Free Public Library Association Of Vassalboro
Vassalboro Library Association shows strong financial growth and zero executive compensation.
EIN: 10476852 · E Vassalboro, ME · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $147K |
| Total Expenses | $118K |
| Program Spending | 90% |
| CEO/Top Officer Pay | $500,000. |
| Net Assets | $471K |
| Transparency Score | 95/100 |
Is Free Public Library Association Of Vassalboro Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Free Public Library Association Of Vassalboro directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Free Public Library Association Of Vassalboro
Free Public Library Association Of Vassalboro (EIN: 10476852) is a nonprofit organization based in E Vassalboro, ME. The organization reported total revenue of $147K and total assets of $513K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Free Public Library Association Of Vassalboro's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Free Public Library Association Of Vassalboro is a small nonprofit that has been operating for 33 years, with 13 years of IRS 990 filings on record (2012–2024). Revenue has grown at a compound annual rate of 7.7%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $143K |
| Total Expenses | $118K |
| Surplus / Deficit | +$25K |
| Total Assets | $471K |
| Net Assets | $471K |
| Operating Margin | 17.3% |
| Months of Reserves | 47.8 months |
Financial Health Grade: A
In 2024, Free Public Library Association Of Vassalboro reported a surplus of $25K with revenue exceeding expenses, holds 47.8 months of operating reserves (strong position).
Financial Trends
Over 13 years of filings (2012–2024), Free Public Library Association Of Vassalboro's revenue has grown at a compound annual growth rate (CAGR) of 7.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | +26.8% | +13.5% | +9.6% |
| 2023 | -4.7% | +63.9% | +4.7% |
| 2022 | +86.4% | -2.3% | -4.2% |
| 2021 | -17.8% | +27.7% | +27.6% |
| 2020 | +8.5% | +9.1% | +8.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| 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 Free Public Library Association Of Vassalboro 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: 7%
- programs: 90%
- fundraising: 3%
According to IRS 990 filings, Free Public Library Association Of Vassalboro 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 $25K, with revenue exceeding expenses.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that the organization's leadership is entirely volunteer-based, which is highly commendable for an organization with assets exceeding $500,000.
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 Free Public Library Association Of Vassalboro:
- Consistent asset growth, from $267,255 in 2015 to $513,499 currently.
- Zero reported liabilities across all filing periods.
- 0% officer compensation, indicating a volunteer-driven leadership.
- Revenue consistently exceeds expenses, allowing for financial stability and growth (e.g., 202406: Revenue=$143,191, Expenses=$118,366).
- Strong increase in revenue over the past decade, suggesting growing community support.
Frequently Asked Questions about Free Public Library Association Of Vassalboro
Is Free Public Library Association Of Vassalboro a legitimate charity?
Free Public Library Association Of Vassalboro (EIN: 10476852) is a registered tax-exempt nonprofit based in Maine. Our AI analysis gives it a Mission Score of 95/100. It has 13 years of IRS 990 filings on record. Total revenue: $147K. No red flags identified. 5 strengths noted. Financial health grade: A.
How does Free Public Library Association Of Vassalboro spend its money?
Free Public Library Association Of Vassalboro directs 90% of its spending to programs and services. Fundraising costs 3%. This exceeds the 65% industry benchmark.
Are donations to Free Public Library Association Of Vassalboro tax-deductible?
Free Public Library Association Of Vassalboro is registered as a tax-exempt nonprofit (EIN: 10476852). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Free Public Library Association Of Vassalboro CEO make?
Free Public Library Association Of Vassalboro's highest-compensated officer earns $500,000. annually. The organization reported $147K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Free Public Library Association Of Vassalboro's spending goes to programs?
Free Public Library Association Of Vassalboro directs 90% to programs, 3% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Free Public Library Association Of Vassalboro located?
Free Public Library Association Of Vassalboro is headquartered in E Vassalboro, Maine and files with the IRS under EIN 10476852.
How many years of IRS 990 filings does Free Public Library Association Of Vassalboro have?
Free Public Library Association Of Vassalboro has 13 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 $147K in total revenue.
Is the Free Public Library Association Of Vassalboro a good charity?
Based on the available financial data, the Free Public Library Association Of Vassalboro appears to be a very good charity. They demonstrate strong financial health with growing assets, consistent revenue, and no reported liabilities. Their 0% officer compensation indicates a highly dedicated, volunteer-led organization, and their spending efficiency is excellent, with expenses consistently below revenue.
How has the organization's financial health changed over time?
The organization's financial health has significantly improved over time. Assets have nearly doubled from $267,255 in 2015 to $513,499 currently. Revenue has also seen substantial growth, with the latest revenue of $147,304 being more than double the $65,239 reported in 2015. Expenses have generally remained well-managed relative to revenue, contributing to this positive trend.
What is the organization's approach to executive compensation?
The organization's approach to executive compensation is to have none. All available IRS 990 filings consistently report 0% officer compensation, indicating that the leadership and officers serve on a volunteer basis.
Filing History
IRS 990 filing history for Free Public Library Association Of Vassalboro showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2012–2024), Free Public Library Association Of Vassalboro's revenue has grown by 142.7%, moving from $59K to $143K. Total assets increased by 91.1% over the same period, from $247K to $471K. Total functional expenses rose by 121%, from $54K to $118K. In its most recent filing year (2024), Free Public Library Association Of Vassalboro reported a surplus of $25K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $143K | $118K | $471K | $0 | — | — |
| 2023 | $113K | $104K | $430K | $0 | — | — |
| 2022 | $119K | $64K | $411K | $0 | — | View 990 |
| 2021 | $64K | $65K | $429K | $0 | — | View 990 |
| 2020 | $77K | $51K | $336K | $0 | — | View 990 |
| 2019 | $71K | $47K | $310K | $0 | — | View 990 |
| 2018 | $62K | $52K | $285K | $0 | — | View 990 |
| 2017 | $51K | $48K | $276K | $0 | — | View 990 |
| 2016 | $53K | $47K | $273K | $0 | — | View 990 |
| 2015 | $65K | $52K | $267K | $0 | — | View 990 |
| 2014 | $60K | $49K | $254K | $0 | — | View 990 |
| 2013 | $49K | $53K | $242K | $0 | — | View 990 |
| 2012 | $59K | $54K | $247K | $1K | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $143K, expenses of $118K, and assets of $471K (revenue +26.8% year-over-year).
- 2023: Revenue of $113K, expenses of $104K, and assets of $430K (revenue -4.7% year-over-year).
- 2022: Revenue of $119K, expenses of $64K, and assets of $411K (revenue +86.4% year-over-year).
- 2021: Revenue of $64K, expenses of $65K, and assets of $429K (revenue -17.8% year-over-year).
- 2020: Revenue of $77K, expenses of $51K, and assets of $336K (revenue +8.5% year-over-year).
- 2019: Revenue of $71K, expenses of $47K, and assets of $310K (revenue +15.0% year-over-year).
- 2018: Revenue of $62K, expenses of $52K, and assets of $285K (revenue +22.7% year-over-year).
- 2017: Revenue of $51K, expenses of $48K, and assets of $276K (revenue -4.6% year-over-year).
- 2016: Revenue of $53K, expenses of $47K, and assets of $273K (revenue -18.9% year-over-year).
- 2015: Revenue of $65K, expenses of $52K, and assets of $267K (revenue +7.9% year-over-year).
- 2014: Revenue of $60K, expenses of $49K, and assets of $254K (revenue +22.8% year-over-year).
- 2013: Revenue of $49K, expenses of $53K, and assets of $242K (revenue -16.6% year-over-year).
- 2012: Revenue of $59K, expenses of $54K, and assets of $247K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Free Public Library Association Of Vassalboro:
Data Sources and Methodology
This transparency report for Free Public Library Association Of Vassalboro 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.