Squirrel Island Library
Squirrel Island Library reports modest revenue and expenses, maintaining a stable asset base with no liabilities.
EIN: 16015902 · Squirrel Island, ME · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Expenses | $12K |
| Program Spending | 85% |
| CEO/Top Officer Pay | $10,920 |
| Net Assets | $110K |
| Transparency Score | 75/100 |
Is Squirrel Island Library Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Squirrel Island Library directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Squirrel Island Library
Squirrel Island Library (EIN: 16015902) is a nonprofit organization based in Squirrel Island, ME. The organization reported total revenue of $0 and total assets of $0 according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Squirrel Island Library's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Squirrel Island Library is a micro nonprofit that has been operating for 80 years.
Key Financial Metrics (2021)
From the most recent IRS 990 filing on record:
| Total Revenue | $11K |
| Total Expenses | $12K |
| Surplus / Deficit | $-774 |
| Total Assets | $110K |
| Net Assets | $110K |
| Operating Margin | -7.1% |
| Months of Reserves | 113.2 months |
Financial Health Grade: B
In 2021, Squirrel Island Library reported a deficit of $774 with expenses exceeding revenue, holds 113.2 months of operating reserves (strong position).
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1946 |
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 Squirrel Island 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: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Squirrel Island 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 (2021)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $774, with expenses exceeding revenue.
Executive Compensation Analysis
No officer compensation was reported in the 202112 filing, indicating that the organization's leadership is likely volunteer-based or compensated minimally, which is appropriate for an organization with only $10,920 in revenue.
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 Squirrel Island Library's IRS 990 filings:
- Lack of detailed expense breakdown in available data
- Small operational deficit in the latest period ($774)
Strengths
The following positive indicators were identified for Squirrel Island Library:
- No reported officer compensation
- Zero liabilities reported
- Healthy asset base relative to revenue ($110,293 assets vs. $10,920 revenue)
- Consistent filing history (1 filing available)
Frequently Asked Questions about Squirrel Island Library
Is Squirrel Island Library a legitimate charity?
Squirrel Island Library (EIN: 16015902) is a registered tax-exempt nonprofit based in Maine. Our AI analysis gives it a Mission Score of 75/100. 2 red flags identified. 4 strengths noted. Financial health grade: B.
How does Squirrel Island Library spend its money?
Squirrel Island Library directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Squirrel Island Library tax-deductible?
Squirrel Island Library is registered as a tax-exempt nonprofit (EIN: 16015902). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Squirrel Island Library CEO make?
Squirrel Island Library's highest-compensated officer earns $10,920 annually. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Squirrel Island Library's spending goes to programs?
Squirrel Island Library directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Squirrel Island Library located?
Squirrel Island Library is headquartered in Squirrel Island, Maine and files with the IRS under EIN 16015902.
Is Squirrel Island Library a good charity?
Based on the available data, Squirrel Island Library appears to be a responsible, small-scale organization. It has a stable financial position with $110,293 in assets and no liabilities, and it reported no officer compensation. Its modest revenue of $10,920 suggests a community-focused operation, likely run by volunteers. While detailed program spending isn't provided, the overall financial health is positive for its size.
How does Squirrel Island Library manage its expenses?
In the 202112 period, Squirrel Island Library incurred $11,694 in expenses against $10,920 in revenue, resulting in a small operational deficit. Without a detailed breakdown of expenses, it's difficult to assess specific management strategies, but the overall spending is very low, indicating a lean operation.
What is the financial stability of Squirrel Island Library?
Squirrel Island Library demonstrates good financial stability for its size. It holds $110,293 in assets and has $0 in liabilities, indicating a strong balance sheet. While it had a slight operational deficit of $774 in the 202112 period, its substantial assets provide a solid buffer.
Filing History
IRS 990 filing history for Squirrel Island Library showing financial trends over 1 year of public records:
In its most recent filing year (2021), Squirrel Island Library reported a deficit of $774, with expenses exceeding revenue.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2021 | $11K | $12K | $110K | $0 | — | View 990 |
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Squirrel Island Library:
Data Sources and Methodology
This transparency report for Squirrel Island 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.