Cornish Library Association
Cornish Library Association maintains strong asset growth and zero liabilities with volunteer leadership.
EIN: 16014486 · Cornish, ME · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $73K |
| Total Expenses | $49K |
| Program Spending | 85% |
| Net Assets | $1.4M |
| Transparency Score | 90/100 |
Is Cornish Library Association Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Cornish Library Association directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Cornish Library Association
Cornish Library Association (EIN: 16014486) is a nonprofit organization based in Cornish, ME. The organization reported total revenue of $73K and total assets of $1.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Cornish Library Association's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Cornish Library Association is a micro nonprofit that has been operating for 43 years, with 12 years of IRS 990 filings on record (2012–2023). Revenue has grown at a compound annual rate of -14.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $45K |
| Total Expenses | $49K |
| Surplus / Deficit | $-3,135 |
| Total Assets | $1.4M |
| Net Assets | $1.4M |
| Operating Margin | -6.9% |
| Months of Reserves | 338.6 months |
Financial Health Grade: B
In 2023, Cornish Library Association reported a deficit of $3K with expenses exceeding revenue, holds 338.6 months of operating reserves (strong position).
Financial Trends
Over 12 years of filings (2012–2023), Cornish Library Association's revenue has declined at a compound annual growth rate (CAGR) of -14.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -11.8% | +0.4% | -3.8% |
| 2022 | -29.6% | -2.0% | +0.8% |
| 2021 | +69.4% | -11.7% | +18.6% |
| 2020 | +10.3% | +4.2% | +12.0% |
| 2019 | +14.9% | -19.6% | +1.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 1983 |
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 Cornish 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: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Cornish Library Association 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 deficit of $3K, with expenses exceeding revenue.
Executive Compensation Analysis
Executive compensation is 0% across all reported periods, indicating that the organization's leadership is entirely volunteer-based, 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 Cornish Library Association:
- Consistent asset growth (from $943,855 in 2014 to $1,370,242 in 2023)
- Zero liabilities across all reported periods, indicating strong financial health
- 0% officer compensation, demonstrating volunteer-driven leadership and low administrative overhead
- Consistent IRS 990 filing history (12 filings), indicating good transparency and compliance
- Stable expense management despite revenue fluctuations
Frequently Asked Questions about Cornish Library Association
Is Cornish Library Association a legitimate charity?
Cornish Library Association (EIN: 16014486) is a registered tax-exempt nonprofit based in Maine. Our AI analysis gives it a Mission Score of 90/100. It has 12 years of IRS 990 filings on record. Total revenue: $73K. No red flags identified. 5 strengths noted. Financial health grade: B.
How does Cornish Library Association spend its money?
Cornish Library Association directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Cornish Library Association tax-deductible?
Cornish Library Association is registered as a tax-exempt nonprofit (EIN: 16014486). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Cornish Library Association's spending goes to programs?
Cornish Library Association directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Cornish Library Association located?
Cornish Library Association is headquartered in Cornish, Maine and files with the IRS under EIN 16014486.
How many years of IRS 990 filings does Cornish Library Association have?
Cornish Library Association has 12 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 $73K in total revenue.
Is Cornish Library Association a good charity?
Based on the provided financial data, the Cornish Library Association appears to be a very well-managed organization. It consistently maintains zero liabilities, has shown steady asset growth over a decade (from $943,855 in 2014 to $1,370,242 in 2023), and operates with 0% officer compensation, indicating a strong commitment to its mission and efficient use of funds.
How does the organization manage its finances given fluctuating revenue?
Despite revenue fluctuations (e.g., $206,485 in 2014 vs. $30,853 in 2017), the organization has maintained relatively stable expenses (typically $48,000-$66,000) and consistently grown its assets, suggesting prudent financial planning, potentially through endowment management or other stable income sources, to ensure long-term stability.
What is the trend in the organization's assets?
The organization's assets have shown a consistent upward trend, growing from $943,855 in 2014 to $1,370,242 in 2023, indicating strong financial health and accumulation of resources over time.
Filing History
IRS 990 filing history for Cornish Library Association showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2012–2023), Cornish Library Association's revenue has declined by 80.9%, moving from $238K to $45K. Total assets increased by 129.1% over the same period, from $598K to $1.4M. Total functional expenses rose by 3.1%, from $47K to $49K. In its most recent filing year (2023), Cornish Library Association reported a deficit of $3K, with expenses exceeding revenue.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $45K | $49K | $1.4M | $0 | — | View 990 |
| 2022 | $52K | $48K | $1.4M | $0 | — | View 990 |
| 2021 | $73K | $49K | $1.4M | $0 | — | — |
| 2020 | $43K | $56K | $1.2M | $0 | — | — |
| 2019 | $39K | $54K | $1.1M | $0 | — | View 990 |
| 2018 | $34K | $67K | $1.0M | $0 | — | View 990 |
| 2017 | $31K | $54K | $1.0M | $0 | — | View 990 |
| 2016 | $68K | $54K | $962K | $0 | — | View 990 |
| 2015 | $50K | $56K | $955K | $0 | — | View 990 |
| 2014 | $206K | $52K | $944K | $0 | — | View 990 |
| 2013 | $131K | $50K | $843K | $0 | — | View 990 |
| 2012 | $238K | $47K | $598K | $-34,074 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $45K, expenses of $49K, and assets of $1.4M (revenue -11.8% year-over-year).
- 2022: Revenue of $52K, expenses of $48K, and assets of $1.4M (revenue -29.6% year-over-year).
- 2021: Revenue of $73K, expenses of $49K, and assets of $1.4M (revenue +69.4% year-over-year).
- 2020: Revenue of $43K, expenses of $56K, and assets of $1.2M (revenue +10.3% year-over-year).
- 2019: Revenue of $39K, expenses of $54K, and assets of $1.1M (revenue +14.9% year-over-year).
- 2018: Revenue of $34K, expenses of $67K, and assets of $1.0M (revenue +10.5% year-over-year).
- 2017: Revenue of $31K, expenses of $54K, and assets of $1.0M (revenue -54.4% year-over-year).
- 2016: Revenue of $68K, expenses of $54K, and assets of $962K (revenue +34.6% year-over-year).
- 2015: Revenue of $50K, expenses of $56K, and assets of $955K (revenue -75.6% year-over-year).
- 2014: Revenue of $206K, expenses of $52K, and assets of $944K (revenue +57.6% year-over-year).
- 2013: Revenue of $131K, expenses of $50K, and assets of $843K (revenue -44.9% year-over-year).
- 2012: Revenue of $238K, expenses of $47K, and assets of $598K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Cornish Library Association:
Data Sources and Methodology
This transparency report for Cornish 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.