New Ipswich Library
New Ipswich Library consistently spends more than it earns, drawing down reserves despite growing assets.
EIN: 20262059 · New Ipswich, NH · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $797K |
| Total Expenses | $100K |
| Program Spending | 80% |
| Net Assets | $881K |
| Transparency Score | 70/100 |
Is New Ipswich Library Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
New Ipswich Library directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About New Ipswich Library
New Ipswich Library (EIN: 20262059) is a nonprofit organization based in New Ipswich, NH. The organization reported total revenue of $797K and total assets of $883K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of New Ipswich Library's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
New Ipswich Library is a small nonprofit that has been operating for 35 years, with 10 years of IRS 990 filings on record (2011–2024). Revenue has grown at a compound annual rate of 2.1%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $67K |
| Total Expenses | $100K |
| Surplus / Deficit | $-33,271 |
| Total Assets | $883K |
| Total Liabilities | $2K |
| Net Assets | $881K |
| Operating Margin | -49.7% |
| Debt-to-Asset Ratio | 0.2% |
| Months of Reserves | 105.7 months |
Financial Health Grade: B
In 2024, New Ipswich Library reported a deficit of $33K with expenses exceeding revenue, holds 105.7 months of operating reserves (strong position), has a debt-to-asset ratio of 0.2% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2024), New Ipswich Library's revenue has grown at a compound annual growth rate (CAGR) of 2.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | +50.7% | +24.4% | +7.1% |
| 2022 | -1.5% | +8.4% | -15.5% |
| 2021 | +6.2% | -4.2% | +11.5% |
| 2020 | +0.5% | +99.9% | +16.8% |
| 2016 | -26.5% | -13.8% | +2.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1991 |
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 New Ipswich Library 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: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, New Ipswich Library allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $33K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.2%.
Executive Compensation Analysis
Officer compensation is consistently reported as 0% across all available filings, indicating that the organization's leadership is either entirely volunteer-based or compensated through other means not classified as officer compensation, which is a positive for minimizing administrative overhead relative to 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.
Red Flags
The following concerns were identified during AI analysis of New Ipswich Library's IRS 990 filings:
- Consistent deficit spending in recent years (e.g., 2024 expenses $100,239 vs. revenue $66,968)
- Revenue has not kept pace with expenses in recent periods, potentially indicating reliance on reserves.
Strengths
The following positive indicators were identified for New Ipswich Library:
- Consistent growth in assets over the past decade, from $591,641 in 2011 to $882,978 in 2024.
- Zero reported officer compensation across all filings, indicating low administrative overhead.
- Long history of IRS 990 filings (10 filings), demonstrating transparency.
Frequently Asked Questions about New Ipswich Library
Is New Ipswich Library a legitimate charity?
Based on AI analysis of IRS 990 filings, New Ipswich Library (EIN: 20262059) some concerns. Mission Score: 70/100. 2 red flags identified, 3 strengths noted.
How does New Ipswich Library spend its money?
New Ipswich Library directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to New Ipswich Library tax-deductible?
New Ipswich Library is registered as a tax-exempt nonprofit (EIN: 20262059). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of New Ipswich Library's spending goes to programs?
New Ipswich Library directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is New Ipswich Library located?
New Ipswich Library is headquartered in New Ipswich, New Hampshire and files with the IRS under EIN 20262059.
How many years of IRS 990 filings does New Ipswich Library have?
New Ipswich Library has 10 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $797K in total revenue.
Is New Ipswich Library financially sustainable given recent deficits?
The library has consistently spent more than its revenue in recent years (e.g., $100,239 expenses vs. $66,968 revenue in 2024), which raises questions about its long-term financial sustainability if this trend continues without an increase in revenue or reduction in expenses.
How does the library cover its operational deficits?
Given the consistent deficits, the library is likely covering its operational costs by drawing down accumulated reserves or relying on prior period surpluses, as its assets have still grown over the long term.
What is the breakdown of the library's expenses?
While specific program, administrative, and fundraising percentages are not detailed in the provided data, the overall expense figures indicate a significant portion of revenue is being used for operations, often exceeding incoming funds.
Filing History
IRS 990 filing history for New Ipswich Library showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2024), New Ipswich Library's revenue has grown by 31.2%, moving from $51K to $67K. Total assets increased by 49.2% over the same period, from $592K to $883K. Total functional expenses rose by 166.7%, from $38K to $100K. In its most recent filing year (2024), New Ipswich Library reported a deficit of $33K, with expenses exceeding revenue. The organization holds $2K in liabilities against $883K in assets (debt-to-asset ratio: 0.2%), resulting in net assets of $881K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $67K | $100K | $883K | $2K | — | View 990 |
| 2022 | $44K | $81K | $824K | $1 | — | View 990 |
| 2021 | $45K | $74K | $976K | $2K | — | — |
| 2020 | $43K | $78K | $875K | $670 | — | — |
| 2016 | $42K | $39K | $749K | $542 | — | View 990 |
| 2015 | $57K | $45K | $734K | $542 | — | View 990 |
| 2014 | $31K | $45K | $707K | $662 | — | View 990 |
| 2013 | $58K | $46K | $667K | $587 | — | View 990 |
| 2012 | $54K | $39K | $591K | $0 | — | View 990 |
| 2011 | $51K | $38K | $592K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $67K, expenses of $100K, and assets of $883K (revenue +50.7% year-over-year).
- 2022: Revenue of $44K, expenses of $81K, and assets of $824K (revenue -1.5% year-over-year).
- 2021: Revenue of $45K, expenses of $74K, and assets of $976K (revenue +6.2% year-over-year).
- 2020: Revenue of $43K, expenses of $78K, and assets of $875K (revenue +0.5% year-over-year).
- 2016: Revenue of $42K, expenses of $39K, and assets of $749K (revenue -26.5% year-over-year).
- 2015: Revenue of $57K, expenses of $45K, and assets of $734K (revenue +83.5% year-over-year).
- 2014: Revenue of $31K, expenses of $45K, and assets of $707K (revenue -45.6% year-over-year).
- 2013: Revenue of $58K, expenses of $46K, and assets of $667K (revenue +7.1% year-over-year).
- 2012: Revenue of $54K, expenses of $39K, and assets of $591K (revenue +5.3% year-over-year).
- 2011: Revenue of $51K, expenses of $38K, and assets of $592K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for New Ipswich Library:
Data Sources and Methodology
This transparency report for New Ipswich Library 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.