Smithtown Library
Smithtown Library maintains consistent operations with growing assets but significant liabilities.
EIN: 116042380 · Nesconset, NY · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $17.2M |
| Total Expenses | $16.9M |
| Program Spending | 80% |
| Net Assets | $-10,467,694 |
| Transparency Score | 75/100 |
Is Smithtown Library Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Smithtown Library directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Smithtown Library
Smithtown Library (EIN: 116042380) is a nonprofit organization based in Nesconset, NY. The organization reported total revenue of $17.2M and total assets of $36.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Smithtown Library's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Smithtown Library is a large nonprofit that has been operating for 48 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 2.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $16.8M |
| Total Expenses | $16.9M |
| Surplus / Deficit | $-70,871 |
| Total Assets | $40.4M |
| Total Liabilities | $50.9M |
| Net Assets | $-10,467,694 |
| Operating Margin | -0.4% |
| Debt-to-Asset Ratio | 125.9% |
| Months of Reserves | 28.7 months |
Financial Health Grade: C
In 2023, Smithtown Library reported a deficit of $71K with expenses exceeding revenue, holds 28.7 months of operating reserves (strong position), has a debt-to-asset ratio of 125.9% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Smithtown Library's revenue has grown at a compound annual growth rate (CAGR) of 2.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +5.7% | +14.0% | -3.0% |
| 2022 | +1.8% | +0.7% | +6.9% |
| 2021 | +0.9% | -9.1% | -0.1% |
| 2020 | +1.7% | +8.0% | +9.0% |
| 2019 | +2.5% | +31.8% | +11.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1978 |
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 Smithtown Library with a Mission Score of 75 out of 100 (Good). 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: 80%
- fundraising: 5%
According to IRS 990 filings, Smithtown Library allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% 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 deficit of $71K, with expenses exceeding revenue.
- Debt-to-asset ratio: 125.9%.
Executive Compensation Analysis
The Smithtown Library consistently reports 0% officer compensation across all available filings, suggesting either a volunteer executive leadership or that executive salaries are categorized differently within their financial statements, which warrants further investigation for full transparency.
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 Smithtown Library's IRS 990 filings:
- Consistently high liabilities exceeding assets (e.g., $50,901,458 liabilities vs. $40,433,764 assets in 2023), indicating potential long-term financial obligations or debt.
- Lack of detailed functional expense breakdown (program, admin, fundraising) in the provided data, making it difficult to assess spending efficiency.
Strengths
The following positive indicators were identified for Smithtown Library:
- Consistent revenue generation and operational stability over a decade, with revenues generally covering expenses.
- Steady growth in assets over the past decade, from $28,190,164 in 2014 to $40,433,764 in 2023.
- Consistent reporting of 0% officer compensation, which could indicate efficient use of funds or volunteer leadership.
Frequently Asked Questions about Smithtown Library
Is Smithtown Library a legitimate charity?
Based on AI analysis of IRS 990 filings, Smithtown Library (EIN: 116042380) some concerns. Mission Score: 75/100. 2 red flags identified, 3 strengths noted.
How does Smithtown Library spend its money?
Smithtown Library directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Smithtown Library tax-deductible?
Smithtown Library is registered as a tax-exempt nonprofit (EIN: 116042380). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Smithtown Library's spending goes to programs?
Smithtown Library directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Smithtown Library located?
Smithtown Library is headquartered in Nesconset, New York and files with the IRS under EIN 116042380.
How many years of IRS 990 filings does Smithtown Library have?
Smithtown 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 $17.2M in total revenue.
What is the nature of Smithtown Library's significant liabilities, which consistently exceed its assets?
The filings show liabilities consistently higher than assets (e.g., $50,901,458 liabilities vs. $40,433,764 assets in 2023). Understanding the composition of these liabilities (e.g., bonds, mortgages, pension obligations) is crucial for a complete financial picture.
How does Smithtown Library allocate its expenses between program services, administration, and fundraising?
Without a detailed functional expense breakdown from the 990, it's difficult to assess spending efficiency. A typical library would have high program spending, but specific percentages are needed.
Are there any executive compensation details available outside of the 'Officer Comp' field, given the consistent 0% reported?
The consistent 0% reported for officer compensation across all filings is unusual for an organization of this size and suggests that executive salaries might be reported under other expense categories or that the leadership is entirely volunteer-based, which would be a significant positive.
Filing History
IRS 990 filing history for Smithtown Library showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Smithtown Library's revenue has grown by 30.4%, moving from $12.9M to $16.8M. Total assets increased by 21.4% over the same period, from $33.3M to $40.4M. Total functional expenses rose by 44.5%, from $11.7M to $16.9M. In its most recent filing year (2023), Smithtown Library reported a deficit of $71K, with expenses exceeding revenue. The organization holds $50.9M in liabilities against $40.4M in assets (debt-to-asset ratio: 125.9%), resulting in net assets of $-10,467,694.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $16.8M | $16.9M | $40.4M | $50.9M | — | — |
| 2022 | $15.9M | $14.8M | $41.7M | $53.3M | — | View 990 |
| 2021 | $15.6M | $14.7M | $39.0M | $51.8M | — | View 990 |
| 2020 | $15.5M | $16.2M | $39.0M | $52.7M | — | View 990 |
| 2019 | $15.2M | $15.0M | $35.8M | $48.8M | — | View 990 |
| 2018 | $14.9M | $11.4M | $32.1M | $45.3M | — | View 990 |
| 2017 | $14.4M | $14.1M | $31.4M | $26.2M | — | View 990 |
| 2016 | $14.0M | $14.0M | $32.9M | $28.1M | — | View 990 |
| 2015 | $13.6M | $13.9M | $28.3M | $23.7M | — | View 990 |
| 2014 | $13.4M | $14.7M | $28.2M | $23.4M | — | View 990 |
| 2013 | $13.1M | $14.4M | $29.4M | $23.3M | — | View 990 |
| 2012 | $13.2M | $12.5M | $32.7M | $23.6M | — | View 990 |
| 2011 | $12.9M | $11.7M | $33.3M | $24.9M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $16.8M, expenses of $16.9M, and assets of $40.4M (revenue +5.7% year-over-year).
- 2022: Revenue of $15.9M, expenses of $14.8M, and assets of $41.7M (revenue +1.8% year-over-year).
- 2021: Revenue of $15.6M, expenses of $14.7M, and assets of $39.0M (revenue +0.9% year-over-year).
- 2020: Revenue of $15.5M, expenses of $16.2M, and assets of $39.0M (revenue +1.7% year-over-year).
- 2019: Revenue of $15.2M, expenses of $15.0M, and assets of $35.8M (revenue +2.5% year-over-year).
- 2018: Revenue of $14.9M, expenses of $11.4M, and assets of $32.1M (revenue +3.0% year-over-year).
- 2017: Revenue of $14.4M, expenses of $14.1M, and assets of $31.4M (revenue +3.3% year-over-year).
- 2016: Revenue of $14.0M, expenses of $14.0M, and assets of $32.9M (revenue +2.7% year-over-year).
- 2015: Revenue of $13.6M, expenses of $13.9M, and assets of $28.3M (revenue +1.8% year-over-year).
- 2014: Revenue of $13.4M, expenses of $14.7M, and assets of $28.2M (revenue +1.7% year-over-year).
- 2013: Revenue of $13.1M, expenses of $14.4M, and assets of $29.4M (revenue -0.1% year-over-year).
- 2012: Revenue of $13.2M, expenses of $12.5M, and assets of $32.7M (revenue +2.0% year-over-year).
- 2011: Revenue of $12.9M, expenses of $11.7M, and assets of $33.3M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Smithtown Library:
Data Sources and Methodology
This transparency report for Smithtown 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.