The Franklin Library
The Franklin Library reports significant financial surplus and asset growth with zero liabilities and no officer compensation.
EIN: 10394150 · Franklin, ME · NTEE: B70 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $104K |
| Total Expenses | $14K |
| Program Spending | 90% |
| Net Assets | $116K |
| Transparency Score | 95/100 |
Is The Franklin Library Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
The Franklin Library directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About The Franklin Library
The Franklin Library (EIN: 10394150) is a nonprofit organization based in Franklin, ME, classified under NTEE code B70. The organization reported total revenue of $104K and total assets of $205K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of The Franklin Library's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
The Franklin Library is a small nonprofit that has been operating for 12 years.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $118K |
| Total Expenses | $14K |
| Surplus / Deficit | +$104K |
| Total Assets | $116K |
| Net Assets | $116K |
| Operating Margin | 88.5% |
| Months of Reserves | 102.9 months |
Financial Health Grade: A
In 2024, The Franklin Library reported a surplus of $104K with revenue exceeding expenses, holds 102.9 months of operating reserves (strong position).
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 2014 |
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 The Franklin Library with a Mission Score of 95 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: 90%
- fundraising: 0%
According to IRS 990 filings, The Franklin Library allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. 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 $104K, with revenue exceeding expenses.
Executive Compensation Analysis
The Franklin Library reported 0% officer compensation, indicating a volunteer-led or very leanly staffed organization, which maximizes funds available 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.
Strengths
The following positive indicators were identified for The Franklin Library:
- Significant financial surplus ($104,237 in 202406 period)
- Zero liabilities reported, indicating strong financial health
- No officer compensation, suggesting efficient use of funds and volunteer-driven efforts
- Strong asset growth from $116,243 to $204,783
- Very low expense ratio relative to revenue ($13,554 expenses vs. $117,791 revenue)
Frequently Asked Questions about The Franklin Library
Is The Franklin Library a legitimate charity?
Based on AI analysis of IRS 990 filings, The Franklin Library (EIN: 10394150) appears legitimate. Mission Score: 95/100. 0 red flags identified, 5 strengths noted.
How does The Franklin Library spend its money?
The Franklin Library directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to The Franklin Library tax-deductible?
The Franklin Library is registered as a tax-exempt nonprofit (EIN: 10394150). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does The Franklin Library compare to similar nonprofits?
With a transparency score of 95/100 (Excellent), The Franklin Library is above average for NTEE category B70 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is The Franklin Library located?
The Franklin Library is headquartered in Franklin, Maine and files with the IRS under EIN 10394150. It is classified under NTEE code B70.
Is The Franklin Library a good charity?
Based on its IRS 990 data, The Franklin Library appears to be a very good charity. It demonstrates excellent financial health with a significant surplus ($104,237 in the latest period), zero liabilities, and no reported officer compensation, indicating efficient use of funds and a strong commitment to its mission.
How does The Franklin Library manage its expenses?
The Franklin Library manages its expenses exceptionally well, with total expenses of only $13,554 against revenues of $117,791 in the latest filing. This very low expense ratio suggests highly efficient operations, likely driven by volunteer efforts and minimal overhead.
What is the financial trend of The Franklin Library?
The financial trend for The Franklin Library is positive, showing strong growth in assets from $116,243 to $204,783 and a substantial surplus in its latest filing period. This indicates increasing financial stability and capacity.
Filing History
IRS 990 filing history for The Franklin Library showing financial trends over 1 year of public records:
In its most recent filing year (2024), The Franklin Library reported a surplus of $104K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $118K | $14K | $116K | $0 | — | — |
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for The Franklin Library:
Data Sources and Methodology
This transparency report for The Franklin 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.