Richards Free Library

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Richards Free Library Form 990, Revenue, CEO Pay, and IRS Filing Signals

Richards Free Library is surfaced here as a decision-ready nonprofit financial profile, not just a charity listing. The page consolidates IRS Form 990 revenue, expenses, assets, tax-exempt classification, executive compensation, mission score, red flags, and year-by-year filing history so donors, researchers, journalists, and grant teams can answer the common search questions around Richards Free Library in one place.

Is Richards Free Library Legit?

Some Concerns

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

IRS 990 Data Cockpit

Where the Money Comes From and Where It Goes

Across stored filings, Richards Free Library shows contribution history pending. Next enrichment targets: revenue-source fields, IRS BMF classification.

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Richards Free Library directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.

About Richards Free Library

Richards Free Library (EIN: 20224075) is a nonprofit organization based in Newport, NH, classified under NTEE code B71Z. The organization reported total revenue of $874K and total assets of $3.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Richards Free Library's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

Organization Overview

Richards Free Library is a small nonprofit that has been operating for 75 years, with 14 years of IRS 990 filings on record (2010–2023). Revenue has grown at a compound annual rate of 5.2%.

Key Financial Metrics (2023)

From the most recent IRS 990 filing on record:

Financial Health Grade: A

In 2023, Richards Free Library reported a surplus of $175K with revenue exceeding expenses, holds 48.8 months of operating reserves (strong position).

Financial Trends

Over 14 years of filings (2010–2023), Richards Free Library's revenue has grown at a compound annual growth rate (CAGR) of 5.2%.

IRS Tax-Exempt Classification

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 Richards 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: 15%
• programs: 85%
• fundraising: 0%

According to IRS 990 filings, Richards Free Library allocates its expenses as follows: admin: 15%, programs: 85%, fundraising: 0%. 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 $175K, with revenue exceeding expenses.

Executive Compensation Analysis

Richards Free Library reports 0% officer compensation across all available IRS 990 filings, indicating that no salaries are paid to officers, which is highly unusual for an organization of its size with nearly $1 million in annual revenue and $3 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.

Red Flags

The following concerns were identified during AI analysis of Richards Free Library's IRS 990 filings:

• Unusually low (0%) reported officer compensation for an organization of this size, which might suggest compensation is categorized differently or handled by a separate entity, warranting further inquiry.

Strengths

The following positive indicators were identified for Richards Free Library:

• Strong financial health with consistent revenue growth and asset accumulation (assets grew from $2.26M in 2014 to $2.98M in 2023).
• Consistent operational surpluses (e.g., $907,654 revenue vs. $732,955 expenses in 202312).
• No reported liabilities in recent filings, indicating excellent financial management.
• Remarkable commitment to mission with 0% reported officer compensation.
• High transparency with 14 consistent IRS 990 filings.

Frequently Asked Questions about Richards Free Library

Filing History

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

Over 14 years of IRS 990 filings (2010–2023), Richards Free Library's revenue has grown by 94.1%, moving from $468K to $908K. Total assets increased by 45.7% over the same period, from $2.0M to $3.0M. Total functional expenses rose by 63.9%, from $447K to $733K. In its most recent filing year (2023), Richards Free Library reported a surplus of $175K, with revenue exceeding expenses.

Year-by-Year Financial Summary

• 2023: Revenue of $908K, expenses of $733K, and assets of $3.0M (revenue +32.3% year-over-year).
• 2022: Revenue of $686K, expenses of $697K, and assets of $2.8M (revenue -11.1% year-over-year).
• 2021: Revenue of $772K, expenses of $564K, and assets of $2.8M (revenue +23.1% year-over-year).
• 2020: Revenue of $627K, expenses of $531K, and assets of $2.6M (revenue +1.3% year-over-year).
• 2019: Revenue of $619K, expenses of $615K, and assets of $2.5M (revenue +7.9% year-over-year).
• 2018: Revenue of $573K, expenses of $662K, and assets of $2.4M (revenue -0.1% year-over-year).
• 2017: Revenue of $574K, expenses of $588K, and assets of $2.5M (revenue -15.0% year-over-year).
• 2016: Revenue of $675K, expenses of $566K, and assets of $2.5M (revenue -3.5% year-over-year).
• 2015: Revenue of $700K, expenses of $552K, and assets of $2.4M (revenue +27.7% year-over-year).
• 2014: Revenue of $548K, expenses of $495K, and assets of $2.3M (revenue -32.4% year-over-year).
• 2013: Revenue of $811K, expenses of $459K, and assets of $2.5M (revenue +68.5% year-over-year).
• 2012: Revenue of $481K, expenses of $478K, and assets of $2.1M (revenue +3.9% year-over-year).
• 2011: Revenue of $463K, expenses of $459K, and assets of $2.0M (revenue -1.0% year-over-year).
• 2010: Revenue of $468K, expenses of $447K, and assets of $2.0M.

View Individual Filing Years

Explore detailed financial data from each IRS 990 filing year for Richards Free Library:

Data Sources and Methodology

This transparency report for Richards 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.