Simpson Memorial Library
Simpson Memorial Library consistently operates with zero liabilities and no officer compensation, growing assets significantly.
EIN: 10436781 · Carmel, ME · NTEE: B70 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $69K |
| Total Expenses | $37K |
| Program Spending | 90% |
| Net Assets | $313K |
| Transparency Score | 92/100 |
Is Simpson Memorial Library Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Simpson Memorial Library directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Simpson Memorial Library
Simpson Memorial Library (EIN: 10436781) is a nonprofit organization based in Carmel, ME, classified under NTEE code B70. The organization reported total revenue of $69K and total assets of $718K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Simpson Memorial Library's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Simpson Memorial Library is a micro nonprofit that has been operating for 17 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 4.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $80K |
| Total Expenses | $37K |
| Surplus / Deficit | +$42K |
| Total Assets | $313K |
| Net Assets | $313K |
| Operating Margin | 53.1% |
| Months of Reserves | 100.6 months |
Financial Health Grade: A
In 2023, Simpson Memorial Library reported a surplus of $42K with revenue exceeding expenses, holds 100.6 months of operating reserves (strong position).
Financial Trends
Over 13 years of filings (2011–2023), Simpson Memorial Library's revenue has grown at a compound annual growth rate (CAGR) of 4.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +48.8% | -49.4% | +15.6% |
| 2022 | -39.7% | +100.4% | -7.0% |
| 2021 | +38.1% | +9.0% | +21.7% |
| 2020 | +9.0% | -11.5% | +14.6% |
| 2019 | +21.6% | -12.5% | +11.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 2009 |
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 Simpson Memorial 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: 10%
- programs: 90%
- fundraising: 0%
According to IRS 990 filings, Simpson Memorial Library allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. 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 $42K, with revenue exceeding expenses.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers or key employees receive salaries, which is highly unusual for an organization of its size and suggests a volunteer-led operational model.
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 Simpson Memorial Library's IRS 990 filings:
- Unusually low expenses relative to assets, especially in the latest period, could indicate underinvestment in programs or a large endowment not fully utilized.
- The sudden, large increase in assets to $718,036 without a corresponding spike in revenue in the latest available filing (2023 revenue $79,627) suggests a significant non-operating income event or revaluation that isn't immediately clear from the provided data.
Strengths
The following positive indicators were identified for Simpson Memorial Library:
- Consistent zero liabilities, indicating excellent financial stability and no debt.
- Zero officer compensation, demonstrating a strong commitment to volunteerism and directing funds to mission.
- Strong program spending efficiency, with minimal administrative and fundraising costs.
- Consistent asset growth over time, indicating effective financial management and sustainability.
- High transparency due to consistent and clear financial reporting with no complex financial structures.
Frequently Asked Questions about Simpson Memorial Library
Is Simpson Memorial Library a legitimate charity?
Based on AI analysis of IRS 990 filings, Simpson Memorial Library (EIN: 10436781) some concerns. Mission Score: 92/100. 2 red flags identified, 5 strengths noted.
How does Simpson Memorial Library spend its money?
Simpson Memorial Library directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Simpson Memorial Library tax-deductible?
Simpson Memorial Library is registered as a tax-exempt nonprofit (EIN: 10436781). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Simpson Memorial Library compare to similar nonprofits?
With a transparency score of 92/100 (Excellent), Simpson Memorial Library is above average for NTEE category B70 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Simpson Memorial Library located?
Simpson Memorial Library is headquartered in Carmel, Maine and files with the IRS under EIN 10436781. It is classified under NTEE code B70.
How many years of IRS 990 filings does Simpson Memorial Library have?
Simpson Memorial Library 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 $69K in total revenue.
How does Simpson Memorial Library manage to operate with 0% officer compensation?
The consistent reporting of 0% officer compensation across all filings suggests that the organization is primarily run by volunteers, or that any paid staff are not classified as officers or key employees, which is a highly efficient model for a small library.
What caused the significant increase in assets to $718,036 in the latest period?
While the filings show a steady increase in assets, the jump to $718,036 from $312,970 in 2023 is substantial. This could be due to a major capital campaign, a large bequest, or significant investment gains, which would warrant further investigation into the specific financial statements for that period.
Given the low expenses relative to revenue in many years, how does the library utilize its surplus funds?
The library consistently generates surpluses, such as in 2023 ($79,627 revenue vs. $37,340 expenses). These surpluses appear to be reinvested into the organization, contributing to the significant growth in assets over time, rather than being spent on administrative overhead or fundraising.
Filing History
IRS 990 filing history for Simpson Memorial Library showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Simpson Memorial Library's revenue has grown by 66.5%, moving from $48K to $80K. Total assets increased by 142.9% over the same period, from $129K to $313K. Total functional expenses rose by 41.7%, from $26K to $37K. In its most recent filing year (2023), Simpson Memorial Library reported a surplus of $42K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $80K | $37K | $313K | $0 | — | — |
| 2022 | $54K | $74K | $271K | $0 | — | View 990 |
| 2021 | $89K | $37K | $291K | $0 | — | View 990 |
| 2020 | $64K | $34K | $239K | $0 | — | — |
| 2019 | $59K | $38K | $209K | $0 | — | View 990 |
| 2018 | $49K | $44K | $188K | $0 | — | View 990 |
| 2017 | $48K | $29K | $183K | $0 | — | View 990 |
| 2016 | $49K | $26K | $206K | $0 | — | View 990 |
| 2015 | $126K | $29K | $541K | $0 | — | View 990 |
| 2014 | $361K | $25K | $442K | $0 | — | View 990 |
| 2013 | $58K | $36K | $158K | $0 | — | View 990 |
| 2012 | $40K | $33K | $136K | $0 | — | View 990 |
| 2011 | $48K | $26K | $129K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $80K, expenses of $37K, and assets of $313K (revenue +48.8% year-over-year).
- 2022: Revenue of $54K, expenses of $74K, and assets of $271K (revenue -39.7% year-over-year).
- 2021: Revenue of $89K, expenses of $37K, and assets of $291K (revenue +38.1% year-over-year).
- 2020: Revenue of $64K, expenses of $34K, and assets of $239K (revenue +9.0% year-over-year).
- 2019: Revenue of $59K, expenses of $38K, and assets of $209K (revenue +21.6% year-over-year).
- 2018: Revenue of $49K, expenses of $44K, and assets of $188K (revenue +0.8% year-over-year).
- 2017: Revenue of $48K, expenses of $29K, and assets of $183K (revenue -1.4% year-over-year).
- 2016: Revenue of $49K, expenses of $26K, and assets of $206K (revenue -61.4% year-over-year).
- 2015: Revenue of $126K, expenses of $29K, and assets of $541K (revenue -65.0% year-over-year).
- 2014: Revenue of $361K, expenses of $25K, and assets of $442K (revenue +518.4% year-over-year).
- 2013: Revenue of $58K, expenses of $36K, and assets of $158K (revenue +44.9% year-over-year).
- 2012: Revenue of $40K, expenses of $33K, and assets of $136K (revenue -15.7% year-over-year).
- 2011: Revenue of $48K, expenses of $26K, and assets of $129K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Simpson Memorial Library:
Data Sources and Methodology
This transparency report for Simpson 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.