Skidompha Library Assoc
Skidompha Library Assoc maintains strong asset growth and zero executive compensation, demonstrating sound financial stewardship.
EIN: 10228297 · Damariscotta, ME · NTEE: B71Z · Updated: 2026-03-28
Is Skidompha Library Assoc Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Skidompha Library Assoc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Skidompha Library Assoc
Skidompha Library Assoc (EIN: 10228297) is a nonprofit organization based in Damariscotta, ME, classified under NTEE code B71Z. The organization reported total revenue of $2.0M and total assets of $5.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Skidompha Library Assoc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Skidompha Library Assoc 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, Skidompha Library Assoc 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.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers receive salaries, which is highly commendable for an organization with over $5 million in assets and annual revenues exceeding $800,000.
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 Skidompha Library Assoc:
- Zero executive compensation reported across all filings, indicating high efficiency in directing funds to mission.
- Consistent asset growth from $3.5M in 2015 to over $5M currently, demonstrating strong financial health.
- Generally positive operating margins, with revenues often exceeding expenses (e.g., $841,311 revenue vs. $788,950 expenses in 202406).
- Low liabilities relative to assets, suggesting sound financial management and low risk.
- Consistent IRS 990 filing history, indicating strong transparency and compliance.
Frequently Asked Questions about Skidompha Library Assoc
Is Skidompha Library Assoc a legitimate charity?
Based on AI analysis of IRS 990 filings, Skidompha Library Assoc (EIN: 10228297) appears legitimate. Mission Score: 95/100. 0 red flags identified, 5 strengths noted.
How does Skidompha Library Assoc spend its money?
Skidompha Library Assoc directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Skidompha Library Assoc tax-deductible?
Skidompha Library Assoc is registered as a tax-exempt nonprofit (EIN: 10228297). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Skidompha Library Assoc a good charity?
Yes, Skidompha Library Assoc appears to be a very good charity. It demonstrates strong financial health with growing assets, responsible expense management, and a highly transparent approach, particularly with its zero executive compensation.
How does Skidompha Library Assoc manage its expenses?
The organization generally manages its expenses effectively, with revenues often exceeding or closely matching expenditures. For example, in 202406, revenue was $841,311 against expenses of $788,950, indicating a surplus. Even in periods of deficit, like 202306, the overall asset base remains strong.
What is the trend in Skidompha Library Assoc's assets?
Skidompha Library Assoc has shown consistent asset growth over the past decade, increasing from $3,540,330 in 201506 to $5,091,750 in the latest period, indicating strong financial accumulation and stability.
Filing History
IRS 990 filing history for Skidompha Library Assoc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2012–2024), Skidompha Library Assoc's revenue has grown by 9.1%, moving from $771K to $841K. Total assets increased by 27% over the same period, from $3.7M to $4.7M. Total functional expenses rose by 79.1%, from $441K to $789K. In its most recent filing year (2024), Skidompha Library Assoc reported a surplus of $52K, with revenue exceeding expenses. The organization holds $172K in liabilities against $4.7M in assets (debt-to-asset ratio: 3.7%), resulting in net assets of $4.5M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2024 | $841K | $789K | $4.7M | $172K | — | View 990 |
| 2023 | $729K | $763K | $4.6M | $170K | — | View 990 |
| 2022 | $652K | $684K | $4.6M | $184K | — | View 990 |
| 2021 | $1.1M | $562K | $5.0M | $272K | — | View 990 |
| 2020 | $809K | $749K | $4.4M | $277K | — | View 990 |
| 2019 | $783K | $723K | $4.3M | $250K | — | View 990 |
| 2018 | $615K | $637K | $4.3M | $261K | — | View 990 |
| 2017 | $699K | $635K | $4.3M | $255K | — | View 990 |
| 2016 | $976K | $560K | $4.0M | $5K | — | View 990 |
| 2015 | $413K | $519K | $3.5M | $8K | — | View 990 |
| 2014 | $500K | $491K | $3.6M | $3K | — | View 990 |
| 2013 | $447K | $476K | $3.6M | $5K | — | View 990 |
| 2012 | $771K | $441K | $3.7M | $2K | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $841K, expenses of $789K, and assets of $4.7M (revenue +15.5% year-over-year).
- 2023: Revenue of $729K, expenses of $763K, and assets of $4.6M (revenue +11.8% year-over-year).
- 2022: Revenue of $652K, expenses of $684K, and assets of $4.6M (revenue -42.4% year-over-year).
- 2021: Revenue of $1.1M, expenses of $562K, and assets of $5.0M (revenue +39.9% year-over-year).
- 2020: Revenue of $809K, expenses of $749K, and assets of $4.4M (revenue +3.2% year-over-year).
- 2019: Revenue of $783K, expenses of $723K, and assets of $4.3M (revenue +27.4% year-over-year).
- 2018: Revenue of $615K, expenses of $637K, and assets of $4.3M (revenue -12.0% year-over-year).
- 2017: Revenue of $699K, expenses of $635K, and assets of $4.3M (revenue -28.4% year-over-year).
- 2016: Revenue of $976K, expenses of $560K, and assets of $4.0M (revenue +136.1% year-over-year).
- 2015: Revenue of $413K, expenses of $519K, and assets of $3.5M (revenue -17.3% year-over-year).
- 2014: Revenue of $500K, expenses of $491K, and assets of $3.6M (revenue +11.9% year-over-year).
- 2013: Revenue of $447K, expenses of $476K, and assets of $3.6M (revenue -42.1% year-over-year).
- 2012: Revenue of $771K, expenses of $441K, and assets of $3.7M.
Data Sources and Methodology
This transparency report for Skidompha Library Assoc 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.