Community Library
Community Library consistently grows assets with zero liabilities and no reported officer compensation.
EIN: 10494252 · Lyman, ME · NTEE: B71Z · Updated: 2026-03-28
Is Community Library Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Community Library directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Community Library
Community Library (EIN: 10494252) is a nonprofit organization based in Lyman, ME, classified under NTEE code B71Z. The organization reported total revenue of $197K and total assets of $472K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Community Library's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Community Library is a small nonprofit that has been operating for 30 years, with 13 years of IRS 990 filings on record (2012–2024). Revenue has grown at a compound annual rate of 6.7%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $168K |
| Total Expenses | $135K |
| Surplus / Deficit | +$34K |
| Total Assets | $506K |
| Net Assets | $506K |
| Operating Margin | 20.0% |
| Months of Reserves | 45.1 months |
Financial Health Grade: A
In 2024, Community Library reported a surplus of $34K with revenue exceeding expenses, holds 45.1 months of operating reserves (strong position).
Financial Trends
Over 13 years of filings (2012–2024), Community Library's revenue has grown at a compound annual growth rate (CAGR) of 6.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | +12.4% | -6.1% | +4.4% |
| 2023 | -1.7% | +4.2% | +6.8% |
| 2022 | +6.1% | +27.0% | +30.2% |
| 2021 | +1.8% | -4.2% | +12.2% |
| 2020 | +23.2% | +7.2% | +9.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1996 |
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 Community Library 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, Community Library 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 surplus of $34K, with revenue exceeding expenses.
Executive Compensation Analysis
The organization reports 0% officer compensation across all available filings, indicating that executive leadership may be volunteer-based or compensated through non-officer roles, which significantly reduces administrative overhead 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 Community Library:
- Consistent revenue growth, from $140,994 in 2020 to $168,361 in 2024.
- Healthy asset growth, increasing from $310,533 in 2020 to $505,643 in 2024.
- Zero reported liabilities across all available filings, indicating strong financial stability.
- 0% reported officer compensation, suggesting highly efficient use of funds.
- Expenses consistently below revenue, demonstrating sound financial management and consistent surpluses.
Frequently Asked Questions about Community Library
Is Community Library a legitimate charity?
Based on AI analysis of IRS 990 filings, Community Library (EIN: 10494252) appears legitimate. Mission Score: 95/100. 0 red flags identified, 5 strengths noted.
How does Community Library spend its money?
Community Library directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Community Library tax-deductible?
Community Library is registered as a tax-exempt nonprofit (EIN: 10494252). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Community Library a good charity?
Yes, Community Library appears to be a very good charity. It demonstrates strong financial health with consistent revenue growth, positive net assets, and zero liabilities. The absence of reported officer compensation and a high program spending ratio suggest efficient use of funds directly for its mission.
How has Community Library's financial health changed over time?
Community Library's financial health has steadily improved. Revenue has grown from $140,994 in 2020 to $168,361 in 2024, and assets have increased significantly from $310,533 to $505,643 over the same period, all while maintaining zero liabilities.
What is Community Library's approach to executive compensation?
Community Library reports 0% officer compensation in all available filings, suggesting a volunteer-led executive structure or that compensation is not categorized as officer pay, which is highly efficient for a nonprofit of this size.
Filing History
IRS 990 filing history for Community Library showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2012–2024), Community Library's revenue has grown by 117%, moving from $78K to $168K. Total assets increased by 148.6% over the same period, from $203K to $506K. Total functional expenses rose by 78.1%, from $76K to $135K. In its most recent filing year (2024), Community Library reported a surplus of $34K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $168K | $135K | $506K | $0 | — | — |
| 2023 | $150K | $143K | $484K | $0 | — | View 990 |
| 2022 | $152K | $138K | $454K | $0 | — | View 990 |
| 2021 | $144K | $108K | $348K | $0 | — | — |
| 2020 | $141K | $113K | $311K | $0 | — | View 990 |
| 2019 | $114K | $106K | $284K | $0 | — | View 990 |
| 2018 | $104K | $88K | $275K | $0 | — | View 990 |
| 2017 | $92K | $78K | $259K | $0 | — | View 990 |
| 2016 | $182K | $250K | $245K | $0 | — | View 990 |
| 2015 | $182K | $97K | $313K | $0 | — | View 990 |
| 2014 | $104K | $83K | $227K | $0 | — | View 990 |
| 2013 | $74K | $71K | $206K | $0 | — | View 990 |
| 2012 | $78K | $76K | $203K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $168K, expenses of $135K, and assets of $506K (revenue +12.4% year-over-year).
- 2023: Revenue of $150K, expenses of $143K, and assets of $484K (revenue -1.7% year-over-year).
- 2022: Revenue of $152K, expenses of $138K, and assets of $454K (revenue +6.1% year-over-year).
- 2021: Revenue of $144K, expenses of $108K, and assets of $348K (revenue +1.8% year-over-year).
- 2020: Revenue of $141K, expenses of $113K, and assets of $311K (revenue +23.2% year-over-year).
- 2019: Revenue of $114K, expenses of $106K, and assets of $284K (revenue +10.3% year-over-year).
- 2018: Revenue of $104K, expenses of $88K, and assets of $275K (revenue +12.8% year-over-year).
- 2017: Revenue of $92K, expenses of $78K, and assets of $259K (revenue -49.4% year-over-year).
- 2016: Revenue of $182K, expenses of $250K, and assets of $245K (revenue -0.1% year-over-year).
- 2015: Revenue of $182K, expenses of $97K, and assets of $313K (revenue +74.6% year-over-year).
- 2014: Revenue of $104K, expenses of $83K, and assets of $227K (revenue +41.4% year-over-year).
- 2013: Revenue of $74K, expenses of $71K, and assets of $206K (revenue -4.9% year-over-year).
- 2012: Revenue of $78K, expenses of $76K, and assets of $203K.
Data Sources and Methodology
This transparency report for Community 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.