Sanford Library Association
Sanford Library Association shows strong revenue growth and asset accumulation with zero officer compensation.
EIN: 10216657 · Sanford, ME · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.3M |
| Total Expenses | $607K |
| Program Spending | 90% |
| CEO/Top Officer Pay | $1 |
| Net Assets | $2.8M |
| Transparency Score | 95/100 |
Is Sanford Library Association Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Sanford Library Association directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Sanford Library Association
Sanford Library Association (EIN: 10216657) is a nonprofit organization based in Sanford, ME. The organization reported total revenue of $1.3M and total assets of $2.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Sanford Library Association's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Sanford Library Association is a mid-size nonprofit that has been operating for 39 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 6.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.1M |
| Total Expenses | $607K |
| Surplus / Deficit | +$450K |
| Total Assets | $2.8M |
| Total Liabilities | $19K |
| Net Assets | $2.8M |
| Operating Margin | 42.6% |
| Debt-to-Asset Ratio | 0.7% |
| Months of Reserves | 55.7 months |
Financial Health Grade: A
In 2023, Sanford Library Association reported a surplus of $450K with revenue exceeding expenses, holds 55.7 months of operating reserves (strong position), has a debt-to-asset ratio of 0.7% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Sanford Library Association's revenue has grown at a compound annual growth rate (CAGR) of 6.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +6.0% | +2.3% | +19.0% |
| 2022 | +64.6% | +8.0% | +20.9% |
| 2021 | +14.5% | -0.2% | -0.2% |
| 2020 | -0.9% | +3.1% | +2.2% |
| 2019 | -0.9% | -3.2% | -0.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 1987 |
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 Sanford Library Association 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: 7%
- programs: 90%
- fundraising: 3%
According to IRS 990 filings, Sanford Library Association allocates its expenses as follows: admin: 7%, programs: 90%, fundraising: 3%. 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 $450K, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.7%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers receive compensation from the organization, which is highly commendable for an organization with over $1 million in annual revenue and nearly $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.
Strengths
The following positive indicators were identified for Sanford Library Association:
- Consistent revenue growth, more than doubling from $533,618 in 2019 to $1,056,938 in 2023.
- Strong asset accumulation, increasing from $1,921,645 in 2019 to $2,816,848 in 2023.
- Zero officer compensation reported across all filings, indicating high dedication of funds to mission.
- Expenses consistently lower than revenue in recent years, demonstrating efficient financial management.
- Low liabilities relative to assets, indicating strong financial stability.
Frequently Asked Questions about Sanford Library Association
Is Sanford Library Association a legitimate charity?
Based on AI analysis of IRS 990 filings, Sanford Library Association (EIN: 10216657) appears legitimate. Mission Score: 95/100. 0 red flags identified, 5 strengths noted.
How does Sanford Library Association spend its money?
Sanford Library Association directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Sanford Library Association tax-deductible?
Sanford Library Association is registered as a tax-exempt nonprofit (EIN: 10216657). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Sanford Library Association CEO make?
Sanford Library Association's highest-compensated officer earns $1 annually. The organization reported $1.3M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Sanford Library Association's spending goes to programs?
Sanford Library Association directs 90% to programs, 3% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Sanford Library Association located?
Sanford Library Association is headquartered in Sanford, Maine and files with the IRS under EIN 10216657.
How many years of IRS 990 filings does Sanford Library Association have?
Sanford Library Association has 13 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 $1.3M in total revenue.
Is Sanford Library Association a good charity?
Based on the available financial data, the Sanford Library Association appears to be a very good charity. It demonstrates strong financial health with growing revenues and assets, efficient spending (expenses are consistently lower than revenue in recent years), and a notable commitment to its mission by reporting 0% officer compensation.
How has the organization's revenue changed over time?
The organization has experienced significant revenue growth, more than doubling from $533,618 in 2019 to $1,056,938 in 2023, indicating increasing support and financial capacity.
What is the trend in the organization's assets?
Assets have shown a consistent upward trend, increasing from $1,921,645 in 2019 to $2,816,848 in 2023, reflecting strong financial management and accumulation of resources.
Filing History
IRS 990 filing history for Sanford Library Association showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Sanford Library Association's revenue has grown by 109.4%, moving from $505K to $1.1M. Total assets increased by 36.7% over the same period, from $2.1M to $2.8M. Total functional expenses rose by 29.5%, from $469K to $607K. In its most recent filing year (2023), Sanford Library Association reported a surplus of $450K, with revenue exceeding expenses. The organization holds $19K in liabilities against $2.8M in assets (debt-to-asset ratio: 0.7%), resulting in net assets of $2.8M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.1M | $607K | $2.8M | $19K | — | View 990 |
| 2022 | $997K | $593K | $2.4M | $20K | — | View 990 |
| 2021 | $606K | $549K | $2.0M | $15K | — | View 990 |
| 2020 | $529K | $550K | $2.0M | $76K | — | View 990 |
| 2019 | $534K | $534K | $1.9M | $12K | — | View 990 |
| 2018 | $539K | $551K | $1.9M | $19K | — | — |
| 2017 | $504K | $557K | $1.9M | $12K | — | View 990 |
| 2016 | $505K | $525K | $2.0M | $12K | — | View 990 |
| 2015 | $533K | $542K | $2.0M | $3K | — | View 990 |
| 2014 | $491K | $517K | $2.0M | $8K | — | View 990 |
| 2013 | $480K | $488K | $2.0M | $11K | — | View 990 |
| 2012 | $573K | $462K | $2.0M | $1K | — | View 990 |
| 2011 | $505K | $469K | $2.1M | $133K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.1M, expenses of $607K, and assets of $2.8M (revenue +6.0% year-over-year).
- 2022: Revenue of $997K, expenses of $593K, and assets of $2.4M (revenue +64.6% year-over-year).
- 2021: Revenue of $606K, expenses of $549K, and assets of $2.0M (revenue +14.5% year-over-year).
- 2020: Revenue of $529K, expenses of $550K, and assets of $2.0M (revenue -0.9% year-over-year).
- 2019: Revenue of $534K, expenses of $534K, and assets of $1.9M (revenue -0.9% year-over-year).
- 2018: Revenue of $539K, expenses of $551K, and assets of $1.9M (revenue +6.9% year-over-year).
- 2017: Revenue of $504K, expenses of $557K, and assets of $1.9M (revenue -0.1% year-over-year).
- 2016: Revenue of $505K, expenses of $525K, and assets of $2.0M (revenue -5.3% year-over-year).
- 2015: Revenue of $533K, expenses of $542K, and assets of $2.0M (revenue +8.6% year-over-year).
- 2014: Revenue of $491K, expenses of $517K, and assets of $2.0M (revenue +2.3% year-over-year).
- 2013: Revenue of $480K, expenses of $488K, and assets of $2.0M (revenue -16.2% year-over-year).
- 2012: Revenue of $573K, expenses of $462K, and assets of $2.0M (revenue +13.5% year-over-year).
- 2011: Revenue of $505K, expenses of $469K, and assets of $2.1M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Sanford Library Association:
Data Sources and Methodology
This transparency report for Sanford Library Association 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.