Ogunquit Memorial Library

Ogunquit Memorial Library shows consistent asset growth and no reported officer compensation over a decade.

EIN: 10214019 · Ogunquit, ME · Updated: 2026-03-28

$292KRevenue

$1.0MAssets

90/100Mission Score (Excellent)

Is Ogunquit Memorial Library Legit?

Appears Legitimate

GoodFiling Consistency

ExcellentSpending Efficiency

GoodTransparency

NoneRed Flags

Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →

Ogunquit Memorial Library directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.

About Ogunquit Memorial Library

Ogunquit Memorial Library (EIN: 10214019) is a nonprofit organization based in Ogunquit, ME. The organization reported total revenue of $292K and total assets of $1.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Ogunquit Memorial Library's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

Ogunquit Memorial Library demonstrates consistent financial health with growing assets and generally positive net income over the past decade. In the latest filing (202312), the organization reported revenue of $213,437 against expenses of $187,018, contributing to its substantial asset base of $1,036,622. The library's liabilities remain relatively low at $59,247, indicating a strong balance sheet and fiscal stability. The absence of reported officer compensation across all available filings suggests a volunteer-driven leadership or that compensation falls below reporting thresholds, which can be a positive indicator of resource allocation directly to mission-related activities.

The organization's spending efficiency appears sound, with expenses consistently lower than revenue in most recent periods, allowing for asset growth. For instance, in 202312, expenses were approximately 87.6% of revenue. While a detailed breakdown of program, administrative, and fundraising expenses isn't explicitly provided in the summary data, the overall financial picture suggests a well-managed operation. The consistent growth in assets from $756,556 in 201112 to over $1 million in 202312 further underscores prudent financial management and sustainability.

Transparency is generally good given the availability of multiple years of IRS 990 filings. The consistent reporting of zero officer compensation is a notable point for transparency, indicating that leadership is either unpaid or compensated minimally. The consistent growth in assets and the relatively low liabilities suggest a responsible approach to financial stewardship, which aligns with good transparency practices.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Ogunquit Memorial Library with a Mission Score of 90 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: 15%
programs: 80%
fundraising: 5%

According to IRS 990 filings, Ogunquit Memorial 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.

Executive Compensation Analysis

No officer compensation has been reported in any of the available IRS 990 filings, suggesting that executive leadership is either entirely volunteer-based or compensated below the IRS reporting thresholds, which is highly favorable for a nonprofit of this size with over $1 million in assets.

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 Ogunquit Memorial Library:

Consistent asset growth, increasing from $756,556 in 201112 to $1,036,622 in 202312.
No reported officer compensation across all available filings, indicating efficient use of funds.
Strong financial stability with low liabilities relative to assets (e.g., $59,247 liabilities vs. $1,036,622 assets in 202312).
Generally positive net income in most periods, demonstrating sustainable operations (e.g., $213,437 revenue vs. $187,018 expenses in 202312).

Frequently Asked Questions about Ogunquit Memorial Library

Is Ogunquit Memorial Library a legitimate charity?

Based on AI analysis of IRS 990 filings, Ogunquit Memorial Library (EIN: 10214019) appears legitimate. Mission Score: 90/100. 0 red flags identified, 4 strengths noted.

How does Ogunquit Memorial Library spend its money?

Ogunquit Memorial Library directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.

Are donations to Ogunquit Memorial Library tax-deductible?

Ogunquit Memorial Library is registered as a tax-exempt nonprofit (EIN: 10214019). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.

Is Ogunquit Memorial Library a good charity?

Based on the available financial data, Ogunquit Memorial Library appears to be a well-managed and financially stable organization. It consistently grows its assets, maintains low liabilities, and reports no officer compensation, all of which are positive indicators of a good charity.

How has the library's financial health changed over time?

The library's financial health has steadily improved, with assets growing from $756,556 in 201112 to $1,036,622 in 202312. Revenue has also generally increased, and expenses have been managed effectively, leading to consistent net positive income in most years.

What is the organization's approach to executive compensation?

The organization reports 0% officer compensation across all available filings, indicating a strong commitment to directing resources towards its mission rather than high executive salaries. This suggests a volunteer-driven or very modestly compensated leadership structure.

Filing History

IRS 990 filing history for Ogunquit Memorial Library showing financial trends over 9 years of public records:

Over 9 years of IRS 990 filings (2011–2023), Ogunquit Memorial Library's revenue has grown by 94.4%, moving from $110K to $213K. Total assets increased by 37% over the same period, from $757K to $1.0M. Total functional expenses rose by 111.5%, from $88K to $187K. In its most recent filing year (2023), Ogunquit Memorial Library reported a surplus of $26K, with revenue exceeding expenses. The organization holds $59K in liabilities against $1.0M in assets (debt-to-asset ratio: 5.7%), resulting in net assets of $977K.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$213K	$187K	$1.0M	$59K	—	—
2022	$163K	$129K	$979K	$23K	—	View 990
2020	$152K	$132K	$953K	$46K	—	View 990
2019	$199K	$131K	$941K	$54K	—	View 990
2015	$205K	$92K	$872K	$2K	—	View 990
2014	$111K	$90K	$759K	$2K	—	View 990
2013	$88K	$89K	$736K	$216	—	View 990
2012	$78K	$95K	$737K	$308	—	View 990
2011	$110K	$88K	$757K	$3K	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $213K, expenses of $187K, and assets of $1.0M (revenue +30.8% year-over-year).
2022: Revenue of $163K, expenses of $129K, and assets of $979K (revenue +7.1% year-over-year).
2020: Revenue of $152K, expenses of $132K, and assets of $953K (revenue -23.6% year-over-year).
2019: Revenue of $199K, expenses of $131K, and assets of $941K (revenue -2.7% year-over-year).
2015: Revenue of $205K, expenses of $92K, and assets of $872K (revenue +84.2% year-over-year).
2014: Revenue of $111K, expenses of $90K, and assets of $759K (revenue +26.0% year-over-year).
2013: Revenue of $88K, expenses of $89K, and assets of $736K (revenue +12.7% year-over-year).
2012: Revenue of $78K, expenses of $95K, and assets of $737K (revenue -28.7% year-over-year).
2011: Revenue of $110K, expenses of $88K, and assets of $757K.

Data Sources and Methodology

This transparency report for Ogunquit Memorial 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.