Peabody Memorial Library
Peabody Memorial Library maintains strong asset growth and zero liabilities with no officer compensation.
EIN: 10318866 · Jonesport, ME · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $56K |
| Total Expenses | $56K |
| Program Spending | 85% |
| Net Assets | $618K |
| Transparency Score | 90/100 |
Is Peabody Memorial Library Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Peabody Memorial Library directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Peabody Memorial Library
Peabody Memorial Library (EIN: 10318866) is a nonprofit organization based in Jonesport, ME. The organization reported total revenue of $56K and total assets of $697K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Peabody Memorial Library's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Peabody Memorial Library is a micro nonprofit that has been operating for 53 years, with 11 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 4.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $77K |
| Total Expenses | $56K |
| Surplus / Deficit | +$21K |
| Total Assets | $618K |
| Net Assets | $618K |
| Operating Margin | 26.8% |
| Months of Reserves | 131.9 months |
Financial Health Grade: A
In 2023, Peabody Memorial Library reported a surplus of $21K with revenue exceeding expenses, holds 131.9 months of operating reserves (strong position).
Financial Trends
Over 11 years of filings (2011–2023), Peabody Memorial Library's revenue has grown at a compound annual growth rate (CAGR) of 4.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +44.4% | +19.7% | -11.8% |
| 2022 | +22.4% | -6.2% | +0.8% |
| 2021 | +8.5% | +4.3% | +2.2% |
| 2020 | -0.6% | -1.1% | +10.5% |
| 2019 | -30.3% | -3.2% | +8.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 1973 |
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 Peabody 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: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Peabody Memorial Library allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% 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 $21K, with revenue exceeding expenses.
Executive Compensation Analysis
The Peabody Memorial Library reports 0% officer compensation across all available filings, indicating a volunteer-led executive structure or that compensation is minimal and not reported as such, which is highly efficient for an organization 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 Peabody Memorial Library:
- Consistent asset growth, from $218,922 in 201212 to $617,501 in 202312.
- Zero reported liabilities across all filings, indicating strong financial health.
- 0% officer compensation reported, suggesting highly efficient use of funds for mission-related activities.
- Revenues generally exceed expenses in recent years, contributing to financial stability.
- Consistent IRS 990 filing history, demonstrating transparency.
Frequently Asked Questions about Peabody Memorial Library
Is Peabody Memorial Library a legitimate charity?
Based on AI analysis of IRS 990 filings, Peabody Memorial Library (EIN: 10318866) appears legitimate. Mission Score: 90/100. 0 red flags identified, 5 strengths noted.
How does Peabody Memorial Library spend its money?
Peabody Memorial Library directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Peabody Memorial Library tax-deductible?
Peabody Memorial Library is registered as a tax-exempt nonprofit (EIN: 10318866). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Peabody Memorial Library's spending goes to programs?
Peabody Memorial Library directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Peabody Memorial Library located?
Peabody Memorial Library is headquartered in Jonesport, Maine and files with the IRS under EIN 10318866.
How many years of IRS 990 filings does Peabody Memorial Library have?
Peabody Memorial Library has 11 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 $56K in total revenue.
Is Peabody Memorial Library financially stable?
Yes, the library is financially stable, consistently reporting zero liabilities and growing assets from $218,922 in 201212 to $617,501 in 202312, with revenues generally exceeding expenses in recent years.
How efficiently does Peabody Memorial Library use its funds?
The library appears highly efficient, as evidenced by 0% officer compensation reported across all filings, suggesting that a significant portion of its expenses directly supports its operations rather than executive salaries.
What is the trend in the library's assets?
The library's assets have shown a strong upward trend, increasing from $218,922 in 201212 to $617,501 in 202312, indicating sound financial management and growth.
Filing History
IRS 990 filing history for Peabody Memorial Library showing financial trends over 11 years of public records:
Over 11 years of IRS 990 filings (2011–2023), Peabody Memorial Library's revenue has grown by 63.8%, moving from $47K to $77K. Total assets increased by 196% over the same period, from $209K to $618K. Total functional expenses rose by 44.1%, from $39K to $56K. In its most recent filing year (2023), Peabody Memorial Library reported a surplus of $21K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $77K | $56K | $618K | $0 | — | — |
| 2022 | $53K | $47K | $700K | $0 | — | View 990 |
| 2021 | $43K | $50K | $694K | $0 | — | View 990 |
| 2020 | $40K | $48K | $679K | $0 | — | View 990 |
| 2019 | $40K | $49K | $615K | $0 | — | View 990 |
| 2018 | $58K | $50K | $564K | $0 | — | View 990 |
| 2017 | $43K | $39K | $557K | $0 | — | View 990 |
| 2016 | $46K | $42K | $505K | $0 | — | View 990 |
| 2015 | $342K | $42K | $514K | $0 | — | View 990 |
| 2012 | $57K | $46K | $219K | $0 | — | View 990 |
| 2011 | $47K | $39K | $209K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $77K, expenses of $56K, and assets of $618K (revenue +44.4% year-over-year).
- 2022: Revenue of $53K, expenses of $47K, and assets of $700K (revenue +22.4% year-over-year).
- 2021: Revenue of $43K, expenses of $50K, and assets of $694K (revenue +8.5% year-over-year).
- 2020: Revenue of $40K, expenses of $48K, and assets of $679K (revenue -0.6% year-over-year).
- 2019: Revenue of $40K, expenses of $49K, and assets of $615K (revenue -30.3% year-over-year).
- 2018: Revenue of $58K, expenses of $50K, and assets of $564K (revenue +35.3% year-over-year).
- 2017: Revenue of $43K, expenses of $39K, and assets of $557K (revenue -6.5% year-over-year).
- 2016: Revenue of $46K, expenses of $42K, and assets of $505K (revenue -86.6% year-over-year).
- 2015: Revenue of $342K, expenses of $42K, and assets of $514K (revenue +501.7% year-over-year).
- 2012: Revenue of $57K, expenses of $46K, and assets of $219K (revenue +21.3% year-over-year).
- 2011: Revenue of $47K, expenses of $39K, and assets of $209K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Peabody Memorial Library:
Data Sources and Methodology
This transparency report for Peabody 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.