Jackson Memorial Library

Jackson Memorial Library maintains strong asset base despite consistent annual operating deficits.

EIN: 10379054 · Tenants Harbor, ME · Updated: 2026-03-28

$269KRevenue

$3.9MAssets

85/100Mission Score (Excellent)

About Jackson Memorial Library

Jackson Memorial Library (EIN: 10379054) is a nonprofit organization based in Tenants Harbor, ME. The organization reported total revenue of $269K and total assets of $3.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Jackson Memorial Library's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

Jackson Memorial Library demonstrates consistent financial stability with substantial assets relative to its annual expenses. While the organization has experienced fluctuating revenues, often spending more than it brings in during a given year (e.g., $215,250 revenue vs. $264,520 expenses in 2023), its significant asset base of nearly $3.9 million provides a strong buffer. The library's liabilities are consistently very low, indicating sound financial management and minimal debt burden.

The organization's transparency is high, as evidenced by its consistent filing of IRS Form 990s over many years. The absence of reported officer compensation across all available filings suggests that executive leadership may be volunteer-based or compensated through other means not captured in this specific line item, which is a positive indicator for donor confidence regarding administrative overhead. However, without a detailed breakdown of expenses, it's challenging to fully assess spending efficiency beyond the overall revenue-to-expense ratio.

Overall, Jackson Memorial Library appears to be a well-managed institution with a strong financial foundation, primarily supported by its substantial endowment or accumulated assets. Its consistent operation despite annual revenue shortfalls in several periods highlights its reliance on these reserves. The lack of officer compensation is a notable strength in terms of minimizing administrative costs.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Jackson 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: 15%
programs: 80%
fundraising: 5%

According to IRS 990 filings, Jackson Memorial Library allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.

Executive Compensation Analysis

Executive compensation is reported as 0% across all available filings, suggesting that the organization's leadership may be entirely volunteer-based or compensated through non-officer roles, which is highly favorable for minimizing administrative overhead.

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 Jackson Memorial Library's IRS 990 filings:

Consistent annual operating deficits (e.g., $215,250 revenue vs. $264,520 expenses in 2023), indicating reliance on asset drawdowns.

Strengths

The following positive indicators were identified for Jackson Memorial Library:

Substantial asset base ($3,893,668 latest assets) providing long-term financial stability.
Consistently low liabilities (e.g., $11,357 in 2023), indicating strong financial health and minimal debt.
0% reported officer compensation across all filings, suggesting efficient administrative cost management.
Consistent IRS 990 filing history, demonstrating strong transparency.

Frequently Asked Questions about Jackson Memorial Library

Is Jackson Memorial Library financially sustainable given its recurring operating deficits?

Yes, despite recurring operating deficits (e.g., $215,250 revenue vs. $264,520 expenses in 2023), the library's substantial assets of nearly $3.9 million provide a strong financial cushion, indicating long-term sustainability.

How does Jackson Memorial Library manage to operate with revenues often lower than expenses?

The library likely draws upon its significant asset base (e.g., $3,893,668 latest assets) to cover operational shortfalls, indicating a reliance on endowment income or accumulated reserves rather than solely annual fundraising.

What is the organization's approach to executive compensation?

The organization reports 0% officer compensation in all available filings, suggesting a volunteer-led executive structure or compensation through non-officer roles, which is a positive for administrative efficiency.

Are the library's liabilities a concern?

No, the library consistently maintains very low liabilities (e.g., $11,357 in 2023) relative to its assets, indicating sound financial management and minimal debt.

Filing History

IRS 990 filing history for Jackson Memorial Library showing financial trends over 13 years of public records:

Over 13 years of IRS 990 filings (2011–2023), Jackson Memorial Library's revenue has declined by 59.5%, moving from $531K to $215K. Total assets increased by 270.9% over the same period, from $1.0M to $3.8M. Total functional expenses rose by 21.3%, from $218K to $265K. In its most recent filing year (2023), Jackson Memorial Library reported a deficit of $49K, with expenses exceeding revenue. The organization holds $11K in liabilities against $3.8M in assets (debt-to-asset ratio: 0.3%), resulting in net assets of $3.8M.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$215K	$265K	$3.8M	$11K	—	—
2022	$221K	$296K	$3.7M	$13K	—	View 990
2021	$239K	$273K	$3.9M	$8K	—	—
2020	$362K	$279K	$3.8M	$10K	—	—
2019	$297K	$277K	$3.7M	$7K	—	View 990
2018	$168K	$282K	$3.7M	$9K	—	View 990
2017	$147K	$260K	$3.8M	$10K	—	View 990
2016	$173K	$253K	$3.8M	$7K	—	View 990
2015	$182K	$245K	$3.9M	$7K	—	View 990
2014	$275K	$263K	$3.8M	$4K	—	View 990
2013	$528K	$236K	$3.7M	$3K	—	View 990
2012	$2.5M	$177K	$3.4M	$3K	—	View 990
2011	$531K	$218K	$1.0M	$2K	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $215K, expenses of $265K, and assets of $3.8M (revenue -2.6% year-over-year).
2022: Revenue of $221K, expenses of $296K, and assets of $3.7M (revenue -7.6% year-over-year).
2021: Revenue of $239K, expenses of $273K, and assets of $3.9M (revenue -34.0% year-over-year).
2020: Revenue of $362K, expenses of $279K, and assets of $3.8M (revenue +21.7% year-over-year).
2019: Revenue of $297K, expenses of $277K, and assets of $3.7M (revenue +77.4% year-over-year).
2018: Revenue of $168K, expenses of $282K, and assets of $3.7M (revenue +13.7% year-over-year).
2017: Revenue of $147K, expenses of $260K, and assets of $3.8M (revenue -15.0% year-over-year).
2016: Revenue of $173K, expenses of $253K, and assets of $3.8M (revenue -5.0% year-over-year).
2015: Revenue of $182K, expenses of $245K, and assets of $3.9M (revenue -33.7% year-over-year).
2014: Revenue of $275K, expenses of $263K, and assets of $3.8M (revenue -47.9% year-over-year).
2013: Revenue of $528K, expenses of $236K, and assets of $3.7M (revenue -79.2% year-over-year).
2012: Revenue of $2.5M, expenses of $177K, and assets of $3.4M (revenue +376.6% year-over-year).
2011: Revenue of $531K, expenses of $218K, and assets of $1.0M.

Data Sources and Methodology

This transparency report for Jackson 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.