Southold Free Library
Southold Free Library maintains strong financial health with growing assets and no reported officer compensation.
EIN: 111675859 · Southold, NY · NTEE: B72Z · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.8M |
| Total Expenses | $1.2M |
| Program Spending | 85% |
| CEO/Top Officer Pay | $1 |
| Net Assets | $4.7M |
| Transparency Score | 90/100 |
Is Southold Free Library Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Southold Free Library directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Southold Free Library
Southold Free Library (EIN: 111675859) is a nonprofit organization based in Southold, NY, classified under NTEE code B72Z. The organization reported total revenue of $1.8M and total assets of $5.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Southold Free Library's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Southold Free Library is a mid-size nonprofit that has been operating for 37 years, with 14 years of IRS 990 filings on record (2011–2024). Revenue has grown at a compound annual rate of 3.0%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.3M |
| Total Expenses | $1.2M |
| Surplus / Deficit | +$51K |
| Total Assets | $4.8M |
| Total Liabilities | $64K |
| Net Assets | $4.7M |
| Operating Margin | 4.0% |
| Debt-to-Asset Ratio | 1.3% |
| Months of Reserves | 47.7 months |
Financial Health Grade: A
In 2024, Southold Free Library reported a surplus of $51K with revenue exceeding expenses, holds 47.7 months of operating reserves (strong position), has a debt-to-asset ratio of 1.3% (very low leverage).
Financial Trends
Over 14 years of filings (2011–2024), Southold Free Library's revenue has grown at a compound annual growth rate (CAGR) of 3.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | -45.7% | -0.3% | +0.8% |
| 2023 | +99.5% | +1.2% | +27.1% |
| 2022 | +4.6% | +4.4% | -4.7% |
| 2021 | -7.5% | +7.1% | -4.5% |
| 2020 | -16.3% | +0.9% | +-0.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1230 |
| IRS Ruling Date | 1989 |
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 Southold Free Library with a Mission Score of 90 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: 85%
- fundraising: 5%
According to IRS 990 filings, Southold Free Library allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $51K, with revenue exceeding expenses.
- Debt-to-asset ratio: 1.3%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers received compensation from the organization. This is highly unusual for an organization of its size with annual expenses exceeding $1 million, suggesting either a fully volunteer leadership or compensation is reported under other categories, which could impact 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 Southold Free Library's IRS 990 filings:
- Unusually low reported liabilities relative to assets in some periods, potentially indicating incomplete reporting or specific financial structures.
- 0% officer compensation reported across all filings for an organization with over $1M in expenses, which is highly uncommon and may warrant further investigation into how leadership is compensated or structured.
Strengths
The following positive indicators were identified for Southold Free Library:
- Consistent asset growth, indicating strong financial health and sustainability.
- Revenues generally exceed expenses, leading to positive net income in most years.
- Low liabilities relative to assets, suggesting a strong balance sheet.
- No reported officer compensation, implying a high dedication of funds to programmatic activities.
Frequently Asked Questions about Southold Free Library
Is Southold Free Library a legitimate charity?
Based on AI analysis of IRS 990 filings, Southold Free Library (EIN: 111675859) some concerns. Mission Score: 90/100. 2 red flags identified, 4 strengths noted.
How does Southold Free Library spend its money?
Southold Free Library directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Southold Free Library tax-deductible?
Southold Free Library is registered as a tax-exempt nonprofit (EIN: 111675859). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Southold Free Library CEO make?
Southold Free Library's highest-compensated officer earns $1 annually. The organization reported $1.8M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Southold Free Library's spending goes to programs?
Southold Free Library directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Southold Free Library compare to similar nonprofits?
With a transparency score of 90/100 (Excellent), Southold Free Library is above average for NTEE category B72Z nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Southold Free Library located?
Southold Free Library is headquartered in Southold, New York and files with the IRS under EIN 111675859. It is classified under NTEE code B72Z.
How many years of IRS 990 filings does Southold Free Library have?
Southold Free Library has 14 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 $1.8M in total revenue.
Is Southold Free Library a good charity?
Based on its financial data, Southold Free Library appears to be a well-managed organization with strong financial health, growing assets, and a consistent history of revenues generally exceeding expenses. The reported 0% officer compensation is a notable positive, suggesting a high dedication of resources to its mission.
How has the library's revenue trended over the past few years?
The library's revenue has shown some fluctuation but generally an upward trend. For example, revenue was $1,155,420 in 202206, jumped to $2,304,844 in 202306, and then settled at $1,252,480 in 202406. The latest revenue of $1,791,583 indicates continued strong financial intake.
What is the organization's asset growth like?
Southold Free Library has demonstrated consistent asset growth, increasing from $3,093,025 in 201706 to $5,412,613 in the latest filing. This indicates strong financial management and accumulation of resources.
Filing History
IRS 990 filing history for Southold Free Library showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2011–2024), Southold Free Library's revenue has grown by 47.2%, moving from $851K to $1.3M. Total assets increased by 44% over the same period, from $3.3M to $4.8M. Total functional expenses rose by 41.1%, from $851K to $1.2M. In its most recent filing year (2024), Southold Free Library reported a surplus of $51K, with revenue exceeding expenses. The organization holds $64K in liabilities against $4.8M in assets (debt-to-asset ratio: 1.3%), resulting in net assets of $4.7M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $1.3M | $1.2M | $4.8M | $64K | — | — |
| 2023 | $2.3M | $1.2M | $4.7M | $76K | — | — |
| 2022 | $1.2M | $1.2M | $3.7M | $165K | — | View 990 |
| 2021 | $1.1M | $1.1M | $3.9M | $311K | — | — |
| 2020 | $1.2M | $1.1M | $4.1M | $461K | — | View 990 |
| 2019 | $1.4M | $1.1M | $4.1M | $591K | — | View 990 |
| 2018 | $1.1M | $1.1M | $3.9M | $720K | — | View 990 |
| 2017 | $952K | $983K | $3.1M | $37K | — | View 990 |
| 2016 | $904K | $939K | $3.1M | $36K | — | View 990 |
| 2015 | $729K | $912K | $3.2M | $43K | — | View 990 |
| 2014 | $960K | $894K | $3.3M | $33K | — | View 990 |
| 2013 | $437K | $452K | $3.7M | $423K | — | View 990 |
| 2012 | $876K | $921K | $3.3M | $10K | — | View 990 |
| 2011 | $851K | $851K | $3.3M | $20K | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $1.3M, expenses of $1.2M, and assets of $4.8M (revenue -45.7% year-over-year).
- 2023: Revenue of $2.3M, expenses of $1.2M, and assets of $4.7M (revenue +99.5% year-over-year).
- 2022: Revenue of $1.2M, expenses of $1.2M, and assets of $3.7M (revenue +4.6% year-over-year).
- 2021: Revenue of $1.1M, expenses of $1.1M, and assets of $3.9M (revenue -7.5% year-over-year).
- 2020: Revenue of $1.2M, expenses of $1.1M, and assets of $4.1M (revenue -16.3% year-over-year).
- 2019: Revenue of $1.4M, expenses of $1.1M, and assets of $4.1M (revenue +25.7% year-over-year).
- 2018: Revenue of $1.1M, expenses of $1.1M, and assets of $3.9M (revenue +19.2% year-over-year).
- 2017: Revenue of $952K, expenses of $983K, and assets of $3.1M (revenue +5.4% year-over-year).
- 2016: Revenue of $904K, expenses of $939K, and assets of $3.1M (revenue +23.9% year-over-year).
- 2015: Revenue of $729K, expenses of $912K, and assets of $3.2M (revenue -24.0% year-over-year).
- 2014: Revenue of $960K, expenses of $894K, and assets of $3.3M (revenue +119.4% year-over-year).
- 2013: Revenue of $437K, expenses of $452K, and assets of $3.7M (revenue -50.1% year-over-year).
- 2012: Revenue of $876K, expenses of $921K, and assets of $3.3M (revenue +2.9% year-over-year).
- 2011: Revenue of $851K, expenses of $851K, and assets of $3.3M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Southold Free Library:
Data Sources and Methodology
This transparency report for Southold Free 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.