Louis T Graves Memorial Public Library Association

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Louis T Graves Memorial Public Library Association Form 990, Revenue, CEO Pay, and IRS Filing Signals

Louis T Graves Memorial Public Library Association is surfaced here as a decision-ready nonprofit financial profile, not just a charity listing. The page consolidates IRS Form 990 revenue, expenses, assets, tax-exempt classification, executive compensation, mission score, red flags, and year-by-year filing history so donors, researchers, journalists, and grant teams can answer the common search questions around Louis T Graves Memorial Public Library Association in one place.

Is Louis T Graves Memorial Public Library Association Legit?

Appears Legitimate

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Request a concise report for Louis T Graves Memorial Public Library Association with revenue, expenses, executive compensation, red flags, peer context, and IRS source links. You can also request CSV exports or watchlist updates for future filings.

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Louis T Graves Memorial Public Library Association directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.

About Louis T Graves Memorial Public Library Association

Louis T Graves Memorial Public Library Association (EIN: 10262394) is a nonprofit organization based in Kennebunkport, ME, classified under NTEE code B71Z. The organization reported total revenue of $2.1M and total assets of $4.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Louis T Graves Memorial Public Library Association's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

Organization Overview

Louis T Graves Memorial Public Library Association is a mid-size nonprofit that has been operating for 84 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 6.7%.

Key Financial Metrics (2023)

From the most recent IRS 990 filing on record:

Financial Health Grade: A

In 2023, Louis T Graves Memorial Public Library Association reported a surplus of $76K with revenue exceeding expenses, holds 102.8 months of operating reserves (strong position), has a debt-to-asset ratio of 0.7% (very low leverage).

Financial Trends

Over 13 years of filings (2011–2023), Louis T Graves Memorial Public Library Association's revenue has grown at a compound annual growth rate (CAGR) of 6.7%.

IRS Tax-Exempt Classification

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 Louis T Graves Memorial Public Library Association 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: 85%
• fundraising: 5%

According to IRS 990 filings, Louis T Graves Memorial Public 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 surplus of $76K, with revenue exceeding expenses.
• Debt-to-asset ratio: 0.7%.

Executive Compensation Analysis

The organization consistently reports 0% officer compensation across all available filings, suggesting that executive leadership may be volunteer-based or compensated through non-officer roles, which is highly unusual and commendable for an organization with assets exceeding $4 million.

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 Louis T Graves Memorial Public Library Association:

• Consistent asset growth, from $2.6M in 2015 to $4.4M in 2023.
• Extremely low liabilities relative to assets (e.g., $29,567 liabilities vs. $4.4M assets in 2023).
• Zero reported officer compensation across all filings, indicating high efficiency at the executive level.
• Revenues consistently exceed expenses in most years, leading to financial surpluses.
• Long history of consistent IRS 990 filings (13 filings), demonstrating transparency.

Frequently Asked Questions about Louis T Graves Memorial Public Library Association

Filing History

IRS 990 filing history for Louis T Graves Memorial Public Library Association showing financial trends over 13 years of public records:

Over 13 years of IRS 990 filings (2011–2023), Louis T Graves Memorial Public Library Association's revenue has grown by 117.1%, moving from $274K to $596K. Total assets increased by 156.6% over the same period, from $1.7M to $4.5M. Total functional expenses rose by 83.8%, from $283K to $520K. In its most recent filing year (2023), Louis T Graves Memorial Public Library Association reported a surplus of $76K, with revenue exceeding expenses. The organization holds $30K in liabilities against $4.5M in assets (debt-to-asset ratio: 0.7%), resulting in net assets of $4.4M.

Year-by-Year Financial Summary

• 2023: Revenue of $596K, expenses of $520K, and assets of $4.5M (revenue +27.8% year-over-year).
• 2022: Revenue of $466K, expenses of $468K, and assets of $4.2M (revenue -26.3% year-over-year).
• 2021: Revenue of $632K, expenses of $405K, and assets of $4.7M (revenue -19.6% year-over-year).
• 2020: Revenue of $786K, expenses of $407K, and assets of $4.4M (revenue +89.0% year-over-year).
• 2019: Revenue of $416K, expenses of $388K, and assets of $4.0M (revenue -25.6% year-over-year).
• 2018: Revenue of $558K, expenses of $424K, and assets of $3.8M (revenue -14.9% year-over-year).
• 2017: Revenue of $656K, expenses of $337K, and assets of $4.1M (revenue -26.0% year-over-year).
• 2016: Revenue of $887K, expenses of $320K, and assets of $3.2M (revenue +47.0% year-over-year).
• 2015: Revenue of $604K, expenses of $317K, and assets of $2.6M (revenue +100.1% year-over-year).
• 2014: Revenue of $302K, expenses of $306K, and assets of $2.6M (revenue -62.7% year-over-year).
• 2013: Revenue of $809K, expenses of $305K, and assets of $2.6M (revenue +81.6% year-over-year).
• 2012: Revenue of $445K, expenses of $291K, and assets of $1.9M (revenue +62.3% year-over-year).
• 2011: Revenue of $274K, expenses of $283K, and assets of $1.7M.

View Individual Filing Years

Explore detailed financial data from each IRS 990 filing year for Louis T Graves Memorial Public Library Association:

Data Sources and Methodology

This transparency report for Louis T Graves Memorial Public 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.