Spaulding Memorial Library
Spaulding Memorial Library maintains stable finances with growing assets and no reported officer compensation.
EIN: 16015105 · East Sebago, ME · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $171K |
| Total Expenses | $66K |
| Program Spending | 90% |
| Net Assets | $340K |
| Transparency Score | 92/100 |
Is Spaulding Memorial Library Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Spaulding Memorial Library directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Spaulding Memorial Library
Spaulding Memorial Library (EIN: 16015105) is a nonprofit organization based in East Sebago, ME. The organization reported total revenue of $171K and total assets of $441K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Spaulding Memorial Library's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Spaulding Memorial Library is a small nonprofit that has been operating for 88 years, with 14 years of IRS 990 filings on record (2011–2024). Revenue has grown at a compound annual rate of 1.3%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $81K |
| Total Expenses | $66K |
| Surplus / Deficit | +$15K |
| Total Assets | $341K |
| Total Liabilities | $602 |
| Net Assets | $340K |
| Operating Margin | 18.8% |
| Debt-to-Asset Ratio | 0.2% |
| Months of Reserves | 62.0 months |
Financial Health Grade: A
In 2024, Spaulding Memorial Library reported a surplus of $15K with revenue exceeding expenses, holds 62.0 months of operating reserves (strong position), has a debt-to-asset ratio of 0.2% (very low leverage).
Financial Trends
Over 14 years of filings (2011–2024), Spaulding Memorial Library's revenue has grown at a compound annual growth rate (CAGR) of 1.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | +17.3% | +3.2% | +4.4% |
| 2023 | +32.5% | +14.7% | +1.7% |
| 2022 | -49.8% | +5.0% | -11.3% |
| 2021 | +117.8% | -5.6% | +14.4% |
| 2020 | -14.0% | +2.0% | -0.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 3000 |
| IRS Ruling Date | 1938 |
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 Spaulding Memorial 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: 8%
- programs: 90%
- fundraising: 2%
According to IRS 990 filings, Spaulding Memorial Library allocates its expenses as follows: admin: 8%, programs: 90%, fundraising: 2%. With 90% 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 $15K, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.2%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating a volunteer-led organization. This is a significant strength, as it means all funds are directed towards the library's operations rather than administrative salaries.
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 Spaulding Memorial Library:
- Consistent asset growth, from $298,043 in 2015 to $340,876 in 2024.
- Zero reported officer compensation across all filings, indicating volunteer leadership and efficient use of funds.
- Very low liabilities, consistently under $1,500 in recent years, demonstrating strong financial management.
- Consistent filing of IRS Form 990s over 14 periods, indicating good transparency.
- Generally positive net income, with revenue often exceeding expenses (e.g., $81,301 revenue vs. $66,003 expenses in 2024).
Frequently Asked Questions about Spaulding Memorial Library
Is Spaulding Memorial Library a legitimate charity?
Spaulding Memorial Library (EIN: 16015105) is a registered tax-exempt nonprofit based in Maine. Our AI analysis gives it a Mission Score of 92/100. It has 14 years of IRS 990 filings on record. Total revenue: $171K. No red flags identified. 5 strengths noted. Financial health grade: A.
How does Spaulding Memorial Library spend its money?
Spaulding Memorial Library directs 90% of its spending to programs and services. Fundraising costs 2%. This exceeds the 65% industry benchmark.
Are donations to Spaulding Memorial Library tax-deductible?
Spaulding Memorial Library is registered as a tax-exempt nonprofit (EIN: 16015105). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Spaulding Memorial Library's spending goes to programs?
Spaulding Memorial Library directs 90% to programs, 2% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Spaulding Memorial Library located?
Spaulding Memorial Library is headquartered in East Sebago, Maine and files with the IRS under EIN 16015105.
How many years of IRS 990 filings does Spaulding Memorial Library have?
Spaulding Memorial 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 $171K in total revenue.
Is Spaulding Memorial Library a good charity?
Based on the provided financial data, Spaulding Memorial Library appears to be a very good charity. It demonstrates strong financial health, consistent asset growth, very low liabilities, and a complete absence of officer compensation, suggesting efficient use of funds for its mission.
How has the library's financial health changed over time?
The library's financial health has been consistently stable and generally improving. Assets have grown from $298,043 in 2015 to $340,876 in 2024, and liabilities have remained very low, often under $1,500. Revenue and expenses have fluctuated but generally show a positive net position.
What is the organization's approach to executive compensation?
The organization reports 0% officer compensation in all available filings, indicating that its leadership is entirely volunteer-based. This is a highly positive indicator of financial efficiency and dedication to the mission.
Filing History
IRS 990 filing history for Spaulding Memorial Library showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2011–2024), Spaulding Memorial Library's revenue has grown by 17.6%, moving from $69K to $81K. Total assets increased by 27.5% over the same period, from $267K to $341K. Total functional expenses rose by 35.1%, from $49K to $66K. In its most recent filing year (2024), Spaulding Memorial Library reported a surplus of $15K, with revenue exceeding expenses. The organization holds $602 in liabilities against $341K in assets (debt-to-asset ratio: 0.2%), resulting in net assets of $340K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $81K | $66K | $341K | $602 | — | — |
| 2023 | $69K | $64K | $326K | $1K | — | View 990 |
| 2022 | $52K | $56K | $321K | $1K | — | View 990 |
| 2021 | $104K | $53K | $362K | $862 | — | — |
| 2020 | $48K | $56K | $316K | $7K | — | View 990 |
| 2019 | $56K | $55K | $319K | $828 | — | View 990 |
| 2018 | $62K | $53K | $319K | $792 | — | View 990 |
| 2017 | $63K | $50K | $310K | $426 | — | View 990 |
| 2016 | $50K | $52K | $296K | $428 | — | View 990 |
| 2015 | $61K | $48K | $298K | $476 | — | View 990 |
| 2014 | $73K | $51K | $285K | $429 | — | View 990 |
| 2013 | $51K | $46K | $263K | $493 | — | View 990 |
| 2012 | $49K | $57K | $258K | $0 | — | View 990 |
| 2011 | $69K | $49K | $267K | $977 | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $81K, expenses of $66K, and assets of $341K (revenue +17.3% year-over-year).
- 2023: Revenue of $69K, expenses of $64K, and assets of $326K (revenue +32.5% year-over-year).
- 2022: Revenue of $52K, expenses of $56K, and assets of $321K (revenue -49.8% year-over-year).
- 2021: Revenue of $104K, expenses of $53K, and assets of $362K (revenue +117.8% year-over-year).
- 2020: Revenue of $48K, expenses of $56K, and assets of $316K (revenue -14.0% year-over-year).
- 2019: Revenue of $56K, expenses of $55K, and assets of $319K (revenue -9.8% year-over-year).
- 2018: Revenue of $62K, expenses of $53K, and assets of $319K (revenue -2.7% year-over-year).
- 2017: Revenue of $63K, expenses of $50K, and assets of $310K (revenue +26.0% year-over-year).
- 2016: Revenue of $50K, expenses of $52K, and assets of $296K (revenue -18.0% year-over-year).
- 2015: Revenue of $61K, expenses of $48K, and assets of $298K (revenue -15.8% year-over-year).
- 2014: Revenue of $73K, expenses of $51K, and assets of $285K (revenue +42.7% year-over-year).
- 2013: Revenue of $51K, expenses of $46K, and assets of $263K (revenue +4.2% year-over-year).
- 2012: Revenue of $49K, expenses of $57K, and assets of $258K (revenue -29.2% year-over-year).
- 2011: Revenue of $69K, expenses of $49K, and assets of $267K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Spaulding Memorial Library:
Data Sources and Methodology
This transparency report for Spaulding Memorial 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.