Louis T Graves Memorial Public Library Association
Louis T Graves Memorial Public Library Association consistently maintains strong assets and low liabilities with no reported officer compensation.
EIN: 10262394 · Kennebunkport, ME · NTEE: B71Z · Updated: 2026-03-28
Is Louis T Graves Memorial Public Library Association Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
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.
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.
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
Is Louis T Graves Memorial Public Library Association a legitimate charity?
Based on AI analysis of IRS 990 filings, Louis T Graves Memorial Public Library Association (EIN: 10262394) appears legitimate. Mission Score: 92/100. 0 red flags identified, 5 strengths noted.
How does Louis T Graves Memorial Public Library Association spend its money?
Louis T Graves Memorial Public Library Association directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Louis T Graves Memorial Public Library Association tax-deductible?
Louis T Graves Memorial Public Library Association is registered as a tax-exempt nonprofit (EIN: 10262394). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is the Louis T Graves Memorial Public Library Association financially stable?
Yes, the organization appears financially stable, consistently maintaining healthy asset levels (e.g., $4,454,449 in 2023) and very low liabilities (e.g., $29,567 in 2023), with revenues generally exceeding expenses.
How does the library manage executive compensation?
The library reports 0% officer compensation in all available IRS 990 filings, indicating that its top leadership is either volunteer or compensated in a manner not categorized as officer compensation, which is a strong positive for efficiency.
Has the organization's financial health improved over time?
Yes, the organization's assets have shown consistent growth, from $2,602,236 in 2015 to $4,454,449 in 2023, while liabilities have remained low, indicating improving financial health.
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 | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $596K | $520K | $4.5M | $30K | — | — |
| 2022 | $466K | $468K | $4.2M | $33K | — | View 990 |
| 2021 | $632K | $405K | $4.7M | $33K | — | View 990 |
| 2020 | $786K | $407K | $4.4M | $9K | — | View 990 |
| 2019 | $416K | $388K | $4.0M | $8K | — | View 990 |
| 2018 | $558K | $424K | $3.8M | $74K | — | View 990 |
| 2017 | $656K | $337K | $4.1M | $405K | — | View 990 |
| 2016 | $887K | $320K | $3.2M | $7K | — | View 990 |
| 2015 | $604K | $317K | $2.6M | $6K | — | View 990 |
| 2014 | $302K | $306K | $2.6M | $5K | — | View 990 |
| 2013 | $809K | $305K | $2.6M | $6K | — | View 990 |
| 2012 | $445K | $291K | $1.9M | $4K | — | View 990 |
| 2011 | $274K | $283K | $1.7M | $8K | — | View 990 |
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.
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.