Riverhead Free Library
Riverhead Free Library shows consistent revenue growth and strong asset accumulation with no reported officer compensation.
EIN: 111897225 · Riverhead, NY · NTEE: B71Z · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $5.8M |
| Total Expenses | $4.2M |
| Program Spending | 90% |
| CEO/Top Officer Pay | $5 |
| Net Assets | $2.7M |
| Transparency Score | 92/100 |
Is Riverhead Free Library Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Riverhead Free Library directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Riverhead Free Library
Riverhead Free Library (EIN: 111897225) is a nonprofit organization based in Riverhead, NY, classified under NTEE code B71Z. The organization reported total revenue of $5.8M and total assets of $10.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Riverhead Free Library's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Riverhead Free Library is a mid-size nonprofit that has been operating for 67 years, with 14 years of IRS 990 filings on record (2011–2024). Revenue has grown at a compound annual rate of 2.5%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $4.9M |
| Total Expenses | $4.2M |
| Surplus / Deficit | +$706K |
| Total Assets | $9.9M |
| Total Liabilities | $7.2M |
| Net Assets | $2.7M |
| Operating Margin | 14.4% |
| Debt-to-Asset Ratio | 72.5% |
| Months of Reserves | 28.3 months |
Financial Health Grade: A
In 2024, Riverhead Free Library reported a surplus of $706K with revenue exceeding expenses, holds 28.3 months of operating reserves (strong position), has a debt-to-asset ratio of 72.5% (high leverage).
Financial Trends
Over 14 years of filings (2011–2024), Riverhead Free Library's revenue has grown at a compound annual growth rate (CAGR) of 2.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | +9.8% | -5.6% | +5.9% |
| 2023 | +9.1% | +13.8% | -3.2% |
| 2022 | +0.5% | +0.0% | +16.4% |
| 2021 | +0.8% | -13.5% | +7.7% |
| 2020 | -0.3% | +8.5% | +21.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 3000 |
| IRS Ruling Date | 1959 |
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 Riverhead Free Library with a Mission Score of 92 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: 8%
- programs: 90%
- fundraising: 2%
According to IRS 990 filings, Riverhead Free Library allocates its expenses as follows: admin: 8%, programs: 90%, fundraising: 2%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $706K, with revenue exceeding expenses.
- Debt-to-asset ratio: 72.5%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers received compensation directly from the organization, which is highly unusual for an organization of its size with nearly $5 million in annual revenue and over $9 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 Riverhead Free Library's IRS 990 filings:
- Unusual 0% officer compensation reported for an organization of this size, which may obscure actual executive remuneration if paid by a related entity or through other means.
Strengths
The following positive indicators were identified for Riverhead Free Library:
- Consistent revenue growth, increasing from $3.56 million in 2015 to $4.89 million in 2024.
- Strong asset accumulation, with assets nearly doubling from $4.96 million in 2015 to $9.86 million in 2024.
- Expenses consistently below revenue, demonstrating sound financial management and ability to build reserves.
- High transparency with 14 years of publicly available IRS 990 filings.
- No reported officer compensation, suggesting a high proportion of funds may be directed to programs and operations.
Frequently Asked Questions about Riverhead Free Library
Is Riverhead Free Library a legitimate charity?
Riverhead Free Library (EIN: 111897225) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 92/100. It has 14 years of IRS 990 filings on record. Total revenue: $5.8M. 1 red flag identified. 5 strengths noted. Financial health grade: A.
How does Riverhead Free Library spend its money?
Riverhead Free Library directs 90% of its spending to programs and services. Fundraising costs 2%. This exceeds the 65% industry benchmark.
Are donations to Riverhead Free Library tax-deductible?
Riverhead Free Library is registered as a tax-exempt nonprofit (EIN: 111897225). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Riverhead Free Library CEO make?
Riverhead Free Library's highest-compensated officer earns $5 annually. The organization reported $5.8M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Riverhead Free Library's spending goes to programs?
Riverhead Free Library directs 90% to programs, 2% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Riverhead Free Library compare to similar nonprofits?
With a transparency score of 92/100 (Excellent), Riverhead 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 Riverhead Free Library located?
Riverhead Free Library is headquartered in Riverhead, New York and files with the IRS under EIN 111897225. It is classified under NTEE code B71Z.
How many years of IRS 990 filings does Riverhead Free Library have?
Riverhead Free Library has 14 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 $5.8M in total revenue.
Is Riverhead Free Library a good charity?
Based on the available financial data, Riverhead Free Library appears to be a very good charity. It demonstrates strong financial health, consistent growth, and a high degree of transparency with no reported officer compensation.
How has Riverhead Free Library's financial health changed over time?
Riverhead Free Library's financial health has consistently improved over time. Revenue has grown from $3.56 million in 2015 to $4.89 million in 2024, and assets have nearly doubled from $4.96 million to $9.86 million in the same period, indicating robust growth and asset accumulation.
What is the significance of 0% officer compensation?
The 0% officer compensation reported across all filings is highly significant. It suggests that either the officers are volunteers, or their compensation is covered by another entity, or it is reported under a different expense category. This practice, while potentially indicating high efficiency, warrants further investigation to understand the full compensation structure.
Are the liabilities a concern for Riverhead Free Library?
While liabilities have increased over time, reaching $7.15 million in 2024, the organization's assets have grown at a faster rate, with assets at $9.86 million in 2024. The asset-to-liability ratio remains healthy, indicating that the organization has sufficient resources to cover its obligations.
Filing History
IRS 990 filing history for Riverhead Free Library showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2011–2024), Riverhead Free Library's revenue has grown by 38.5%, moving from $3.5M to $4.9M. Total assets increased by 90.3% over the same period, from $5.2M to $9.9M. Total functional expenses rose by 16.8%, from $3.6M to $4.2M. In its most recent filing year (2024), Riverhead Free Library reported a surplus of $706K, with revenue exceeding expenses. The organization holds $7.2M in liabilities against $9.9M in assets (debt-to-asset ratio: 72.5%), resulting in net assets of $2.7M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $4.9M | $4.2M | $9.9M | $7.2M | — | View 990 |
| 2023 | $4.5M | $4.4M | $9.3M | $7.3M | — | View 990 |
| 2022 | $4.1M | $3.9M | $9.6M | $7.6M | — | View 990 |
| 2021 | $4.1M | $3.9M | $8.3M | $6.5M | — | View 990 |
| 2020 | $4.0M | $4.5M | $7.7M | $6.0M | — | View 990 |
| 2019 | $4.0M | $4.2M | $6.3M | $4.2M | — | View 990 |
| 2018 | $3.8M | $3.8M | $6.1M | $3.9M | — | — |
| 2017 | $3.8M | $3.7M | $5.9M | $2.2M | — | View 990 |
| 2016 | $3.7M | $3.5M | $5.9M | $2.3M | — | View 990 |
| 2015 | $3.6M | $3.5M | $5.0M | $1.5M | — | View 990 |
| 2014 | $3.7M | $3.7M | $4.8M | $1.3M | — | View 990 |
| 2013 | $3.8M | $3.7M | $5.0M | $1.5M | — | View 990 |
| 2012 | $3.7M | $3.6M | $5.1M | $1.7M | — | View 990 |
| 2011 | $3.5M | $3.6M | $5.2M | $1.9M | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $4.9M, expenses of $4.2M, and assets of $9.9M (revenue +9.8% year-over-year).
- 2023: Revenue of $4.5M, expenses of $4.4M, and assets of $9.3M (revenue +9.1% year-over-year).
- 2022: Revenue of $4.1M, expenses of $3.9M, and assets of $9.6M (revenue +0.5% year-over-year).
- 2021: Revenue of $4.1M, expenses of $3.9M, and assets of $8.3M (revenue +0.8% year-over-year).
- 2020: Revenue of $4.0M, expenses of $4.5M, and assets of $7.7M (revenue -0.3% year-over-year).
- 2019: Revenue of $4.0M, expenses of $4.2M, and assets of $6.3M (revenue +5.5% year-over-year).
- 2018: Revenue of $3.8M, expenses of $3.8M, and assets of $6.1M (revenue +1.6% year-over-year).
- 2017: Revenue of $3.8M, expenses of $3.7M, and assets of $5.9M (revenue +3.0% year-over-year).
- 2016: Revenue of $3.7M, expenses of $3.5M, and assets of $5.9M (revenue +2.7% year-over-year).
- 2015: Revenue of $3.6M, expenses of $3.5M, and assets of $5.0M (revenue -4.7% year-over-year).
- 2014: Revenue of $3.7M, expenses of $3.7M, and assets of $4.8M (revenue -0.5% year-over-year).
- 2013: Revenue of $3.8M, expenses of $3.7M, and assets of $5.0M (revenue +0.8% year-over-year).
- 2012: Revenue of $3.7M, expenses of $3.6M, and assets of $5.1M (revenue +5.5% year-over-year).
- 2011: Revenue of $3.5M, expenses of $3.6M, and assets of $5.2M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Riverhead Free Library:
Data Sources and Methodology
This transparency report for Riverhead 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.