Sorrento Public Library
Sorrento Public Library faces consistent deficit spending despite strong program focus and no executive compensation.
EIN: 10497094 · Sorrento, ME · NTEE: B70 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $24K |
| Total Expenses | $49K |
| Program Spending | 90% |
| Net Assets | $259K |
| Transparency Score | 85/100 |
Is Sorrento Public Library Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Sorrento Public Library directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Sorrento Public Library
Sorrento Public Library (EIN: 10497094) is a nonprofit organization based in Sorrento, ME, classified under NTEE code B70. The organization reported total revenue of $24K and total assets of $268K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Sorrento Public Library's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Sorrento Public Library is a micro nonprofit that has been operating for 31 years, with 4 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 2.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $19K |
| Total Expenses | $49K |
| Surplus / Deficit | $-30,619 |
| Total Assets | $259K |
| Net Assets | $259K |
| Operating Margin | -163.3% |
| Months of Reserves | 63.1 months |
Financial Health Grade: B
In 2023, Sorrento Public Library reported a deficit of $31K with expenses exceeding revenue, holds 63.1 months of operating reserves (strong position).
Financial Trends
Over 4 years of filings (2011–2023), Sorrento Public Library's revenue has grown at a compound annual growth rate (CAGR) of 2.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -27.5% | +11.3% | -10.6% |
| 2022 | -62.0% | +250.3% | -6.0% |
| 2021 | +368.2% | +31.4% | -43.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1995 |
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 Sorrento Public Library with a Mission Score of 85 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, Sorrento Public 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 deficit of $31K, with expenses exceeding revenue.
Executive Compensation Analysis
Sorrento Public Library reports 0% officer compensation across all available filings, indicating that no executive salaries are paid, which is highly commendable for a nonprofit of its size and mission.
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 Sorrento Public Library's IRS 990 filings:
- Consistent deficit spending (expenses exceeding revenue in 2023 and 2022)
- Significant year-over-year revenue volatility (e.g., $68,083 in 2021 to $25,848 in 2022)
- Asset base declining in recent years ($308,601 in 2021 to $259,493 in 2023)
Strengths
The following positive indicators were identified for Sorrento Public Library:
- 100% of officer compensation reported as $0 across all filings, indicating no executive salaries
- Strong program spending focus (estimated 90% of expenses)
- No reported liabilities across all filings
- Maintains a healthy asset base relative to its annual revenue
Frequently Asked Questions about Sorrento Public Library
Is Sorrento Public Library a legitimate charity?
Sorrento Public Library (EIN: 10497094) is a registered tax-exempt nonprofit based in Maine. Our AI analysis gives it a Mission Score of 85/100. It has 4 years of IRS 990 filings on record. Total revenue: $24K. 3 red flags identified. 4 strengths noted. Financial health grade: B.
How does Sorrento Public Library spend its money?
Sorrento Public Library directs 90% of its spending to programs and services. This exceeds the 65% industry benchmark.
Are donations to Sorrento Public Library tax-deductible?
Sorrento Public Library is registered as a tax-exempt nonprofit (EIN: 10497094). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Sorrento Public Library compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Sorrento Public 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 Sorrento Public Library located?
Sorrento Public Library is headquartered in Sorrento, Maine and files with the IRS under EIN 10497094. It is classified under NTEE code B70.
How many years of IRS 990 filings does Sorrento Public Library have?
Sorrento Public Library has 4 years of IRS 990 filings on record at NonprofitSpending. Additional filing years may become available as the IRS releases new data. The most recent filing shows $24K in total revenue.
Is Sorrento Public Library a good charity?
Based on its financial filings, Sorrento Public Library appears to be a good charity in terms of its mission focus and lack of executive compensation. It directs a very high percentage of its spending to programs and has no reported officer compensation. However, its recent trend of expenses exceeding revenue could be a concern for long-term sustainability.
How does Sorrento Public Library fund its operations given the revenue-expense gap?
The consistent gap between revenue and expenses, such as $18,745 revenue vs. $49,364 expenses in 2023, suggests the library is likely drawing down on its accumulated assets to cover operational costs. This is sustainable only in the short to medium term.
What caused the significant revenue drop between 2021 and 2022?
The revenue dropped from $68,083 in 2021 to $25,848 in 2022. This large fluctuation could be due to the expiration of a significant grant, a one-time large donation in 2021, or a change in fundraising effectiveness. Further investigation into specific revenue sources would be needed.
Filing History
IRS 990 filing history for Sorrento Public Library showing financial trends over 4 years of public records:
Over 4 years of IRS 990 filings (2011–2023), Sorrento Public Library's revenue has grown by 28.9%, moving from $15K to $19K. Total assets decreased by 52.2% over the same period, from $543K to $259K. Total functional expenses rose by 412.3%, from $10K to $49K. In its most recent filing year (2023), Sorrento Public Library reported a deficit of $31K, with expenses exceeding revenue.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $19K | $49K | $259K | $0 | — | View 990 |
| 2022 | $26K | $44K | $290K | $0 | — | — |
| 2021 | $68K | $13K | $309K | $0 | — | — |
| 2011 | $15K | $10K | $543K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $19K, expenses of $49K, and assets of $259K (revenue -27.5% year-over-year).
- 2022: Revenue of $26K, expenses of $44K, and assets of $290K (revenue -62.0% year-over-year).
- 2021: Revenue of $68K, expenses of $13K, and assets of $309K (revenue +368.2% year-over-year).
- 2011: Revenue of $15K, expenses of $10K, and assets of $543K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Sorrento Public Library:
Data Sources and Methodology
This transparency report for Sorrento Public 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.