Jesup Memorial Library
Jesup Memorial Library shows strong asset growth and no reported officer compensation.
EIN: 10214017 · Bar Harbor, ME · NTEE: B71Z · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.9M |
| Total Expenses | $872K |
| Program Spending | 80% |
| CEO/Top Officer Pay | $16,311,354 |
| Net Assets | $13.6M |
| Transparency Score | 85/100 |
Is Jesup Memorial Library Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Jesup Memorial Library directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Jesup Memorial Library
Jesup Memorial Library (EIN: 10214017) is a nonprofit organization based in Bar Harbor, ME, classified under NTEE code B71Z. The organization reported total revenue of $1.9M and total assets of $16.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Jesup Memorial Library's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Jesup Memorial Library is a mid-size nonprofit that has been operating for 81 years, with 11 years of IRS 990 filings on record (2011–2022). Revenue has grown at a compound annual rate of 27.8%.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
| Total Revenue | $6.4M |
| Total Expenses | $872K |
| Surplus / Deficit | +$5.5M |
| Total Assets | $13.7M |
| Total Liabilities | $50K |
| Net Assets | $13.6M |
| Operating Margin | 86.3% |
| Debt-to-Asset Ratio | 0.4% |
| Months of Reserves | 188.1 months |
Financial Health Grade: A
In 2022, Jesup Memorial Library reported a surplus of $5.5M with revenue exceeding expenses, holds 188.1 months of operating reserves (strong position), has a debt-to-asset ratio of 0.4% (very low leverage).
Financial Trends
Over 11 years of filings (2011–2022), Jesup Memorial Library's revenue has grown at a compound annual growth rate (CAGR) of 27.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2022 | +174.0% | +8.4% | +61.5% |
| 2021 | -24.8% | -4.2% | +24.8% |
| 2020 | +122.2% | -2.1% | +50.5% |
| 2019 | -25.9% | -2.3% | +24.1% |
| 2018 | +128.4% | +47.2% | +3.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 1945 |
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 Jesup 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: 80%
- fundraising: 10%
According to IRS 990 filings, Jesup Memorial Library allocates its expenses as follows: admin: 10%, programs: 80%, fundraising: 10%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $5.5M, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.4%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that no salaries are paid to officers, which is highly unusual for an organization of its size and asset base ($16,311,354). This suggests either a fully volunteer-led executive team or that compensation is reported under other categories, warranting further investigation.
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 Jesup Memorial Library's IRS 990 filings:
- Unusually low reported liabilities relative to assets, especially in earlier years, which could indicate incomplete reporting or specific financial structures.
- Consistent 0% officer compensation for an organization of this size and asset base, which is highly atypical and warrants further scrutiny into how leadership is compensated or structured.
Strengths
The following positive indicators were identified for Jesup Memorial Library:
- Strong and consistent asset growth over the past decade, indicating robust financial management and fundraising success (from $3.4M in 2012 to $16.3M currently).
- Significant revenue generation, with a peak of over $6.3 million in 2022, demonstrating strong donor support.
- Low liabilities relative to assets, suggesting a healthy balance sheet and financial stability.
- Consistent reporting of 0% officer compensation, implying that resources are directed away from executive salaries.
Frequently Asked Questions about Jesup Memorial Library
Is Jesup Memorial Library a legitimate charity?
Based on AI analysis of IRS 990 filings, Jesup Memorial Library (EIN: 10214017) some concerns. Mission Score: 85/100. 2 red flags identified, 4 strengths noted.
How does Jesup Memorial Library spend its money?
Jesup Memorial Library directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Jesup Memorial Library tax-deductible?
Jesup Memorial Library is registered as a tax-exempt nonprofit (EIN: 10214017). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Jesup Memorial Library CEO make?
Jesup Memorial Library's highest-compensated officer earns $16,311,354 annually. The organization reported $1.9M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Jesup Memorial Library's spending goes to programs?
Jesup Memorial Library directs 80% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Jesup Memorial Library compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Jesup Memorial Library is above average for NTEE category B71Z nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Jesup Memorial Library located?
Jesup Memorial Library is headquartered in Bar Harbor, Maine and files with the IRS under EIN 10214017. It is classified under NTEE code B71Z.
How many years of IRS 990 filings does Jesup Memorial Library have?
Jesup Memorial Library has 11 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 $1.9M in total revenue.
How does Jesup Memorial Library manage to operate with 0% reported officer compensation?
The consistent reporting of 0% officer compensation across all filings is highly unusual for an organization with revenues reaching over $6 million and assets exceeding $16 million. This could imply that executive functions are performed by volunteers, or that compensation for key personnel is categorized differently (e.g., as general staff salaries) rather than specifically as 'officer compensation' on the 990 form.
What is the primary driver behind the significant revenue fluctuations, such as the jump to $6,370,659 in 2022?
The revenue figures show considerable variability, with a notable spike to $6,370,659 in 2022. This could be attributed to a major capital campaign, a large one-time donation, or a significant grant. Understanding the source of these fluctuations is key to assessing the sustainability of their funding model.
What is the library's strategy for managing its rapidly growing assets?
With assets growing from $3.4 million in 2012 to over $16 million currently, the library has experienced substantial financial growth. It would be beneficial to understand their investment strategy and how these assets are being leveraged to support the library's mission and long-term sustainability.
Filing History
IRS 990 filing history for Jesup Memorial Library showing financial trends over 11 years of public records:
Over 11 years of IRS 990 filings (2011–2022), Jesup Memorial Library's revenue has grown by 1388%, moving from $428K to $6.4M. Total assets increased by 407.2% over the same period, from $2.7M to $13.7M. Total functional expenses rose by 141.9%, from $361K to $872K. In its most recent filing year (2022), Jesup Memorial Library reported a surplus of $5.5M, with revenue exceeding expenses. The organization holds $50K in liabilities against $13.7M in assets (debt-to-asset ratio: 0.4%), resulting in net assets of $13.6M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2022 | $6.4M | $872K | $13.7M | $50K | — | View 990 |
| 2021 | $2.3M | $804K | $8.5M | $16K | — | View 990 |
| 2020 | $3.1M | $840K | $6.8M | $18K | — | View 990 |
| 2019 | $1.4M | $858K | $4.5M | $25K | — | View 990 |
| 2018 | $1.9M | $879K | $3.6M | $7K | — | View 990 |
| 2016 | $823K | $597K | $3.5M | $853K | — | View 990 |
| 2015 | $401K | $575K | $3.3M | $847K | — | View 990 |
| 2014 | $498K | $437K | $3.7M | $765K | — | View 990 |
| 2013 | $470K | $419K | $3.6M | $766K | — | View 990 |
| 2012 | $380K | $395K | $3.4M | $762K | — | View 990 |
| 2011 | $428K | $361K | $2.7M | $16K | — | View 990 |
Year-by-Year Financial Summary
- 2022: Revenue of $6.4M, expenses of $872K, and assets of $13.7M (revenue +174.0% year-over-year).
- 2021: Revenue of $2.3M, expenses of $804K, and assets of $8.5M (revenue -24.8% year-over-year).
- 2020: Revenue of $3.1M, expenses of $840K, and assets of $6.8M (revenue +122.2% year-over-year).
- 2019: Revenue of $1.4M, expenses of $858K, and assets of $4.5M (revenue -25.9% year-over-year).
- 2018: Revenue of $1.9M, expenses of $879K, and assets of $3.6M (revenue +128.4% year-over-year).
- 2016: Revenue of $823K, expenses of $597K, and assets of $3.5M (revenue +105.3% year-over-year).
- 2015: Revenue of $401K, expenses of $575K, and assets of $3.3M (revenue -19.4% year-over-year).
- 2014: Revenue of $498K, expenses of $437K, and assets of $3.7M (revenue +5.9% year-over-year).
- 2013: Revenue of $470K, expenses of $419K, and assets of $3.6M (revenue +23.7% year-over-year).
- 2012: Revenue of $380K, expenses of $395K, and assets of $3.4M (revenue -11.3% year-over-year).
- 2011: Revenue of $428K, expenses of $361K, and assets of $2.7M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Jesup Memorial Library:
Data Sources and Methodology
This transparency report for Jesup 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.