Southwest Harbor Public Library

Southwest Harbor Public Library shows consistent asset growth and strong financial health with no reported officer compensation.

EIN: 10241528 · Southwest Hbr, ME · Updated: 2026-03-28

$1.3MRevenue

$7.1MAssets

92/100Mission Score (Excellent)

Is Southwest Harbor Public Library Legit?

Appears Legitimate

GoodFiling Consistency

ExcellentSpending Efficiency

GoodTransparency

NoneRed Flags

Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →

Southwest Harbor Public Library directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.

About Southwest Harbor Public Library

Southwest Harbor Public Library (EIN: 10241528) is a nonprofit organization based in Southwest Hbr, ME. The organization reported total revenue of $1.3M and total assets of $7.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Southwest Harbor Public Library's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

The Southwest Harbor Public Library demonstrates strong financial health and consistent growth in assets over the past decade, increasing from $3.87 million in 2015 to over $7.11 million currently. The organization consistently operates with a surplus, as evidenced by revenues frequently exceeding expenses, such as in 2023 where revenue was $983,402 against expenses of $655,391. This indicates effective financial management and a healthy reserve. The library's liabilities remain very low, typically under $40,000, which is excellent for financial stability.

Spending efficiency appears high, with no reported officer compensation across all available filings, suggesting that resources are primarily directed towards operational costs and programs rather than executive salaries. While a detailed breakdown of program vs. administrative vs. fundraising expenses isn't explicitly provided in the summary data, the absence of officer compensation is a positive indicator of efficient resource allocation. The consistent growth in assets, coupled with low liabilities and operating surpluses, points to a well-managed and financially robust institution.

Transparency is good given the consistent filing of IRS Form 990s over 14 periods. The lack of officer compensation is a notable positive for transparency and public trust, as it indicates a volunteer-led or very lean administrative structure at the top. The consistent growth in assets and prudent financial management suggest a well-governed organization focused on its mission.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Southwest Harbor Public 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: 85%
fundraising: 5%

According to IRS 990 filings, Southwest Harbor Public 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.

Executive Compensation Analysis

Executive compensation is reported as 0% across all available filings, indicating that the organization's leadership either serves on a volunteer basis or is compensated through other means not categorized as officer compensation, which is highly unusual and suggests a very lean administrative overhead at the top.

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 Southwest Harbor Public Library:

Consistent asset growth, increasing from $3.87M in 2015 to $7.11M currently.
Strong financial health with revenues consistently exceeding expenses (e.g., $983,402 revenue vs. $655,391 expenses in 2023).
Extremely low liabilities, typically under $40,000, indicating minimal debt.
No reported officer compensation across all 14 filings, suggesting highly efficient use of funds at the executive level.
Consistent filing of IRS Form 990s, demonstrating good transparency.

Frequently Asked Questions about Southwest Harbor Public Library

Is Southwest Harbor Public Library a legitimate charity?

Based on AI analysis of IRS 990 filings, Southwest Harbor Public Library (EIN: 10241528) appears legitimate. Mission Score: 92/100. 0 red flags identified, 5 strengths noted.

How does Southwest Harbor Public Library spend its money?

Southwest Harbor Public Library directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.

Are donations to Southwest Harbor Public Library tax-deductible?

Southwest Harbor Public Library is registered as a tax-exempt nonprofit (EIN: 10241528). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.

Is Southwest Harbor Public Library a good charity?

Based on the provided financial data, Southwest Harbor Public Library appears to be a very good charity. It demonstrates strong financial health, consistent asset growth, very low liabilities, and notably, no reported officer compensation, suggesting efficient use of funds.

How has the library's financial position changed over time?

The library's financial position has significantly strengthened over time. Assets have grown from $3.87 million in 2015 to over $7.11 million currently, and it consistently maintains a healthy surplus with revenues exceeding expenses in most years.

What is the organization's approach to executive compensation?

The organization reports 0% officer compensation in all available filings, indicating a highly unusual and potentially volunteer-driven executive leadership structure, which is a strong positive for resource allocation.

Filing History

IRS 990 filing history for Southwest Harbor Public Library showing financial trends over 14 years of public records:

Over 14 years of IRS 990 filings (2010–2023), Southwest Harbor Public Library's revenue has grown by 169%, moving from $366K to $983K. Total assets increased by 111.2% over the same period, from $3.0M to $6.4M. Total functional expenses rose by 94.8%, from $337K to $655K. In its most recent filing year (2023), Southwest Harbor Public Library reported a surplus of $328K, with revenue exceeding expenses. The organization holds $20K in liabilities against $6.4M in assets (debt-to-asset ratio: 0.3%), resulting in net assets of $6.4M.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$983K	$655K	$6.4M	$20K	—	—
2022	$1.5M	$564K	$5.7M	$38K	—	View 990
2021	$805K	$531K	$5.9M	$25K	—	View 990
2020	$780K	$526K	$5.2M	$22K	—	—
2019	$616K	$508K	$4.9M	$14K	—	View 990
2018	$624K	$492K	$4.2M	$10K	—	View 990
2017	$616K	$483K	$4.5M	$0	—	View 990
2016	$511K	$468K	$4.1M	$0	—	View 990
2015	$521K	$424K	$3.9M	$484	—	View 990
2014	$532K	$438K	$3.9M	$0	—	View 990
2013	$523K	$419K	$3.8M	$0	—	View 990
2012	$577K	$371K	$3.4M	$6K	—	View 990
2011	$344K	$362K	$3.0M	$6K	—	View 990
2010	$366K	$337K	$3.0M	$7K	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $983K, expenses of $655K, and assets of $6.4M (revenue -34.0% year-over-year).
2022: Revenue of $1.5M, expenses of $564K, and assets of $5.7M (revenue +85.0% year-over-year).
2021: Revenue of $805K, expenses of $531K, and assets of $5.9M (revenue +3.2% year-over-year).
2020: Revenue of $780K, expenses of $526K, and assets of $5.2M (revenue +26.6% year-over-year).
2019: Revenue of $616K, expenses of $508K, and assets of $4.9M (revenue -1.3% year-over-year).
2018: Revenue of $624K, expenses of $492K, and assets of $4.2M (revenue +1.4% year-over-year).
2017: Revenue of $616K, expenses of $483K, and assets of $4.5M (revenue +20.6% year-over-year).
2016: Revenue of $511K, expenses of $468K, and assets of $4.1M (revenue -2.0% year-over-year).
2015: Revenue of $521K, expenses of $424K, and assets of $3.9M (revenue -2.0% year-over-year).
2014: Revenue of $532K, expenses of $438K, and assets of $3.9M (revenue +1.7% year-over-year).
2013: Revenue of $523K, expenses of $419K, and assets of $3.8M (revenue -9.3% year-over-year).
2012: Revenue of $577K, expenses of $371K, and assets of $3.4M (revenue +67.5% year-over-year).
2011: Revenue of $344K, expenses of $362K, and assets of $3.0M (revenue -5.8% year-over-year).
2010: Revenue of $366K, expenses of $337K, and assets of $3.0M.

Data Sources and Methodology

This transparency report for Southwest Harbor 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.