Steep Falls Library

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Steep Falls Library Form 990, Revenue, CEO Pay, and IRS Filing Signals

Steep Falls Library is surfaced here as a decision-ready nonprofit financial profile, not just a charity listing. The page consolidates IRS Form 990 revenue, expenses, assets, tax-exempt classification, executive compensation, mission score, red flags, and year-by-year filing history so donors, researchers, journalists, and grant teams can answer the common search questions around Steep Falls Library in one place.

Is Steep Falls Library Legit?

Some Concerns

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

IRS 990 Data Cockpit

Where the Money Comes From and Where It Goes

Across stored filings, Steep Falls Library shows contribution history pending. Next enrichment targets: revenue-source fields, IRS BMF classification.

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

About Steep Falls Library

Steep Falls Library (EIN: 10441542) is a nonprofit organization based in Steep Falls, ME, classified under NTEE code B70. The organization reported total revenue of $123K and total assets of $635K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Steep Falls Library's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

Organization Overview

Steep Falls Library is a small nonprofit that has been operating for 36 years, with 14 years of IRS 990 filings on record (2011–2024). Revenue has grown at a compound annual rate of 14.7%.

Key Financial Metrics (2024)

From the most recent IRS 990 filing on record:

Financial Health Grade: B

In 2024, Steep Falls Library reported a deficit of $3K with expenses exceeding revenue, holds 120.8 months of operating reserves (strong position), has a debt-to-asset ratio of 34.0% (moderate leverage).

Financial Trends

Over 14 years of filings (2011–2024), Steep Falls Library's revenue has grown at a compound annual growth rate (CAGR) of 14.7%.

IRS Tax-Exempt Classification

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 Steep Falls 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: 15%
• programs: 85%
• fundraising: 0%

According to IRS 990 filings, Steep Falls Library allocates its expenses as follows: admin: 15%, programs: 85%, fundraising: 0%. 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 deficit of $3K, with expenses exceeding revenue.
• Debt-to-asset ratio: 34.0%.

Executive Compensation Analysis

Steep Falls Library consistently reports 0% officer compensation across all available filings, indicating a volunteer-led board and management, which is highly commendable for a small organization and maximizes resources for its 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 Steep Falls Library's IRS 990 filings:

• Recurring operational deficits in recent years (e.g., 202406, 202306, 202206) where expenses exceeded revenue.

Strengths

The following positive indicators were identified for Steep Falls Library:

• Consistent 0% officer compensation, indicating strong volunteer leadership and efficient use of funds.
• Long-term growth in assets, providing financial stability and a buffer against deficits.
• Clear focus on mission with likely high program spending due to minimal administrative overhead.

Frequently Asked Questions about Steep Falls Library

Filing History

IRS 990 filing history for Steep Falls Library showing financial trends over 14 years of public records:

Over 14 years of IRS 990 filings (2011–2024), Steep Falls Library's revenue has grown by 493.3%, moving from $10K to $60K. Total assets increased by 32.3% over the same period, from $483K to $639K. Total functional expenses rose by 43.5%, from $44K to $64K. In its most recent filing year (2024), Steep Falls Library reported a deficit of $3K, with expenses exceeding revenue. The organization holds $217K in liabilities against $639K in assets (debt-to-asset ratio: 34.0%), resulting in net assets of $422K.

Year-by-Year Financial Summary

• 2024: Revenue of $60K, expenses of $64K, and assets of $639K (revenue +73.9% year-over-year).
• 2023: Revenue of $35K, expenses of $62K, and assets of $617K (revenue -26.7% year-over-year).
• 2022: Revenue of $47K, expenses of $57K, and assets of $610K (revenue +24.4% year-over-year).
• 2021: Revenue of $38K, expenses of $27K, and assets of $681K (revenue -17.7% year-over-year).
• 2020: Revenue of $46K, expenses of $40K, and assets of $567K (revenue -30.9% year-over-year).
• 2019: Revenue of $67K, expenses of $45K, and assets of $569K (revenue -21.1% year-over-year).
• 2018: Revenue of $85K, expenses of $45K, and assets of $543K (revenue +42.1% year-over-year).
• 2017: Revenue of $60K, expenses of $60K, and assets of $505K (revenue +5.0% year-over-year).
• 2016: Revenue of $57K, expenses of $44K, and assets of $491K (revenue +53.9% year-over-year).
• 2015: Revenue of $37K, expenses of $35K, and assets of $479K (revenue +38.0% year-over-year).
• 2014: Revenue of $27K, expenses of $35K, and assets of $500K (revenue +51.9% year-over-year).
• 2013: Revenue of $18K, expenses of $34K, and assets of $455K (revenue +1.9% year-over-year).
• 2012: Revenue of $17K, expenses of $47K, and assets of $435K (revenue +69.9% year-over-year).
• 2011: Revenue of $10K, expenses of $44K, and assets of $483K.

View Individual Filing Years

Explore detailed financial data from each IRS 990 filing year for Steep Falls Library:

Data Sources and Methodology

This transparency report for Steep Falls 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.