Library Foundation Of New Hanover County
Library Foundation Of New Hanover County consistently grows assets with zero officer compensation reported.
EIN: 200547038 · Wilmington, NC · NTEE: B117 · Updated: 2026-03-28
Is Library Foundation Of New Hanover County Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Library Foundation Of New Hanover County directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Library Foundation Of New Hanover County
Library Foundation Of New Hanover County (EIN: 200547038) is a nonprofit organization based in Wilmington, NC, classified under NTEE code B117. The organization reported total revenue of $284K and total assets of $1.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Library Foundation Of New Hanover County's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Library Foundation Of New Hanover County is a small nonprofit that has been operating for 22 years, with 7 years of IRS 990 filings on record (2017–2023). Revenue has grown at a compound annual rate of 7.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $103K |
| Total Expenses | $75K |
| Surplus / Deficit | +$27K |
| Total Assets | $1.0M |
| Net Assets | $1.0M |
| Operating Margin | 26.5% |
| Months of Reserves | 161.0 months |
Financial Health Grade: A
In 2023, Library Foundation Of New Hanover County reported a surplus of $27K with revenue exceeding expenses, holds 161.0 months of operating reserves (strong position).
Financial Trends
Over 7 years of filings (2017–2023), Library Foundation Of New Hanover County's revenue has grown at a compound annual growth rate (CAGR) of 7.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +125.2% | +9293.9% | +9.0% |
| 2022 | -47.6% | -98.4% | -13.8% |
| 2021 | +121.6% | +148.2% | +12.0% |
| 2020 | -52.5% | -71.0% | +14.4% |
| 2019 | +5.9% | +360.5% | +17.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 2004 |
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 Library Foundation Of New Hanover County with a Mission Score of 92 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, Library Foundation Of New Hanover County 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.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $27K, with revenue exceeding expenses.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that the organization is likely volunteer-led or operates with no paid officers, which is highly efficient for a nonprofit of its size.
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 Library Foundation Of New Hanover County:
- Consistent asset growth, from $689,061 in 2017 to $1,010,518 in 2023.
- Zero officer compensation reported across all filings, indicating high efficiency.
- No reported liabilities, demonstrating strong financial health and low risk.
- Expenses consistently lower than revenue, leading to financial surpluses.
- Clear alignment with its NTEE code (Public Libraries), indicating a focused mission.
Frequently Asked Questions about Library Foundation Of New Hanover County
Is Library Foundation Of New Hanover County a legitimate charity?
Based on AI analysis of IRS 990 filings, Library Foundation Of New Hanover County (EIN: 200547038) appears legitimate. Mission Score: 92/100. 0 red flags identified, 5 strengths noted.
How does Library Foundation Of New Hanover County spend its money?
Library Foundation Of New Hanover County directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Library Foundation Of New Hanover County tax-deductible?
Library Foundation Of New Hanover County is registered as a tax-exempt nonprofit (EIN: 200547038). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Library Foundation Of New Hanover County a good charity?
Based on its financial data, the Library Foundation Of New Hanover County appears to be a very good charity. It consistently grows its assets, has no reported liabilities, and reports 0% officer compensation, indicating highly efficient use of funds.
How does the organization manage its expenses?
The organization manages its expenses very efficiently. For example, in 2023, with revenue of $102,554, expenses were only $75,339, leaving a significant surplus. This trend is consistent across most years, demonstrating strong cost control.
What is the trend in the organization's assets?
The organization's assets have shown a consistent upward trend, growing from $689,061 in 2017 to $1,010,518 in 2023, indicating strong financial stewardship and growth in its endowment or reserves.
Filing History
IRS 990 filing history for Library Foundation Of New Hanover County showing financial trends over 7 years of public records:
Over 7 years of IRS 990 filings (2017–2023), Library Foundation Of New Hanover County's revenue has grown by 52.3%, moving from $67K to $103K. Total assets increased by 46.7% over the same period, from $689K to $1.0M. Total functional expenses rose by 399.9%, from $15K to $75K. In its most recent filing year (2023), Library Foundation Of New Hanover County reported a surplus of $27K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $103K | $75K | $1.0M | $0 | — | View 990 |
| 2022 | $46K | $802 | $927K | $0 | — | View 990 |
| 2021 | $87K | $51K | $1.1M | $0 | — | View 990 |
| 2020 | $39K | $20K | $959K | $0 | — | View 990 |
| 2019 | $83K | $70K | $839K | $0 | — | View 990 |
| 2018 | $78K | $15K | $711K | $0 | — | View 990 |
| 2017 | $67K | $15K | $689K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $103K, expenses of $75K, and assets of $1.0M (revenue +125.2% year-over-year).
- 2022: Revenue of $46K, expenses of $802, and assets of $927K (revenue -47.6% year-over-year).
- 2021: Revenue of $87K, expenses of $51K, and assets of $1.1M (revenue +121.6% year-over-year).
- 2020: Revenue of $39K, expenses of $20K, and assets of $959K (revenue -52.5% year-over-year).
- 2019: Revenue of $83K, expenses of $70K, and assets of $839K (revenue +5.9% year-over-year).
- 2018: Revenue of $78K, expenses of $15K, and assets of $711K (revenue +15.8% year-over-year).
- 2017: Revenue of $67K, expenses of $15K, and assets of $689K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Library Foundation Of New Hanover County:
Data Sources and Methodology
This transparency report for Library Foundation Of New Hanover County 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.