Kent Library Association
EIN: 60787760 · Kent, CT · NTEE: B70Z
Is Kent Library Association Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Kent Library Association
Kent Library Association (EIN: 60787760) is a nonprofit organization based in Kent, CT, classified under NTEE code B70Z. The organization reported total revenue of $2.1M and total assets of $4.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Kent Library Association's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Kent Library Association is a mid-size nonprofit that has been operating for 41 years, with 14 years of IRS 990 filings on record (2010–2023). Revenue has grown at a compound annual rate of 14.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.6M |
| Total Expenses | $409K |
| Surplus / Deficit | +$1.2M |
| Total Assets | $2.8M |
| Total Liabilities | $8K |
| Net Assets | $2.8M |
| Operating Margin | 74.7% |
| Debt-to-Asset Ratio | 0.3% |
| Months of Reserves | 82.9 months |
Financial Health Grade: A
In 2023, Kent Library Association reported a surplus of $1.2M with revenue exceeding expenses, holds 82.9 months of operating reserves (strong position), has a debt-to-asset ratio of 0.3% (very low leverage).
Financial Trends
Over 14 years of filings (2010–2023), Kent Library Association's revenue has grown at a compound annual growth rate (CAGR) of 14.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +227.0% | +12.1% | +82.6% |
| 2022 | -27.1% | -1.5% | -1.6% |
| 2021 | +66.9% | -4.2% | +22.2% |
| 2020 | -18.6% | +5.9% | +13.8% |
| 2019 | +32.3% | +7.3% | +23.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1985 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Kent Library Association has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Kent Library Association with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $1.2M, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.3%.
Frequently Asked Questions about Kent Library Association
Is Kent Library Association a legitimate charity?
Based on AI analysis of IRS 990 filings, Kent Library Association (EIN: 60787760) insufficient data. 0 red flags identified, 0 strengths noted.
How does Kent Library Association spend its money?
Detailed spending breakdown data is not yet available for Kent Library Association. Check back for updated IRS 990 analysis.
Are donations to Kent Library Association tax-deductible?
Kent Library Association is registered as a tax-exempt nonprofit (EIN: 60787760). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Filing History
IRS 990 filing history for Kent Library Association showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2010–2023), Kent Library Association's revenue has grown by 510.8%, moving from $265K to $1.6M. Total assets increased by 150.1% over the same period, from $1.1M to $2.8M. Total functional expenses rose by 63.7%, from $250K to $409K. In its most recent filing year (2023), Kent Library Association reported a surplus of $1.2M, with revenue exceeding expenses. The organization holds $8K in liabilities against $2.8M in assets (debt-to-asset ratio: 0.3%), resulting in net assets of $2.8M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.6M | $409K | $2.8M | $8K | — | — |
| 2022 | $494K | $365K | $1.5M | $67K | — | View 990 |
| 2021 | $677K | $370K | $1.6M | $67K | — | View 990 |
| 2020 | $406K | $387K | $1.3M | $99K | — | View 990 |
| 2019 | $499K | $365K | $1.1M | $53K | — | View 990 |
| 2018 | $377K | $340K | $919K | $57K | — | View 990 |
| 2017 | $365K | $299K | $1.3M | $53K | — | View 990 |
| 2016 | $277K | $294K | $1.2M | $56K | — | View 990 |
| 2015 | $293K | $322K | $1.1M | $49K | — | View 990 |
| 2014 | $279K | $295K | $1.2M | $47K | — | View 990 |
| 2013 | $255K | $307K | $1.2M | $45K | — | View 990 |
| 2012 | $248K | $257K | $1.1M | $60K | — | View 990 |
| 2011 | $244K | $254K | $1.1M | $87K | — | View 990 |
| 2010 | $265K | $250K | $1.1M | $49K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.6M, expenses of $409K, and assets of $2.8M (revenue +227.0% year-over-year).
- 2022: Revenue of $494K, expenses of $365K, and assets of $1.5M (revenue -27.1% year-over-year).
- 2021: Revenue of $677K, expenses of $370K, and assets of $1.6M (revenue +66.9% year-over-year).
- 2020: Revenue of $406K, expenses of $387K, and assets of $1.3M (revenue -18.6% year-over-year).
- 2019: Revenue of $499K, expenses of $365K, and assets of $1.1M (revenue +32.3% year-over-year).
- 2018: Revenue of $377K, expenses of $340K, and assets of $919K (revenue +3.3% year-over-year).
- 2017: Revenue of $365K, expenses of $299K, and assets of $1.3M (revenue +32.0% year-over-year).
- 2016: Revenue of $277K, expenses of $294K, and assets of $1.2M (revenue -5.6% year-over-year).
- 2015: Revenue of $293K, expenses of $322K, and assets of $1.1M (revenue +5.0% year-over-year).
- 2014: Revenue of $279K, expenses of $295K, and assets of $1.2M (revenue +9.4% year-over-year).
- 2013: Revenue of $255K, expenses of $307K, and assets of $1.2M (revenue +2.6% year-over-year).
- 2012: Revenue of $248K, expenses of $257K, and assets of $1.1M (revenue +2.0% year-over-year).
- 2011: Revenue of $244K, expenses of $254K, and assets of $1.1M (revenue -7.9% year-over-year).
- 2010: Revenue of $265K, expenses of $250K, and assets of $1.1M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Kent Library Association:
Data Sources and Methodology
This transparency report for Kent 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.