Patten Free Library
Patten Free Library maintains strong financial health with zero reported officer compensation.
EIN: 10211539 · Bath, ME · NTEE: B71Z · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $2.6M |
| Total Expenses | $1.1M |
| Program Spending | 90% |
| CEO/Top Officer Pay | $12,007,579 |
| Net Assets | $10.9M |
| Transparency Score | 95/100 |
Is Patten Free Library Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Patten Free Library directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Patten Free Library
Patten Free Library (EIN: 10211539) is a nonprofit organization based in Bath, ME, classified under NTEE code B71Z. The organization reported total revenue of $2.6M and total assets of $12.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Patten Free Library's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Patten Free Library is a mid-size nonprofit that has been operating for 92 years, with 12 years of IRS 990 filings on record (2012–2023). Revenue has grown at a compound annual rate of 4.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.3M |
| Total Expenses | $1.1M |
| Surplus / Deficit | +$242K |
| Total Assets | $10.9M |
| Total Liabilities | $31K |
| Net Assets | $10.9M |
| Operating Margin | 18.6% |
| Debt-to-Asset Ratio | 0.3% |
| Months of Reserves | 123.4 months |
Financial Health Grade: A
In 2023, Patten Free Library reported a surplus of $242K with revenue exceeding expenses, holds 123.4 months of operating reserves (strong position), has a debt-to-asset ratio of 0.3% (very low leverage).
Financial Trends
Over 12 years of filings (2012–2023), Patten Free Library's revenue has grown at a compound annual growth rate (CAGR) of 4.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -7.9% | +1.2% | +4.5% |
| 2022 | +12.1% | +12.6% | -17.0% |
| 2021 | +6.9% | -1.6% | +18.5% |
| 2020 | +3.6% | +2.6% | +4.4% |
| 2019 | -12.9% | +2.3% | +2.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2300 |
| IRS Ruling Date | 1934 |
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 Patten Free Library 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, Patten Free Library 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 $242K, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.3%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that no compensation is paid to officers or that leadership is entirely volunteer-based, which is highly unusual for an organization of this size and asset base ($12,007,579).
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 Patten Free Library's IRS 990 filings:
- Consistent 0% officer compensation reported, which is unusual for an organization of this size and could indicate a reporting anomaly or alternative compensation structure not immediately apparent.
Strengths
The following positive indicators were identified for Patten Free Library:
- Strong program spending focus, as implied by the 0% officer compensation and consistent positive net assets.
- Consistent growth in assets, from $9,147,054 in 2014 to $10,907,875 in 2023, indicating sound financial management.
- Healthy financial reserves, with assets significantly exceeding liabilities (e.g., $10,907,875 assets vs. $31,458 liabilities in 202306).
- Positive net income in most years, demonstrating the ability to cover expenses and build reserves.
Frequently Asked Questions about Patten Free Library
Is Patten Free Library a legitimate charity?
Based on AI analysis of IRS 990 filings, Patten Free Library (EIN: 10211539) some concerns. Mission Score: 95/100. 1 red flag identified, 4 strengths noted.
How does Patten Free Library spend its money?
Patten Free Library directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Patten Free Library tax-deductible?
Patten Free Library is registered as a tax-exempt nonprofit (EIN: 10211539). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Patten Free Library CEO make?
Patten Free Library's highest-compensated officer earns $12,007,579 annually. The organization reported $2.6M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
How does Patten Free Library compare to similar nonprofits?
With a transparency score of 95/100 (Excellent), Patten Free Library is above average for NTEE category B71Z nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Patten Free Library located?
Patten Free Library is headquartered in Bath, Maine and files with the IRS under EIN 10211539. It is classified under NTEE code B71Z.
How many years of IRS 990 filings does Patten Free Library have?
Patten Free Library 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 $2.6M in total revenue.
How does Patten Free Library manage to operate with 0% reported officer compensation?
The consistent reporting of 0% officer compensation across all filings suggests that either the leadership is entirely volunteer-based, or compensation for key management personnel is categorized differently (e.g., as program or administrative staff salaries) and not reported under 'officer compensation' on the 990 form. Further investigation into their detailed expense breakdown would be necessary to clarify this.
What is the primary source of Patten Free Library's revenue?
While specific revenue sources are not detailed in the provided data, the consistent high revenue figures (e.g., $1,302,929 in 202306) for a library typically indicate a mix of public funding, grants, donations, and potentially endowment income, given their substantial asset base.
Has Patten Free Library's financial stability improved over the last decade?
Yes, Patten Free Library has demonstrated improved financial stability. Their assets have grown from $9,147,054 in 2014 to $10,907,875 in 2023, and they consistently report positive net income in most years, indicating healthy financial management.
Filing History
IRS 990 filing history for Patten Free Library showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2012–2023), Patten Free Library's revenue has grown by 69.8%, moving from $767K to $1.3M. Total assets increased by 37.8% over the same period, from $7.9M to $10.9M. Total functional expenses rose by 43.4%, from $740K to $1.1M. In its most recent filing year (2023), Patten Free Library reported a surplus of $242K, with revenue exceeding expenses. The organization holds $31K in liabilities against $10.9M in assets (debt-to-asset ratio: 0.3%), resulting in net assets of $10.9M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.3M | $1.1M | $10.9M | $31K | — | — |
| 2022 | $1.4M | $1.0M | $10.4M | $7K | — | View 990 |
| 2021 | $1.3M | $930K | $12.6M | $26K | — | — |
| 2020 | $1.2M | $946K | $10.6M | $99K | — | View 990 |
| 2019 | $1.1M | $921K | $10.2M | $6K | — | View 990 |
| 2018 | $1.3M | $901K | $10.0M | $8K | — | View 990 |
| 2017 | $1.5M | $836K | $9.5M | $7K | — | View 990 |
| 2016 | $638K | $823K | $8.9M | $3K | — | View 990 |
| 2015 | $741K | $820K | $9.1M | $4K | — | View 990 |
| 2014 | $1.6M | $781K | $9.1M | $0 | — | View 990 |
| 2013 | $1.2M | $740K | $8.3M | $4K | — | View 990 |
| 2012 | $767K | $740K | $7.9M | $4K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.3M, expenses of $1.1M, and assets of $10.9M (revenue -7.9% year-over-year).
- 2022: Revenue of $1.4M, expenses of $1.0M, and assets of $10.4M (revenue +12.1% year-over-year).
- 2021: Revenue of $1.3M, expenses of $930K, and assets of $12.6M (revenue +6.9% year-over-year).
- 2020: Revenue of $1.2M, expenses of $946K, and assets of $10.6M (revenue +3.6% year-over-year).
- 2019: Revenue of $1.1M, expenses of $921K, and assets of $10.2M (revenue -12.9% year-over-year).
- 2018: Revenue of $1.3M, expenses of $901K, and assets of $10.0M (revenue -12.2% year-over-year).
- 2017: Revenue of $1.5M, expenses of $836K, and assets of $9.5M (revenue +133.7% year-over-year).
- 2016: Revenue of $638K, expenses of $823K, and assets of $8.9M (revenue -13.9% year-over-year).
- 2015: Revenue of $741K, expenses of $820K, and assets of $9.1M (revenue -53.7% year-over-year).
- 2014: Revenue of $1.6M, expenses of $781K, and assets of $9.1M (revenue +38.5% year-over-year).
- 2013: Revenue of $1.2M, expenses of $740K, and assets of $8.3M (revenue +50.4% year-over-year).
- 2012: Revenue of $767K, expenses of $740K, and assets of $7.9M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Patten Free Library:
Data Sources and Methodology
This transparency report for Patten Free 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.