Farmington Public Library Association
Farmington Public Library Association maintains strong asset growth and consistent operating surpluses with no executive compensation.
EIN: 16010068 · Farmington, ME · NTEE: B700 · Updated: 2026-03-28
Is Farmington Public Library Association Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Farmington Public Library Association directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Farmington Public Library Association
Farmington Public Library Association (EIN: 16010068) is a nonprofit organization based in Farmington, ME, classified under NTEE code B700. The organization reported total revenue of $360K and total assets of $1.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Farmington Public Library Association's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Farmington Public Library Association is a small nonprofit that has been operating for 62 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 7.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $470K |
| Total Expenses | $371K |
| Surplus / Deficit | +$100K |
| Total Assets | $2.9M |
| Total Liabilities | $5K |
| Net Assets | $2.9M |
| Operating Margin | 21.2% |
| Debt-to-Asset Ratio | 0.2% |
| Months of Reserves | 94.9 months |
Financial Health Grade: A
In 2023, Farmington Public Library Association reported a surplus of $100K with revenue exceeding expenses, holds 94.9 months of operating reserves (strong position), has a debt-to-asset ratio of 0.2% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Farmington Public Library Association's revenue has grown at a compound annual growth rate (CAGR) of 7.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +34.6% | +27.8% | +3.2% |
| 2022 | -27.5% | +11.5% | +2.2% |
| 2021 | +74.4% | +12.2% | +8.7% |
| 2020 | -1.1% | -13.3% | +1.8% |
| 2019 | +3.1% | +21.7% | +0.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2300 |
| IRS Ruling Date | 1964 |
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 Farmington Public 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, Farmington Public 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 $100K, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.2%.
Executive Compensation Analysis
The Farmington Public Library Association reports 0% officer compensation across all available filings, indicating that no executive salaries are paid, which is highly unusual for an organization of its size and suggests a volunteer-led or very lean administrative structure.
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.
Red Flags
The following concerns were identified during AI analysis of Farmington Public Library Association's IRS 990 filings:
- Lack of detailed expense breakdown prevents precise program vs. admin spending analysis from provided data.
Strengths
The following positive indicators were identified for Farmington Public Library Association:
- Consistent operating surpluses, such as $99,525 in 2023 ($470,475 revenue - $370,950 expenses).
- Strong and growing asset base, reaching $2,932,880 in 2023.
- Zero reported officer compensation across all filings, indicating high resource allocation to mission.
- Consistent IRS 990 filing history (13 filings) demonstrates transparency.
- Minimal liabilities in most years, indicating financial stability.
Frequently Asked Questions about Farmington Public Library Association
Is Farmington Public Library Association a legitimate charity?
Based on AI analysis of IRS 990 filings, Farmington Public Library Association (EIN: 16010068) some concerns. Mission Score: 95/100. 1 red flag identified, 5 strengths noted.
How does Farmington Public Library Association spend its money?
Farmington Public Library Association directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Farmington Public Library Association tax-deductible?
Farmington Public Library Association is registered as a tax-exempt nonprofit (EIN: 16010068). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Farmington Public Library Association a good charity?
Based on the provided data, the Farmington Public Library Association appears to be a very good charity. They consistently operate with a surplus, have a strong and growing asset base, and report 0% officer compensation, indicating a high dedication of resources to their mission.
How has the organization's financial health changed over time?
The organization's financial health has improved over time, with assets growing from $2,587,588 in 2014 to $2,932,880 in 2023. Revenue has also shown a general upward trend, reaching $470,475 in 2023, while expenses have been managed effectively to maintain surpluses.
What is the organization's approach to executive compensation?
The Farmington Public Library Association has a unique approach to executive compensation, reporting 0% officer compensation in all available filings. This suggests that leadership roles are either entirely volunteer-based or compensated through other means not categorized as officer compensation on the 990.
Filing History
IRS 990 filing history for Farmington Public Library Association showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Farmington Public Library Association's revenue has grown by 127.1%, moving from $207K to $470K. Total assets increased by 15.7% over the same period, from $2.5M to $2.9M. Total functional expenses rose by 71.3%, from $217K to $371K. In its most recent filing year (2023), Farmington Public Library Association reported a surplus of $100K, with revenue exceeding expenses. The organization holds $5K in liabilities against $2.9M in assets (debt-to-asset ratio: 0.2%), resulting in net assets of $2.9M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $470K | $371K | $2.9M | $5K | — | — |
| 2022 | $349K | $290K | $2.8M | $3K | — | View 990 |
| 2021 | $482K | $260K | $2.8M | $0 | — | View 990 |
| 2020 | $276K | $232K | $2.6M | $0 | — | View 990 |
| 2019 | $279K | $268K | $2.5M | $0 | — | View 990 |
| 2018 | $271K | $220K | $2.5M | $0 | — | View 990 |
| 2017 | $415K | $227K | $2.6M | $119K | — | View 990 |
| 2016 | $169K | $193K | $2.5M | $119K | — | View 990 |
| 2015 | $181K | $220K | $2.5M | $119K | — | View 990 |
| 2014 | $251K | $174K | $2.6M | $0 | — | View 990 |
| 2013 | $263K | $214K | $2.7M | $0 | — | View 990 |
| 2012 | $242K | $209K | $2.6M | $0 | — | View 990 |
| 2011 | $207K | $217K | $2.5M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $470K, expenses of $371K, and assets of $2.9M (revenue +34.6% year-over-year).
- 2022: Revenue of $349K, expenses of $290K, and assets of $2.8M (revenue -27.5% year-over-year).
- 2021: Revenue of $482K, expenses of $260K, and assets of $2.8M (revenue +74.4% year-over-year).
- 2020: Revenue of $276K, expenses of $232K, and assets of $2.6M (revenue -1.1% year-over-year).
- 2019: Revenue of $279K, expenses of $268K, and assets of $2.5M (revenue +3.1% year-over-year).
- 2018: Revenue of $271K, expenses of $220K, and assets of $2.5M (revenue -34.7% year-over-year).
- 2017: Revenue of $415K, expenses of $227K, and assets of $2.6M (revenue +146.2% year-over-year).
- 2016: Revenue of $169K, expenses of $193K, and assets of $2.5M (revenue -7.0% year-over-year).
- 2015: Revenue of $181K, expenses of $220K, and assets of $2.5M (revenue -27.7% year-over-year).
- 2014: Revenue of $251K, expenses of $174K, and assets of $2.6M (revenue -4.6% year-over-year).
- 2013: Revenue of $263K, expenses of $214K, and assets of $2.7M (revenue +8.8% year-over-year).
- 2012: Revenue of $242K, expenses of $209K, and assets of $2.6M (revenue +16.6% year-over-year).
- 2011: Revenue of $207K, expenses of $217K, and assets of $2.5M.
Data Sources and Methodology
This transparency report for Farmington Public 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.