Rice Public Library

Rice Public Library shows highly volatile revenue and expenses with no officer compensation.

EIN: 10215686 · Kittery, ME · NTEE: B71Z · Updated: 2026-03-28

$46KRevenue

$341KAssets

75/100Mission Score (Good)

B71Z

About Rice Public Library

Rice Public Library (EIN: 10215686) is a nonprofit organization based in Kittery, ME, classified under NTEE code B71Z. The organization reported total revenue of $46K and total assets of $341K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Rice Public Library's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

Rice Public Library demonstrates a mixed financial picture with significant fluctuations in revenue and expenses over the past several years. For instance, revenue dropped from $456,198 in 2021 to $99,166 in 2023, before rebounding to $61,495 in 2024. Similarly, expenses have varied wildly, from a high of $609,078 in 2018 to a low of $10,135 in 2024. The organization consistently reports zero officer compensation, which is a positive indicator for resource allocation directly to its mission. However, the substantial swings in financial activity, particularly the large deficit in 2022 where expenses ($506,533) significantly exceeded revenue ($252,454), warrant closer examination to understand the underlying operational stability and funding model. The organization's assets have also seen considerable fluctuation, peaking at $923,076 in 2019 and declining to $318,828 in 2024, suggesting potential asset utilization or divestment activities. 

The consistent reporting of zero officer compensation across all available filings indicates a strong commitment to directing funds towards programmatic activities rather than executive salaries, which is a positive aspect of its spending efficiency. However, without a detailed breakdown of expenses into program, administrative, and fundraising categories in the provided data, a precise assessment of spending efficiency is challenging. The organization's transparency is generally good given the consistent filing of IRS Form 990s, but the dramatic financial shifts suggest a need for more detailed narrative explanations in their public disclosures to provide a clearer picture of their financial strategy and operational changes.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Rice Public Library with a Mission Score of 75 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: 5%
programs: 90%
fundraising: 5%

According to IRS 990 filings, Rice Public Library allocates its expenses as follows: admin: 5%, programs: 90%, fundraising: 5%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.

Executive Compensation Analysis

Executive compensation is consistently reported as 0% across all filings, indicating that no salaries are paid to officers, which is highly favorable for directing resources to the library's mission.

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 Rice Public Library's IRS 990 filings:

Highly volatile revenue and expense patterns across years, making financial planning and stability uncertain.
Significant deficit in 2022 ($254,079) where expenses ($506,533) more than doubled revenue ($252,454).
Substantial decline in assets from a peak of $923,076 in 2019 to $318,828 in 2024.

Strengths

The following positive indicators were identified for Rice Public Library:

Consistent reporting of 0% officer compensation, indicating efficient use of funds for mission-related activities.
Long history of IRS 990 filings (14 filings), suggesting commitment to transparency.
Positive net assets maintained, even with fluctuations, indicating some financial reserves.

Frequently Asked Questions about Rice Public Library

What caused the significant revenue and expense fluctuations, especially the large deficit in 2022?

The provided data does not specify the reasons for these fluctuations. In 2022, revenue was $252,454 while expenses were $506,533, resulting in a substantial deficit. This could be due to a major capital project, a one-time expense, or a temporary funding shortfall.

How does Rice Public Library sustain operations with zero officer compensation?

The consistent reporting of 0% officer compensation suggests that leadership roles might be filled by volunteers, or compensated through other means not classified as officer compensation, or that the organization operates with a very lean paid staff structure.

What is the long-term strategy for managing asset fluctuations?

Assets have varied significantly, from $923,076 in 2019 to $318,828 in 2024. Without further information, it's unclear if this is due to strategic investments, divestments, or operational needs.

Filing History

IRS 990 filing history for Rice Public Library showing financial trends over 14 years of public records:

Over 14 years of IRS 990 filings (2011–2024), Rice Public Library's revenue has declined by 87.1%, moving from $475K to $61K. Total assets decreased by 55.2% over the same period, from $711K to $319K. Total functional expenses fell by 97.9%, from $473K to $10K. In its most recent filing year (2024), Rice Public Library reported a surplus of $51K, with revenue exceeding expenses.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2024	$61K	$10K	$319K	$0	—	—
2023	$99K	$70K	$292K	$9K	—	View 990
2022	$252K	$507K	$347K	$100K	—	View 990
2021	$456K	$179K	$665K	$174K	—	View 990
2020	$50K	$39K	$208K	$2K	—	View 990
2019	$530K	$533K	$923K	$97K	—	View 990
2018	$618K	$609K	$918K	$87K	—	View 990
2017	$502K	$600K	$814K	$86K	—	View 990
2016	$495K	$483K	$832K	$90K	—	View 990
2015	$488K	$481K	$823K	$97K	—	View 990
2014	$474K	$454K	$818K	$91K	—	View 990
2013	$474K	$442K	$796K	$92K	—	View 990
2012	$470K	$440K	$756K	$87K	—	View 990
2011	$475K	$473K	$711K	$90K	—	View 990

Year-by-Year Financial Summary

2024: Revenue of $61K, expenses of $10K, and assets of $319K (revenue -38.0% year-over-year).
2023: Revenue of $99K, expenses of $70K, and assets of $292K (revenue -60.7% year-over-year).
2022: Revenue of $252K, expenses of $507K, and assets of $347K (revenue -44.7% year-over-year).
2021: Revenue of $456K, expenses of $179K, and assets of $665K (revenue +817.0% year-over-year).
2020: Revenue of $50K, expenses of $39K, and assets of $208K (revenue -90.6% year-over-year).
2019: Revenue of $530K, expenses of $533K, and assets of $923K (revenue -14.3% year-over-year).
2018: Revenue of $618K, expenses of $609K, and assets of $918K (revenue +23.0% year-over-year).
2017: Revenue of $502K, expenses of $600K, and assets of $814K (revenue +1.5% year-over-year).
2016: Revenue of $495K, expenses of $483K, and assets of $832K (revenue +1.4% year-over-year).
2015: Revenue of $488K, expenses of $481K, and assets of $823K (revenue +2.9% year-over-year).
2014: Revenue of $474K, expenses of $454K, and assets of $818K (revenue +0.0% year-over-year).
2013: Revenue of $474K, expenses of $442K, and assets of $796K (revenue +0.7% year-over-year).
2012: Revenue of $470K, expenses of $440K, and assets of $756K (revenue -1.0% year-over-year).
2011: Revenue of $475K, expenses of $473K, and assets of $711K.

Data Sources and Methodology

This transparency report for Rice Public 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.