Independence Public Libraryfoundation Inc

Independence Public Libraryfoundation Inc shows consistent asset growth and no executive compensation.

EIN: 205528960 · Independence, IA · NTEE: B117 · Updated: 2026-03-28

$229KRevenue

$412KAssets

95/100Mission Score (Excellent)

B117

About Independence Public Libraryfoundation Inc

Independence Public Libraryfoundation Inc (EIN: 205528960) is a nonprofit organization based in Independence, IA, classified under NTEE code B117. The organization reported total revenue of $229K and total assets of $412K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Independence Public Libraryfoundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

The Independence Public Libraryfoundation Inc demonstrates consistent financial health and a strong commitment to its mission, as evidenced by its IRS 990 filings. The organization has shown steady growth in assets, increasing from $119,171 in 2014 to $343,833 in 2023, indicating effective asset management and accumulation. Revenue has fluctuated but generally trended upwards, with the latest reported revenue at $228,714 and annual revenues ranging from $31,008 to $72,993 in recent years. The organization consistently reports zero liabilities, which is a significant strength, indicating sound financial management and no outstanding debt.

Spending efficiency appears high, particularly given the consistent reporting of 0% officer compensation across all available filings, suggesting that all funds are directed towards the organization's operational and programmatic needs rather than executive salaries. While a detailed breakdown of program, administrative, and fundraising expenses isn't explicitly provided in the summary data, the absence of officer compensation implies a lean operational structure. The NTEE code B117 (Library Foundations) further supports a focus on supporting public library services.

The organization's transparency is excellent, with 13 filings available, demonstrating a consistent record of public disclosure. The clear financial statements, including revenue, expenses, assets, and liabilities, provide a comprehensive view of its financial activities. The consistent reporting of zero liabilities and zero officer compensation are strong indicators of both financial prudence and a donor-centric approach, ensuring that contributions directly benefit the library's mission.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Independence Public Libraryfoundation Inc 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, Independence Public Libraryfoundation Inc 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 available filings, indicating that no officers or key employees receive salaries from the organization, which is highly commendable for an organization of its size with latest revenue of $228,714.

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 Independence Public Libraryfoundation Inc:

Consistent asset growth, from $119,171 in 2014 to $343,833 in 2023.
Zero liabilities reported across all 13 filings, indicating strong financial stability.
0% officer compensation reported consistently, ensuring funds are directed to mission.
Strong program focus implied by the absence of executive compensation and NTEE code B117.
Excellent transparency with 13 available IRS 990 filings.

Frequently Asked Questions about Independence Public Libraryfoundation Inc

Is Independence Public Libraryfoundation Inc a good charity?

Based on the available IRS 990 data, Independence Public Libraryfoundation Inc appears to be a very good charity. It demonstrates strong financial health with growing assets, no liabilities, and a remarkable commitment to its mission by not paying any officer compensation.

How has the organization's financial health changed over time?

The organization's financial health has steadily improved, with assets growing from $119,171 in 2014 to $343,833 in 2023. Liabilities have consistently remained at $0, indicating excellent financial stability.

What is the organization's approach to executive compensation?

The organization has a highly commendable approach to executive compensation, consistently reporting 0% officer compensation across all 13 filings. This means all funds are directed towards the organization's mission rather than executive salaries.

Filing History

IRS 990 filing history for Independence Public Libraryfoundation Inc showing financial trends over 13 years of public records:

Over 13 years of IRS 990 filings (2011–2023), Independence Public Libraryfoundation Inc's revenue has declined by 39.8%, moving from $92K to $55K. Total assets increased by 333.6% over the same period, from $79K to $344K. Total functional expenses fell by 10.3%, from $44K to $39K. In its most recent filing year (2023), Independence Public Libraryfoundation Inc reported a surplus of $16K, with revenue exceeding expenses.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$55K	$39K	$344K	$0	—	—
2022	$55K	$33K	$238K	$0	—	View 990
2021	$73K	$25K	$216K	$0	—	—
2020	$31K	$27K	$168K	$0	—	—
2019	$33K	$4K	$162K	$0	—	View 990
2018	$42K	$32K	$158K	$0	—	View 990
2017	$40K	$25K	$173K	$0	—	View 990
2016	$36K	$12K	$158K	$0	—	View 990
2015	$53K	$39K	$134K	$0	—	View 990
2014	$58K	$44K	$119K	$0	—	View 990
2013	$54K	$38K	$105K	$0	—	View 990
2012	$45K	$36K	$89K	$0	—	View 990
2011	$92K	$44K	$79K	$0	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $55K, expenses of $39K, and assets of $344K (revenue -0.5% year-over-year).
2022: Revenue of $55K, expenses of $33K, and assets of $238K (revenue -24.0% year-over-year).
2021: Revenue of $73K, expenses of $25K, and assets of $216K (revenue +135.4% year-over-year).
2020: Revenue of $31K, expenses of $27K, and assets of $168K (revenue -5.1% year-over-year).
2019: Revenue of $33K, expenses of $4K, and assets of $162K (revenue -22.8% year-over-year).
2018: Revenue of $42K, expenses of $32K, and assets of $158K (revenue +5.3% year-over-year).
2017: Revenue of $40K, expenses of $25K, and assets of $173K (revenue +10.4% year-over-year).
2016: Revenue of $36K, expenses of $12K, and assets of $158K (revenue -31.8% year-over-year).
2015: Revenue of $53K, expenses of $39K, and assets of $134K (revenue -8.2% year-over-year).
2014: Revenue of $58K, expenses of $44K, and assets of $119K (revenue +7.3% year-over-year).
2013: Revenue of $54K, expenses of $38K, and assets of $105K (revenue +20.0% year-over-year).
2012: Revenue of $45K, expenses of $36K, and assets of $89K (revenue -50.8% year-over-year).
2011: Revenue of $92K, expenses of $44K, and assets of $79K.

Data Sources and Methodology

This transparency report for Independence Public Libraryfoundation 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.