Friends Of Rockland Public Library
Friends Of Rockland Public Library maintains stable finances with growing assets and zero officer compensation.
EIN: 10478564 · Rockland, ME · NTEE: B117 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $62K |
| Total Expenses | $48K |
| Program Spending | 90% |
| CEO/Top Officer Pay | $60,000. |
| Net Assets | $184K |
| Transparency Score | 92/100 |
Is Friends Of Rockland Public Library Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Friends Of Rockland Public Library directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Friends Of Rockland Public Library
Friends Of Rockland Public Library (EIN: 10478564) is a nonprofit organization based in Rockland, ME, classified under NTEE code B117. The organization reported total revenue of $62K and total assets of $184K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Friends Of Rockland Public Library's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Friends Of Rockland Public Library is a micro nonprofit that has been operating for 33 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 1.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $64K |
| Total Expenses | $48K |
| Surplus / Deficit | +$16K |
| Total Assets | $184K |
| Net Assets | $184K |
| Operating Margin | 25.0% |
| Months of Reserves | 46.1 months |
Financial Health Grade: A
In 2023, Friends Of Rockland Public Library reported a surplus of $16K with revenue exceeding expenses, holds 46.1 months of operating reserves (strong position).
Financial Trends
Over 13 years of filings (2011–2023), Friends Of Rockland Public Library's revenue has grown at a compound annual growth rate (CAGR) of 1.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +7.4% | -3.7% | +9.5% |
| 2022 | -4.2% | -34.2% | +6.1% |
| 2021 | +15.7% | +111.3% | -7.6% |
| 2020 | -13.0% | -36.9% | +11.6% |
| 2019 | -8.8% | +7.5% | +3.3% |
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 Friends Of Rockland Public Library 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, Friends Of Rockland Public Library 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 (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $16K, with revenue exceeding expenses.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all filings, indicating that the organization's leadership is entirely volunteer-based, which is highly efficient for an organization of its size with annual revenues around $60,000.
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 Friends Of Rockland Public Library:
- Consistent asset growth, from $100,283 in 2014 to $184,454 in 2023.
- Zero liabilities reported across all 13 filings, indicating strong fiscal management.
- 0% officer compensation, maximizing funds for programs and operational efficiency.
- Stable revenue stream, averaging around $60,000-$70,000 annually.
- Excellent transparency with 13 consistent IRS 990 filings.
Frequently Asked Questions about Friends Of Rockland Public Library
Is Friends Of Rockland Public Library a legitimate charity?
Based on AI analysis of IRS 990 filings, Friends Of Rockland Public Library (EIN: 10478564) appears legitimate. Mission Score: 92/100. 0 red flags identified, 5 strengths noted.
How does Friends Of Rockland Public Library spend its money?
Friends Of Rockland Public Library directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Friends Of Rockland Public Library tax-deductible?
Friends Of Rockland Public Library is registered as a tax-exempt nonprofit (EIN: 10478564). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Friends Of Rockland Public Library CEO make?
Friends Of Rockland Public Library's highest-compensated officer earns $60,000. annually. The organization reported $62K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Friends Of Rockland Public Library's spending goes to programs?
Friends Of Rockland Public Library directs 90% to programs, 3% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Friends Of Rockland Public Library compare to similar nonprofits?
With a transparency score of 92/100 (Excellent), Friends Of Rockland Public Library is above average for NTEE category B117 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Friends Of Rockland Public Library located?
Friends Of Rockland Public Library is headquartered in Rockland, Maine and files with the IRS under EIN 10478564. It is classified under NTEE code B117.
How many years of IRS 990 filings does Friends Of Rockland Public Library have?
Friends Of Rockland Public Library 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 $62K in total revenue.
Is Friends Of Rockland Public Library a good charity?
Yes, based on the provided data, Friends Of Rockland Public Library appears to be a very good charity. It demonstrates strong financial health, consistent asset growth, zero liabilities, and operates with 0% officer compensation, indicating high efficiency and a strong focus on its mission.
How does the organization manage its finances without paid officers?
The consistent reporting of 0% officer compensation suggests that the organization is primarily run by volunteers at the leadership level. This model allows a greater proportion of its revenue to be directed towards its programs and operational costs, contributing to its financial efficiency.
Has the organization ever faced financial difficulties?
While the organization experienced expenses exceeding revenue in 2021 ($75,698 expenses vs. $62,176 revenue), it consistently maintained zero liabilities and had sufficient assets to cover this, indicating it managed this period without significant financial difficulty or debt.
Filing History
IRS 990 filing history for Friends Of Rockland Public Library showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Friends Of Rockland Public Library's revenue has grown by 24.3%, moving from $51K to $64K. Total assets increased by 184.8% over the same period, from $65K to $184K. Total functional expenses fell by 30.3%, from $69K to $48K. In its most recent filing year (2023), Friends Of Rockland Public Library reported a surplus of $16K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $64K | $48K | $184K | $0 | — | — |
| 2022 | $60K | $50K | $168K | $0 | — | — |
| 2021 | $62K | $76K | $159K | $0 | — | View 990 |
| 2020 | $54K | $36K | $172K | $0 | — | — |
| 2019 | $62K | $57K | $154K | $0 | — | View 990 |
| 2018 | $68K | $53K | $149K | $0 | — | View 990 |
| 2017 | $64K | $50K | $134K | $0 | — | View 990 |
| 2016 | $63K | $45K | $120K | $0 | — | View 990 |
| 2015 | $65K | $63K | $102K | $0 | — | View 990 |
| 2014 | $70K | $49K | $100K | $0 | — | View 990 |
| 2013 | $39K | $24K | $75K | $0 | — | View 990 |
| 2012 | $36K | $41K | $60K | $0 | — | View 990 |
| 2011 | $51K | $69K | $65K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $64K, expenses of $48K, and assets of $184K (revenue +7.4% year-over-year).
- 2022: Revenue of $60K, expenses of $50K, and assets of $168K (revenue -4.2% year-over-year).
- 2021: Revenue of $62K, expenses of $76K, and assets of $159K (revenue +15.7% year-over-year).
- 2020: Revenue of $54K, expenses of $36K, and assets of $172K (revenue -13.0% year-over-year).
- 2019: Revenue of $62K, expenses of $57K, and assets of $154K (revenue -8.8% year-over-year).
- 2018: Revenue of $68K, expenses of $53K, and assets of $149K (revenue +5.3% year-over-year).
- 2017: Revenue of $64K, expenses of $50K, and assets of $134K (revenue +2.8% year-over-year).
- 2016: Revenue of $63K, expenses of $45K, and assets of $120K (revenue -4.1% year-over-year).
- 2015: Revenue of $65K, expenses of $63K, and assets of $102K (revenue -6.7% year-over-year).
- 2014: Revenue of $70K, expenses of $49K, and assets of $100K (revenue +77.4% year-over-year).
- 2013: Revenue of $39K, expenses of $24K, and assets of $75K (revenue +9.9% year-over-year).
- 2012: Revenue of $36K, expenses of $41K, and assets of $60K (revenue -30.3% year-over-year).
- 2011: Revenue of $51K, expenses of $69K, and assets of $65K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Friends Of Rockland Public Library:
Data Sources and Methodology
This transparency report for Friends Of Rockland Public 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.