Falmouth Memorial Library Association
Falmouth Memorial Library Association maintains strong financial health with consistent surpluses and zero reported officer compensation.
EIN: 16004444 · Falmouth, ME · NTEE: B71Z · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.2M |
| Total Expenses | $1.1M |
| Program Spending | 90% |
| CEO/Top Officer Pay | $4.5 |
| Net Assets | $4.5M |
| Transparency Score | 92/100 |
Is Falmouth 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 →
Falmouth Memorial Library Association directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Falmouth Memorial Library Association
Falmouth Memorial Library Association (EIN: 16004444) is a nonprofit organization based in Falmouth, ME, classified under NTEE code B71Z. The organization reported total revenue of $1.2M and total assets of $4.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Falmouth Memorial Library Association's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Falmouth Memorial Library Association is a mid-size nonprofit that has been operating for 82 years, with 14 years of IRS 990 filings on record (2011–2024). Revenue has grown at a compound annual rate of 5.3%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.2M |
| Total Expenses | $1.1M |
| Surplus / Deficit | +$67K |
| Total Assets | $4.6M |
| Total Liabilities | $82K |
| Net Assets | $4.5M |
| Operating Margin | 5.8% |
| Debt-to-Asset Ratio | 1.8% |
| Months of Reserves | 50.1 months |
Financial Health Grade: A
In 2024, Falmouth Memorial Library Association reported a surplus of $67K with revenue exceeding expenses, holds 50.1 months of operating reserves (strong position), has a debt-to-asset ratio of 1.8% (very low leverage).
Financial Trends
Over 14 years of filings (2011–2024), Falmouth Memorial Library Association's revenue has grown at a compound annual growth rate (CAGR) of 5.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | -5.0% | +10.6% | +2.3% |
| 2023 | +62.9% | +9.6% | +6.1% |
| 2022 | -14.9% | +16.6% | -3.2% |
| 2021 | +26.5% | +34.2% | -45.4% |
| 2020 | -55.1% | -12.8% | +4.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2300 |
| IRS Ruling Date | 1944 |
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 Falmouth Memorial Library Association with a Mission Score of 92 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: 7%
- programs: 90%
- fundraising: 3%
According to IRS 990 filings, Falmouth Memorial Library Association allocates its expenses as follows: admin: 7%, programs: 90%, fundraising: 3%. 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 $67K, with revenue exceeding expenses.
- Debt-to-asset ratio: 1.8%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that officers are either uncompensated or compensated through non-officer categories, which is highly favorable for a nonprofit of its size with assets over $4.5 million.
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 Falmouth Memorial Library Association:
- Consistent operating surpluses, such as $67,324 in 202406, indicating sound financial management.
- Robust and growing asset base, reaching $4,600,107 in 202406, providing long-term stability.
- Extremely low liabilities, at $81,920 in 202406, suggesting minimal debt and strong financial health.
- Zero reported officer compensation across all filings, indicating high efficiency and dedication to mission.
- Strong history of IRS 990 filings (14 filings), demonstrating consistent transparency and compliance.
Frequently Asked Questions about Falmouth Memorial Library Association
Is Falmouth Memorial Library Association a legitimate charity?
Based on AI analysis of IRS 990 filings, Falmouth Memorial Library Association (EIN: 16004444) appears legitimate. Mission Score: 92/100. 0 red flags identified, 5 strengths noted.
How does Falmouth Memorial Library Association spend its money?
Falmouth Memorial Library Association directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Falmouth Memorial Library Association tax-deductible?
Falmouth Memorial Library Association is registered as a tax-exempt nonprofit (EIN: 16004444). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Falmouth Memorial Library Association CEO make?
Falmouth Memorial Library Association's highest-compensated officer earns $4.5 annually. The organization reported $1.2M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Falmouth Memorial Library Association's spending goes to programs?
Falmouth Memorial Library Association directs 90% to programs, 3% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Falmouth Memorial Library Association compare to similar nonprofits?
With a transparency score of 92/100 (Excellent), Falmouth Memorial Library Association is above average for NTEE category B71Z nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Falmouth Memorial Library Association located?
Falmouth Memorial Library Association is headquartered in Falmouth, Maine and files with the IRS under EIN 16004444. It is classified under NTEE code B71Z.
How many years of IRS 990 filings does Falmouth Memorial Library Association have?
Falmouth Memorial Library Association has 14 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 $1.2M in total revenue.
Is Falmouth Memorial Library Association a good charity?
Based on the provided financial data, the Falmouth Memorial Library Association appears to be a very good charity. It consistently operates with a surplus, maintains a strong asset base ($4.6M in 202406), and reports 0% officer compensation, suggesting efficient use of funds and strong dedication to its mission.
How has the organization's revenue trended over time?
The organization's revenue has shown some fluctuations but generally remains strong, with recent years (202306, 202406) exceeding $1.1 million. There was a notable peak in 201806 at $4,229,667, likely due to a specific fundraising event or large donation, but it has since stabilized at a healthy level.
What is the organization's financial stability?
The Falmouth Memorial Library Association demonstrates strong financial stability. It consistently maintains a healthy operating surplus (e.g., $67,324 in 202406) and has a robust asset base ($4,600,107 in 202406) with very low liabilities ($81,920 in 202406), indicating a secure financial position.
Filing History
IRS 990 filing history for Falmouth Memorial Library Association showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2011–2024), Falmouth Memorial Library Association's revenue has grown by 96.3%, moving from $595K to $1.2M. Total assets increased by 370.6% over the same period, from $978K to $4.6M. Total functional expenses rose by 80.4%, from $611K to $1.1M. In its most recent filing year (2024), Falmouth Memorial Library Association reported a surplus of $67K, with revenue exceeding expenses. The organization holds $82K in liabilities against $4.6M in assets (debt-to-asset ratio: 1.8%), resulting in net assets of $4.5M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $1.2M | $1.1M | $4.6M | $82K | — | View 990 |
| 2023 | $1.2M | $996K | $4.5M | $69K | — | View 990 |
| 2022 | $755K | $909K | $4.2M | $46K | — | View 990 |
| 2021 | $887K | $780K | $4.4M | $50K | — | — |
| 2020 | $702K | $581K | $8.0M | $512K | — | View 990 |
| 2019 | $1.6M | $666K | $7.7M | $301K | — | View 990 |
| 2018 | $4.2M | $690K | $6.8M | $308K | — | View 990 |
| 2017 | $1.4M | $705K | $3.1M | $308K | — | View 990 |
| 2016 | $1.5M | $757K | $2.4M | $295K | — | View 990 |
| 2015 | $911K | $651K | $1.6M | $327K | — | View 990 |
| 2014 | $616K | $659K | $1.3M | $305K | — | View 990 |
| 2013 | $571K | $585K | $1.1M | $31K | — | View 990 |
| 2012 | $670K | $620K | $1.0M | $27K | — | View 990 |
| 2011 | $595K | $611K | $978K | $27K | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $1.2M, expenses of $1.1M, and assets of $4.6M (revenue -5.0% year-over-year).
- 2023: Revenue of $1.2M, expenses of $996K, and assets of $4.5M (revenue +62.9% year-over-year).
- 2022: Revenue of $755K, expenses of $909K, and assets of $4.2M (revenue -14.9% year-over-year).
- 2021: Revenue of $887K, expenses of $780K, and assets of $4.4M (revenue +26.5% year-over-year).
- 2020: Revenue of $702K, expenses of $581K, and assets of $8.0M (revenue -55.1% year-over-year).
- 2019: Revenue of $1.6M, expenses of $666K, and assets of $7.7M (revenue -63.1% year-over-year).
- 2018: Revenue of $4.2M, expenses of $690K, and assets of $6.8M (revenue +198.7% year-over-year).
- 2017: Revenue of $1.4M, expenses of $705K, and assets of $3.1M (revenue -3.5% year-over-year).
- 2016: Revenue of $1.5M, expenses of $757K, and assets of $2.4M (revenue +61.1% year-over-year).
- 2015: Revenue of $911K, expenses of $651K, and assets of $1.6M (revenue +47.8% year-over-year).
- 2014: Revenue of $616K, expenses of $659K, and assets of $1.3M (revenue +7.9% year-over-year).
- 2013: Revenue of $571K, expenses of $585K, and assets of $1.1M (revenue -14.7% year-over-year).
- 2012: Revenue of $670K, expenses of $620K, and assets of $1.0M (revenue +12.5% year-over-year).
- 2011: Revenue of $595K, expenses of $611K, and assets of $978K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Falmouth Memorial Library Association:
Data Sources and Methodology
This transparency report for Falmouth 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.