Kennebunk Free Library Association
Kennebunk Free Library Association maintains stable assets despite recent operating deficits and reports no officer compensation.
EIN: 10249983 · Kennebunk, ME · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.2M |
| Total Expenses | $1.1M |
| Program Spending | 85% |
| CEO/Top Officer Pay | $900,000 |
| Net Assets | $2.2M |
| Transparency Score | 90/100 |
Is Kennebunk Free Library Association Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Kennebunk Free Library Association directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Kennebunk Free Library Association
Kennebunk Free Library Association (EIN: 10249983) is a nonprofit organization based in Kennebunk, ME. The organization reported total revenue of $1.2M and total assets of $2.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Kennebunk Free Library Association's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Kennebunk Free Library Association is a mid-size nonprofit that has been operating for 82 years, with 12 years of IRS 990 filings on record (2012–2023). Revenue has grown at a compound annual rate of 2.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $925K |
| Total Expenses | $1.1M |
| Surplus / Deficit | $-169,570 |
| Total Assets | $2.3M |
| Total Liabilities | $68K |
| Net Assets | $2.2M |
| Operating Margin | -18.3% |
| Debt-to-Asset Ratio | 2.9% |
| Months of Reserves | 25.3 months |
Financial Health Grade: B
In 2023, Kennebunk Free Library Association reported a deficit of $170K with expenses exceeding revenue, holds 25.3 months of operating reserves (strong position), has a debt-to-asset ratio of 2.9% (very low leverage).
Financial Trends
Over 12 years of filings (2012–2023), Kennebunk Free Library Association's revenue has grown at a compound annual growth rate (CAGR) of 2.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -2.8% | +6.1% | -1.6% |
| 2022 | +1.1% | +13.7% | -14.6% |
| 2021 | +11.4% | -1.2% | +11.8% |
| 2020 | +7.5% | +0.7% | +0.5% |
| 2019 | -0.1% | +7.5% | -4.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 3000 |
| IRS Ruling Date | 1944 |
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 Kennebunk Free Library Association with a Mission Score of 90 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: 85%
- fundraising: 5%
According to IRS 990 filings, Kennebunk Free Library Association allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $170K, with expenses exceeding revenue.
- Debt-to-asset ratio: 2.9%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that no officers receive salaries from the organization, which is highly commendable for a nonprofit of its size with over $900,000 in annual expenses.
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 Kennebunk Free Library Association's IRS 990 filings:
- Consistent operating deficits in recent years (e.g., $169,570 in 202306, $79,905 in 202206) could indicate a need for revenue growth or expense management.
Strengths
The following positive indicators were identified for Kennebunk Free Library Association:
- Zero reported officer compensation across all filings, demonstrating excellent financial stewardship.
- Strong and stable asset base (over $2.3 million in 202306) provides financial resilience.
- Consistently low liabilities indicate minimal debt and sound financial management.
- Consistent filing history of IRS Form 990s demonstrates transparency and compliance.
Frequently Asked Questions about Kennebunk Free Library Association
Is Kennebunk Free Library Association a legitimate charity?
Kennebunk Free Library Association (EIN: 10249983) is a registered tax-exempt nonprofit based in Maine. Our AI analysis gives it a Mission Score of 90/100. It has 12 years of IRS 990 filings on record. Total revenue: $1.2M. 1 red flag identified. 4 strengths noted. Financial health grade: B.
How does Kennebunk Free Library Association spend its money?
Kennebunk Free Library Association directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Kennebunk Free Library Association tax-deductible?
Kennebunk Free Library Association is registered as a tax-exempt nonprofit (EIN: 10249983). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Kennebunk Free Library Association CEO make?
Kennebunk Free Library Association's highest-compensated officer earns $900,000 annually. The organization reported $1.2M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Kennebunk Free Library Association's spending goes to programs?
Kennebunk Free Library Association directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Kennebunk Free Library Association located?
Kennebunk Free Library Association is headquartered in Kennebunk, Maine and files with the IRS under EIN 10249983.
How many years of IRS 990 filings does Kennebunk Free Library Association have?
Kennebunk Free Library Association has 12 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 $1.2M in total revenue.
Is Kennebunk Free Library Association financially stable?
Yes, despite some recent operating deficits (e.g., $169,570 in 202306), the organization maintains a strong asset base of $2,305,550 in 202306 and very low liabilities, suggesting good long-term financial stability.
How does Kennebunk Free Library Association manage its executive compensation?
The organization reports 0% officer compensation in all available filings, indicating that no officers are paid, which is an excellent practice for a nonprofit.
What is the trend in the organization's revenue and expenses?
Revenue and expenses have generally fluctuated between $800,000 and $1,100,000 over the past decade, with expenses often slightly exceeding revenue in recent years, such as in 202306 and 202206.
Does the organization have significant debt?
No, the organization consistently reports very low liabilities, for example, $67,547 in 202306, which is a small fraction of its total assets.
Filing History
IRS 990 filing history for Kennebunk Free Library Association showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2012–2023), Kennebunk Free Library Association's revenue has grown by 33.5%, moving from $693K to $925K. Total assets increased by 5.9% over the same period, from $2.2M to $2.3M. Total functional expenses rose by 48.7%, from $736K to $1.1M. In its most recent filing year (2023), Kennebunk Free Library Association reported a deficit of $170K, with expenses exceeding revenue. The organization holds $68K in liabilities against $2.3M in assets (debt-to-asset ratio: 2.9%), resulting in net assets of $2.2M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $925K | $1.1M | $2.3M | $68K | — | View 990 |
| 2022 | $951K | $1.0M | $2.3M | $48K | — | View 990 |
| 2021 | $940K | $907K | $2.7M | $33K | — | View 990 |
| 2020 | $844K | $918K | $2.5M | $155K | — | View 990 |
| 2019 | $786K | $911K | $2.4M | $42K | — | View 990 |
| 2018 | $787K | $848K | $2.6M | $45K | — | View 990 |
| 2017 | $1.1M | $815K | $2.6M | $41K | — | View 990 |
| 2016 | $782K | $821K | $2.2M | $34K | — | View 990 |
| 2015 | $693K | $777K | $2.2M | $44K | — | View 990 |
| 2014 | $745K | $759K | $2.3M | $39K | — | View 990 |
| 2013 | $905K | $717K | $2.2M | $43K | — | View 990 |
| 2012 | $693K | $736K | $2.2M | $35K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $925K, expenses of $1.1M, and assets of $2.3M (revenue -2.8% year-over-year).
- 2022: Revenue of $951K, expenses of $1.0M, and assets of $2.3M (revenue +1.1% year-over-year).
- 2021: Revenue of $940K, expenses of $907K, and assets of $2.7M (revenue +11.4% year-over-year).
- 2020: Revenue of $844K, expenses of $918K, and assets of $2.5M (revenue +7.5% year-over-year).
- 2019: Revenue of $786K, expenses of $911K, and assets of $2.4M (revenue -0.1% year-over-year).
- 2018: Revenue of $787K, expenses of $848K, and assets of $2.6M (revenue -28.4% year-over-year).
- 2017: Revenue of $1.1M, expenses of $815K, and assets of $2.6M (revenue +40.6% year-over-year).
- 2016: Revenue of $782K, expenses of $821K, and assets of $2.2M (revenue +12.7% year-over-year).
- 2015: Revenue of $693K, expenses of $777K, and assets of $2.2M (revenue -6.9% year-over-year).
- 2014: Revenue of $745K, expenses of $759K, and assets of $2.3M (revenue -17.6% year-over-year).
- 2013: Revenue of $905K, expenses of $717K, and assets of $2.2M (revenue +30.6% year-over-year).
- 2012: Revenue of $693K, expenses of $736K, and assets of $2.2M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Kennebunk Free Library Association:
Data Sources and Methodology
This transparency report for Kennebunk Free Library Association 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.