North Haven Library Inc
North Haven Library Inc. shows strong financial growth and efficient spending with no officer compensation.
EIN: 16016566 · North Haven, ME · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $262K |
| Total Expenses | $62K |
| Program Spending | 90% |
| Net Assets | $1.1M |
| Transparency Score | 95/100 |
Is North Haven Library Inc Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
North Haven Library Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About North Haven Library Inc
North Haven Library Inc (EIN: 16016566) is a nonprofit organization based in North Haven, ME. The organization reported total revenue of $262K and total assets of $1.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of North Haven Library Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
North Haven Library Inc is a small nonprofit that has been operating for 54 years, with 12 years of IRS 990 filings on record (2010–2023). Revenue has grown at a compound annual rate of 22.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $610K |
| Total Expenses | $62K |
| Surplus / Deficit | +$548K |
| Total Assets | $1.1M |
| Total Liabilities | $966 |
| Net Assets | $1.1M |
| Operating Margin | 89.8% |
| Debt-to-Asset Ratio | 0.1% |
| Months of Reserves | 215.9 months |
Financial Health Grade: A
In 2023, North Haven Library Inc reported a surplus of $548K with revenue exceeding expenses, holds 215.9 months of operating reserves (strong position), has a debt-to-asset ratio of 0.1% (very low leverage).
Financial Trends
Over 12 years of filings (2010–2023), North Haven Library Inc's revenue has grown at a compound annual growth rate (CAGR) of 22.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +338.5% | +31.7% | +98.0% |
| 2022 | +55.2% | +0.8% | +10.5% |
| 2021 | +63.5% | -4.9% | +22.5% |
| 2020 | -38.8% | +12.1% | +1.2% |
| 2019 | +20.9% | -14.8% | +11.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 3000 |
| IRS Ruling Date | 1972 |
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 North Haven Library Inc with a Mission Score of 95 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, North Haven Library Inc 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 $548K, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.1%.
Executive Compensation Analysis
The organization reports 0% officer compensation across all available filings, indicating that its leadership is either entirely volunteer-based or compensated through other means not categorized as officer compensation, 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 North Haven Library Inc:
- Consistent 0% officer compensation, indicating high efficiency.
- Significant asset growth over time, demonstrating strong financial management (e.g., assets grew from $325,580 in 201607 to $1,123,988 in 202307).
- Low liabilities across all filing periods, suggesting minimal debt and sound financial health.
- Substantial revenue generation in the latest period ($610,243 in 202307) relative to expenses ($62,484), indicating strong fundraising or grant success.
- High program efficiency due to low administrative overhead and no reported officer compensation.
Frequently Asked Questions about North Haven Library Inc
Is North Haven Library Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, North Haven Library Inc (EIN: 16016566) appears legitimate. Mission Score: 95/100. 0 red flags identified, 5 strengths noted.
How does North Haven Library Inc spend its money?
North Haven Library Inc directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to North Haven Library Inc tax-deductible?
North Haven Library Inc is registered as a tax-exempt nonprofit (EIN: 16016566). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is North Haven Library Inc located?
North Haven Library Inc is headquartered in North Haven, Maine and files with the IRS under EIN 16016566.
How many years of IRS 990 filings does North Haven Library Inc have?
North Haven Library Inc has 12 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 $262K in total revenue.
How does North Haven Library Inc. manage to have 0% officer compensation?
The consistent reporting of 0% officer compensation suggests that the organization's leadership roles are likely filled by volunteers, or any compensation is structured in a way that it is not reported as officer compensation on the 990 form. This is a significant indicator of efficiency.
What caused the substantial revenue increase in the 202307 period?
The 202307 filing shows a revenue of $610,243, a dramatic increase from previous years. This could be due to a major grant, a successful capital campaign, or a significant donation, which would be worth investigating further in the full 990 form.
Is the organization's asset growth sustainable?
The organization has shown consistent asset growth, from $325,580 in 201607 to $1,123,988 in 202307. While the large jump in 202307 is notable, the overall trend suggests a strong capacity for asset accumulation, which is generally sustainable if revenue streams remain robust.
Filing History
IRS 990 filing history for North Haven Library Inc showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2010–2023), North Haven Library Inc's revenue has grown by 1284.8%, moving from $44K to $610K. Total assets increased by 397.8% over the same period, from $226K to $1.1M. Total functional expenses rose by 13.5%, from $55K to $62K. In its most recent filing year (2023), North Haven Library Inc reported a surplus of $548K, with revenue exceeding expenses. The organization holds $966 in liabilities against $1.1M in assets (debt-to-asset ratio: 0.1%), resulting in net assets of $1.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $610K | $62K | $1.1M | $966 | — | View 990 |
| 2022 | $139K | $47K | $568K | $945 | — | View 990 |
| 2021 | $90K | $47K | $514K | $69 | — | View 990 |
| 2020 | $55K | $49K | $420K | $93 | — | — |
| 2019 | $90K | $44K | $415K | $52 | — | View 990 |
| 2018 | $74K | $52K | $371K | $215 | — | View 990 |
| 2017 | $47K | $44K | $336K | $220 | — | View 990 |
| 2016 | $74K | $65K | $326K | $0 | — | View 990 |
| 2015 | $85K | $61K | $321K | $0 | — | View 990 |
| 2014 | $71K | $46K | $283K | $0 | — | View 990 |
| 2011 | $46K | $60K | $220K | $77 | — | View 990 |
| 2010 | $44K | $55K | $226K | $77 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $610K, expenses of $62K, and assets of $1.1M (revenue +338.5% year-over-year).
- 2022: Revenue of $139K, expenses of $47K, and assets of $568K (revenue +55.2% year-over-year).
- 2021: Revenue of $90K, expenses of $47K, and assets of $514K (revenue +63.5% year-over-year).
- 2020: Revenue of $55K, expenses of $49K, and assets of $420K (revenue -38.8% year-over-year).
- 2019: Revenue of $90K, expenses of $44K, and assets of $415K (revenue +20.9% year-over-year).
- 2018: Revenue of $74K, expenses of $52K, and assets of $371K (revenue +58.3% year-over-year).
- 2017: Revenue of $47K, expenses of $44K, and assets of $336K (revenue -36.3% year-over-year).
- 2016: Revenue of $74K, expenses of $65K, and assets of $326K (revenue -13.7% year-over-year).
- 2015: Revenue of $85K, expenses of $61K, and assets of $321K (revenue +20.2% year-over-year).
- 2014: Revenue of $71K, expenses of $46K, and assets of $283K (revenue +53.8% year-over-year).
- 2011: Revenue of $46K, expenses of $60K, and assets of $220K (revenue +4.8% year-over-year).
- 2010: Revenue of $44K, expenses of $55K, and assets of $226K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for North Haven Library Inc:
Data Sources and Methodology
This transparency report for North Haven Library Inc 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.