Margaret Reaney Memorial Lib
Margaret Reaney Memorial Library consistently operates at a deficit, covering expenses with existing assets.
EIN: 156014999 · Providence, RI · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Expenses | $2K |
| Program Spending | 90% |
| Net Assets | $40K |
| Transparency Score | 70/100 |
Is Margaret Reaney Memorial Lib Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Margaret Reaney Memorial Lib directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Margaret Reaney Memorial Lib
Margaret Reaney Memorial Lib (EIN: 156014999) is a nonprofit organization based in Providence, RI. The organization reported total revenue of $0 and total assets of $0 according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Margaret Reaney Memorial Lib's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Margaret Reaney Memorial Lib is a micro nonprofit, with 5 years of IRS 990 filings on record (2011–2015). Revenue has grown at a compound annual rate of -19.9%.
Key Financial Metrics (2015)
From the most recent IRS 990 filing on record:
| Total Revenue | $2K |
| Total Expenses | $2K |
| Surplus / Deficit | $-882 |
| Total Assets | $40K |
| Total Liabilities | $1 |
| Net Assets | $40K |
| Operating Margin | -56.7% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 194.9 months |
Financial Health Grade: B
In 2015, Margaret Reaney Memorial Lib reported a deficit of $882 with expenses exceeding revenue, holds 194.9 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 5 years of filings (2011–2015), Margaret Reaney Memorial Lib's revenue has declined at a compound annual growth rate (CAGR) of -19.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2015 | +3.0% | -8.4% | -2.1% |
| 2014 | -73.4% | +9.9% | -0.8% |
| 2013 | +32.1% | +7.6% | +8.5% |
| 2012 | +13.7% | -7.0% | +5.7% |
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Margaret Reaney Memorial Lib with a Mission Score of 70 out of 100 (Good). 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, Margaret Reaney Memorial Lib 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 (2015)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $882, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all filings, indicating that the organization's leadership is likely volunteer-based, which is highly efficient for an organization of this 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.
Red Flags
The following concerns were identified during AI analysis of Margaret Reaney Memorial Lib's IRS 990 filings:
- Consistent operating deficits, with expenses exceeding revenue in all reported years (e.g., $2,437 expenses vs. $1,555 revenue in 2015).
Strengths
The following positive indicators were identified for Margaret Reaney Memorial Lib:
- Zero officer compensation, indicating efficient use of funds and likely volunteer leadership.
- Stable asset base, growing from $35,523 in 2011 to $39,572 in 2015, providing some financial cushion.
Frequently Asked Questions about Margaret Reaney Memorial Lib
Is Margaret Reaney Memorial Lib a legitimate charity?
Based on AI analysis of IRS 990 filings, Margaret Reaney Memorial Lib (EIN: 156014999) some concerns. Mission Score: 70/100. 1 red flag identified, 2 strengths noted.
How does Margaret Reaney Memorial Lib spend its money?
Margaret Reaney Memorial Lib directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Margaret Reaney Memorial Lib tax-deductible?
Margaret Reaney Memorial Lib is registered as a tax-exempt nonprofit (EIN: 156014999). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Margaret Reaney Memorial Lib located?
Margaret Reaney Memorial Lib is headquartered in Providence, Rhode Island and files with the IRS under EIN 156014999.
How many years of IRS 990 filings does Margaret Reaney Memorial Lib have?
Margaret Reaney Memorial Lib has 5 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends.
How does Margaret Reaney Memorial Library sustain its operations given consistent revenue deficits?
The library sustains operations by drawing from its existing assets, as evidenced by expenses consistently exceeding revenue (e.g., $2,437 expenses vs. $1,555 revenue in 2015).
What is the primary source of funding for the library?
Based on the filings, the primary source of funding appears to be a combination of small revenues (likely donations or minor grants) and reliance on its asset base, as no significant revenue streams are indicated.
Filing History
IRS 990 filing history for Margaret Reaney Memorial Lib showing financial trends over 5 years of public records:
Over 5 years of IRS 990 filings (2011–2015), Margaret Reaney Memorial Lib's revenue has declined by 58.8%, moving from $4K to $2K. Total assets increased by 11.4% over the same period, from $36K to $40K. Total functional expenses rose by 0.7%, from $2K to $2K. In its most recent filing year (2015), Margaret Reaney Memorial Lib reported a deficit of $882, with expenses exceeding revenue. The organization holds $1 in liabilities against $40K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $40K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2015 | $2K | $2K | $40K | $1 | — | View 990 |
| 2014 | $2K | $3K | $40K | $1 | — | View 990 |
| 2013 | $6K | $2K | $41K | $0 | — | View 990 |
| 2012 | $4K | $2K | $38K | $0 | — | View 990 |
| 2011 | $4K | $2K | $36K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2015: Revenue of $2K, expenses of $2K, and assets of $40K (revenue +3.0% year-over-year).
- 2014: Revenue of $2K, expenses of $3K, and assets of $40K (revenue -73.4% year-over-year).
- 2013: Revenue of $6K, expenses of $2K, and assets of $41K (revenue +32.1% year-over-year).
- 2012: Revenue of $4K, expenses of $2K, and assets of $38K (revenue +13.7% year-over-year).
- 2011: Revenue of $4K, expenses of $2K, and assets of $36K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Margaret Reaney Memorial Lib:
Data Sources and Methodology
This transparency report for Margaret Reaney Memorial Lib 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.