at a compound annual growth rate (CAGR) of 90.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +90.0% | +10.6% | +29.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 1993 |
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 Chase Emerson Memorial Library 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: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Chase Emerson Memorial Library allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% 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 $65K, with revenue exceeding expenses.
- Debt-to-asset ratio: 2.4%.
Executive Compensation Analysis
No officer compensation was reported in either the 2022 or 2023 filings, suggesting a volunteer-driven leadership or that compensation falls below reporting thresholds, which is highly efficient for an organization 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 Chase Emerson Memorial Library:
- Strong revenue growth, nearly doubling from $74,167 in 2022 to $140,936 in 2023.
- Consistent asset growth, from $242,465 in 2022 to $312,747 in 2023.
- No officer compensation reported in either filing, indicating high efficiency.
- Low liabilities relative to assets, suggesting good financial management.
- Positive net income in both reported periods, contributing to asset accumulation.
Frequently Asked Questions about Chase Emerson Memorial Library
Is Chase Emerson Memorial Library a legitimate charity?
Based on AI analysis of IRS 990 filings, Chase Emerson Memorial Library (EIN: 16013197) appears legitimate. Mission Score: 90/100. 0 red flags identified, 5 strengths noted.
How does Chase Emerson Memorial Library spend its money?
Chase Emerson Memorial Library directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Chase Emerson Memorial Library tax-deductible?
Chase Emerson Memorial Library is registered as a tax-exempt nonprofit (EIN: 16013197). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Chase Emerson Memorial Library a good charity?
Based on the available financial data, the Chase Emerson Memorial Library appears to be a well-managed and financially healthy organization. It consistently generates more revenue than expenses, has growing assets, and reports no officer compensation, indicating efficient use of funds.
How has the library's revenue changed over time?
The library's revenue has shown significant growth, increasing from $74,167 in 2022 to $140,936 in 2023, nearly doubling in a single year.
What is the trend in the library's assets?
The library's assets have steadily increased, from $242,465 in 2022 to $312,747 in 2023, demonstrating financial stability and growth.
Filing History
IRS 990 filing history for Chase Emerson Memorial Library showing financial trends over 2 years of public records:
Over 2 years of IRS 990 filings (2022–2023), Chase Emerson Memorial Library's revenue has grown by 90%, moving from $74K to $141K. Total assets increased by 29% over the same period, from $242K to $313K. Total functional expenses rose by 10.6%, from $69K to $76K. In its most recent filing year (2023), Chase Emerson Memorial Library reported a surplus of $65K, with revenue exceeding expenses. The organization holds $7K in liabilities against $313K in assets (debt-to-asset ratio: 2.4%), resulting in net assets of $305K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $141K | $76K | $313K | $7K | — | — |
| 2022 | $74K | $69K | $242K | $5K | — | — |
Data Sources and Methodology
This transparency report for Chase Emerson Memorial Library 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.