Friends Of The Millinocket Memorial Library

Friends Of The Millinocket Memorial Library consistently reports zero officer compensation and no liabilities, despite fluctuating revenues and expenses.

EIN: 10525313 · Millinocket, ME · NTEE: B19 · Updated: 2026-03-28

$5KRevenue

$0Assets

85/100Mission Score (Excellent)

B19

About Friends Of The Millinocket Memorial Library

Friends Of The Millinocket Memorial Library (EIN: 10525313) is a nonprofit organization based in Millinocket, ME, classified under NTEE code B19. The organization reported total revenue of $5K and total assets of $0 according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Friends Of The Millinocket Memorial Library's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

Friends Of The Millinocket Memorial Library demonstrates a consistent commitment to its mission, as evidenced by its 0% officer compensation across all reported periods, indicating that all resources are directed towards the organization's objectives. While the organization's revenue and expenses have fluctuated significantly over the years, with a peak revenue of $344,925 in 2017 and a more recent revenue of $19,174 in 2023, its liabilities have consistently remained at $0, suggesting sound financial management and a lack of debt. The organization's assets have also shown variability, peaking at $118,745 in 2016 and standing at $34,086 in 2023.

The organization's financial health appears stable, albeit with a smaller operational scale in recent years compared to its peak. The absence of officer compensation is a strong indicator of transparency and a focus on program delivery. However, without a detailed breakdown of expenses into program, administrative, and fundraising categories in the provided data, a precise assessment of spending efficiency is challenging. The consistent lack of liabilities is a significant positive, demonstrating fiscal responsibility.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Friends Of The Millinocket Memorial Library with a Mission Score of 85 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, Friends Of The Millinocket Memorial Library 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.

Executive Compensation Analysis

Executive compensation is consistently reported at 0% across all filings, indicating that no officers or key employees receive salaries from the organization, which is highly commendable for a nonprofit of its size.

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 Millinocket Memorial Library's IRS 990 filings:

Significant year-over-year fluctuations in revenue and expenses, indicating potential instability in funding sources.
Lack of detailed expense breakdown (program, admin, fundraising) in the provided data makes precise spending efficiency analysis difficult.

Strengths

The following positive indicators were identified for Friends Of The Millinocket Memorial Library:

Consistent 0% officer compensation, demonstrating strong commitment to mission and efficient use of funds.
Consistently reports $0 in liabilities, indicating excellent financial management and no debt.
Strong transparency regarding executive compensation.
Assets have been maintained over time, providing a financial cushion despite revenue fluctuations.

Frequently Asked Questions about Friends Of The Millinocket Memorial Library

How does Friends Of The Millinocket Memorial Library sustain its operations with 0% officer compensation?

The organization's consistent reporting of 0% officer compensation suggests that its leadership is either volunteer-based or compensated through other means not reported as officer compensation on the 990, allowing all revenue to support the library's mission.

What caused the significant fluctuations in revenue and expenses between 2017 and 2023?

The data shows a peak revenue of $344,925 in 2017 and a subsequent decrease to $19,174 in 2023. This could be due to large one-time grants, specific fundraising campaigns, or changes in donor base, but the provided data does not specify the exact reasons.

What is the primary source of funding for the organization given its fluctuating revenue?

While the specific sources are not detailed in the provided data, the variability in revenue suggests a reliance on grants, individual donations, or specific fundraising events rather than a consistent, large endowment or recurring institutional funding.

Filing History

IRS 990 filing history for Friends Of The Millinocket Memorial Library showing financial trends over 9 years of public records:

Over 9 years of IRS 990 filings (2015–2023), Friends Of The Millinocket Memorial Library's revenue has declined by 65.5%, moving from $56K to $19K. Total assets decreased by 48.7% over the same period, from $66K to $34K. Total functional expenses rose by 258.7%, from $6K to $22K. In its most recent filing year (2023), Friends Of The Millinocket Memorial Library reported a deficit of $3K, with expenses exceeding revenue.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$19K	$22K	$34K	$0	—	—
2022	$31K	$22K	$37K	$0	—	View 990
2021	$18K	$23K	$29K	$0	—	View 990
2020	$11K	$25K	$34K	$0	—	View 990
2019	$30K	$25K	$47K	$0	—	View 990
2018	$282K	$286K	$42K	$0	—	View 990
2017	$345K	$418K	$46K	$0	—	—
2016	$73K	$21K	$119K	$0	—	View 990
2015	$56K	$6K	$66K	$0	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $19K, expenses of $22K, and assets of $34K (revenue -37.1% year-over-year).
2022: Revenue of $31K, expenses of $22K, and assets of $37K (revenue +68.3% year-over-year).
2021: Revenue of $18K, expenses of $23K, and assets of $29K (revenue +64.2% year-over-year).
2020: Revenue of $11K, expenses of $25K, and assets of $34K (revenue -63.3% year-over-year).
2019: Revenue of $30K, expenses of $25K, and assets of $47K (revenue -89.3% year-over-year).
2018: Revenue of $282K, expenses of $286K, and assets of $42K (revenue -18.4% year-over-year).
2017: Revenue of $345K, expenses of $418K, and assets of $46K (revenue +371.5% year-over-year).
2016: Revenue of $73K, expenses of $21K, and assets of $119K (revenue +31.7% year-over-year).
2015: Revenue of $56K, expenses of $6K, and assets of $66K.

Data Sources and Methodology

This transparency report for Friends Of The Millinocket Memorial 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.