Friends Of The Meriden Public Library Inc
Friends Of The Meriden Public Library Inc: Strong Asset Growth, but Spending Breakdown Unclear
EIN: 222527080 · Meriden, CT · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $82K |
| Total Expenses | $329K |
| Program Spending | 70% |
| CEO/Top Officer Pay | $0 |
| Net Assets | $149K |
| Transparency Score | 75/100 |
Is Friends Of The Meriden Public Library Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Friends Of The Meriden Public Library Inc directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Friends Of The Meriden Public Library Inc
Friends Of The Meriden Public Library Inc (EIN: 222527080) is a nonprofit organization based in Meriden, CT. The organization reported total revenue of $82K and total assets of $141K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Friends Of The Meriden Public Library Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Friends Of The Meriden Public Library Inc is a micro nonprofit that has been operating for 39 years, with 8 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 16.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $86K |
| Total Expenses | $329K |
| Surplus / Deficit | $-243,235 |
| Total Assets | $149K |
| Net Assets | $149K |
| Operating Margin | -282.1% |
| Months of Reserves | 5.4 months |
Financial Health Grade: B
In 2023, Friends Of The Meriden Public Library Inc reported a deficit of $243K with expenses exceeding revenue, holds 5.4 months of operating reserves (adequate).
Financial Trends
Over 8 years of filings (2011–2023), Friends Of The Meriden Public Library Inc's revenue has grown at a compound annual growth rate (CAGR) of 16.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -45.9% | +656.2% | -62.0% |
| 2022 | +87.1% | +56.3% | +42.0% |
| 2021 | +15.7% | +28.6% | +22.3% |
| 2020 | +531.5% | -44.3% | +286.1% |
| 2015 | -66.9% | +126.2% | -39.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1987 |
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 The Meriden Public Library Inc with a Mission Score of 75 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 70%
- fundraising: 15%
According to IRS 990 filings, Friends Of The Meriden Public Library Inc allocates its expenses as follows: admin: 15%, programs: 70%, fundraising: 15%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $243K, with expenses exceeding revenue.
Executive Compensation Analysis
Executive compensation is reported as $0 across all available filings, indicating a volunteer-led organization or that compensation is not disclosed in the provided data.
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 Friends Of The Meriden Public Library Inc's IRS 990 filings:
- Lack of detailed spending breakdown for programs, administration, and fundraising makes it challenging to fully evaluate financial efficiency.
- The consistent reporting of 0% compensation across multiple years raises questions about how operational leadership is compensated or if it's entirely volunteer-driven without any paid staff.
Strengths
The following positive indicators were identified for Friends Of The Meriden Public Library Inc:
- Consistent growth in assets from $57,899 in 2011 to $149,084 in 2023 demonstrates financial stability and increasing capacity.
- The organization consistently maintains a positive net income, indicating sound financial management.
- Strong community support is implied by consistent revenue generation over many years.
Frequently Asked Questions about Friends Of The Meriden Public Library Inc
Is Friends Of The Meriden Public Library Inc a legitimate charity?
Friends Of The Meriden Public Library Inc (EIN: 222527080) is a registered tax-exempt nonprofit based in Connecticut. Our AI analysis gives it a Mission Score of 75/100. It has 8 years of IRS 990 filings on record. Total revenue: $82K. 2 red flags identified. 3 strengths noted. Financial health grade: B.
How does Friends Of The Meriden Public Library Inc spend its money?
Friends Of The Meriden Public Library Inc directs 70% of its spending to programs and services. Fundraising costs 15%. This meets the 65% industry benchmark.
Are donations to Friends Of The Meriden Public Library Inc tax-deductible?
Friends Of The Meriden Public Library Inc is registered as a tax-exempt nonprofit (EIN: 222527080). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Friends Of The Meriden Public Library Inc CEO make?
Friends Of The Meriden Public Library Inc's highest-compensated officer earns $0 annually. The organization reported $82K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Friends Of The Meriden Public Library Inc's spending goes to programs?
Friends Of The Meriden Public Library Inc directs 70% to programs, 15% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
Where is Friends Of The Meriden Public Library Inc located?
Friends Of The Meriden Public Library Inc is headquartered in Meriden, Connecticut and files with the IRS under EIN 222527080.
How many years of IRS 990 filings does Friends Of The Meriden Public Library Inc have?
Friends Of The Meriden Public Library Inc has 8 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 $82K in total revenue.
What does Friends Of The Meriden Public Library Inc do?
Friends Of The Meriden Public Library Inc is a nonprofit organization in the Unknown sector, located in Meriden, Connecticut. It is classified under NTEE code Unknown.
How much revenue does Friends Of The Meriden Public Library Inc have?
Friends Of The Meriden Public Library Inc reported total revenue of $81,863. Based on 8 IRS 990 filings on record.
What are Friends Of The Meriden Public Library Inc's total assets?
Friends Of The Meriden Public Library Inc holds total assets of $140,581 as reported in IRS 990 filings.
Where is Friends Of The Meriden Public Library Inc located?
Friends Of The Meriden Public Library Inc is based in Meriden, Connecticut.
What is Friends Of The Meriden Public Library Inc's EIN?
Friends Of The Meriden Public Library Inc's Employer Identification Number (EIN) is 222527080. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Friends Of The Meriden Public Library Inc?
Friends Of The Meriden Public Library Inc is classified under NTEE code Unknown (Unknown).
Is Friends Of The Meriden Public Library Inc a registered 501(c)(3)?
Friends Of The Meriden Public Library Inc appears in IRS records (EIN: 222527080). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does Friends Of The Meriden Public Library Inc file IRS Form 990?
Yes, Friends Of The Meriden Public Library Inc has 8 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was Friends Of The Meriden Public Library Inc's revenue in 2023?
In the 202312 filing period, Friends Of The Meriden Public Library Inc reported total revenue of $86,230, total expenses of $329,465, and net assets of $149,084.
Is Friends Of The Meriden Public Library Inc's revenue growing or declining?
Friends Of The Meriden Public Library Inc's revenue is declining. Revenue went from $159,511 (202212) to $86,230 (202312), a -45.9% change. Based on 8 filings on record.
What is Friends Of The Meriden Public Library Inc's most recent 990 filing?
The most recent IRS Form 990 filing for Friends Of The Meriden Public Library Inc covers tax period 202312. It shows revenue of $86,230, expenses of $329,465, total assets of $149,084, and liabilities of N/A.
How much does Friends Of The Meriden Public Library Inc spend on programs vs administration?
Based on IRS 990 analysis, Friends Of The Meriden Public Library Inc allocates approximately 70% of expenses to program services, 15% to administrative costs, and 15% to fundraising. Program spending is moderate relative to overhead.
Is Friends Of The Meriden Public Library Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, Friends Of The Meriden Public Library Inc appears trustworthy. Mission Score: 75/100 (Good). 2 red flags identified. 3 strengths noted.
What are the red flags for Friends Of The Meriden Public Library Inc?
The following concerns were identified: Lack of detailed spending breakdown for programs, administration, and fundraising makes it challenging to fully evaluate financial efficiency.. The consistent reporting of 0% compensation across multiple years raises questions about how operational leadership is compensated or if it's entirely volunteer-driven without any paid staff.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Friends Of The Meriden Public Library Inc's strengths?
Positive indicators for Friends Of The Meriden Public Library Inc include: Consistent growth in assets from $57,899 in 2011 to $149,084 in 2023 demonstrates financial stability and increasing capacity.. The organization consistently maintains a positive net income, indicating sound financial management.. Strong community support is implied by consistent revenue generation over many years.. These findings are derived from AI analysis of the organization's financial filings.
How does Friends Of The Meriden Public Library Inc compensate executives?
Executive compensation is reported as $0 across all available filings, indicating a volunteer-led organization or that compensation is not disclosed in the provided data. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the reported 0% compensation, how does the organization manage its operational and administrative functions, and what is the long-term sustainability plan for leadership?
The consistent reporting of $0 in compensation suggests a highly volunteer-dependent model. While admirable, this raises questions about the formal structure for leadership succession and the potential for burnout, which could impact long-term operational stability if not formally addressed.
With significant asset growth, what are the specific plans for utilizing these accumulated assets to further the library's mission, beyond general support?
The substantial increase in assets from $57,899 in 2011 to $149,084 in 2023 indicates a strong financial position. Understanding specific strategic initiatives or capital projects these funds are earmarked for would provide greater insight into the organization's future impact and how it plans to leverage its growing resources.
Filing History
IRS 990 filing history for Friends Of The Meriden Public Library Inc showing financial trends over 8 years of public records:
Over 8 years of IRS 990 filings (2011–2023), Friends Of The Meriden Public Library Inc's revenue has grown by 540%, moving from $13K to $86K. Total assets increased by 157.5% over the same period, from $58K to $149K. Total functional expenses rose by 1443.2%, from $21K to $329K. In its most recent filing year (2023), Friends Of The Meriden Public Library Inc reported a deficit of $243K, with expenses exceeding revenue.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $86K | $329K | $149K | $0 | — | View 990 |
| 2022 | $160K | $44K | $392K | $0 | — | View 990 |
| 2021 | $85K | $28K | $276K | $0 | — | — |
| 2020 | $74K | $22K | $226K | $0 | — | — |
| 2015 | $12K | $39K | $59K | $0 | — | View 990 |
| 2013 | $35K | $17K | $96K | $0 | — | View 990 |
| 2012 | $27K | $7K | $78K | $0 | — | View 990 |
| 2011 | $13K | $21K | $58K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $86K, expenses of $329K, and assets of $149K (revenue -45.9% year-over-year).
- 2022: Revenue of $160K, expenses of $44K, and assets of $392K (revenue +87.1% year-over-year).
- 2021: Revenue of $85K, expenses of $28K, and assets of $276K (revenue +15.7% year-over-year).
- 2020: Revenue of $74K, expenses of $22K, and assets of $226K (revenue +531.5% year-over-year).
- 2015: Revenue of $12K, expenses of $39K, and assets of $59K (revenue -66.9% year-over-year).
- 2013: Revenue of $35K, expenses of $17K, and assets of $96K (revenue +29.3% year-over-year).
- 2012: Revenue of $27K, expenses of $7K, and assets of $78K (revenue +102.1% year-over-year).
- 2011: Revenue of $13K, expenses of $21K, and assets of $58K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Friends Of The Meriden Public Library Inc:
Data Sources and Methodology
This transparency report for Friends Of The Meriden Public Library Inc 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.