Thompson Free Library Fbo

Thompson Free Library Fbo maintains stable assets with minimal liabilities and no reported officer compensation.

EIN: 16030840 · Damariscotta, ME · Updated: 2026-03-28

$86KRevenue

$399KAssets

92/100Mission Score (Excellent)

Is Thompson Free Library Fbo 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 →

Thompson Free Library Fbo directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.

About Thompson Free Library Fbo

Thompson Free Library Fbo (EIN: 16030840) is a nonprofit organization based in Damariscotta, ME. The organization reported total revenue of $86K and total assets of $399K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Thompson Free Library Fbo's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

Thompson Free Library Fbo appears to be a financially stable, albeit small, organization primarily focused on its mission. Over the past five years (2019-2023), its revenue has fluctuated, ranging from $14,283 to $22,596, with expenses generally in a similar range. The organization consistently maintains a healthy asset base, hovering around $400,000, significantly exceeding its minimal liabilities of $1. This indicates strong financial solvency and a good reserve for future operations. The consistent reporting of zero officer compensation across all available filings suggests a volunteer-driven leadership or that compensation is covered by a separate entity, which enhances its spending efficiency from a compensation perspective.

The organization's spending efficiency is commendable given its consistent low expenses relative to its assets. While specific program spending percentages are not detailed in the provided data, the absence of officer compensation and minimal liabilities imply that the majority of its operational expenses likely directly support its library services. The consistent filing of IRS Form 990s over a decade demonstrates a commitment to transparency, providing a clear historical record of its financial activities. The relatively stable financial position, with assets significantly outweighing liabilities, suggests a well-managed endowment or investment strategy supporting its long-term viability.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Thompson Free Library Fbo 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: 90%
fundraising: 0%

According to IRS 990 filings, Thompson Free Library Fbo 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.

Executive Compensation Analysis

The organization consistently reports 0% officer compensation across all available filings, indicating that its leadership is either entirely volunteer-based or compensated by an external entity, which is highly efficient for a nonprofit of its size.

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 Thompson Free Library Fbo:

Strong financial solvency with assets significantly exceeding liabilities (e.g., $385,322 assets vs. $1 liability in 2023).
Consistent reporting of 0% officer compensation, indicating high efficiency in leadership costs.
Long history of IRS 990 filings (10 filings), demonstrating commitment to transparency.
Stable asset base around $400,000, providing long-term financial security.
Minimal liabilities ($1 across most recent filings) indicating excellent financial health.

Frequently Asked Questions about Thompson Free Library Fbo

Is Thompson Free Library Fbo a legitimate charity?

Based on AI analysis of IRS 990 filings, Thompson Free Library Fbo (EIN: 16030840) appears legitimate. Mission Score: 92/100. 0 red flags identified, 5 strengths noted.

How does Thompson Free Library Fbo spend its money?

Thompson Free Library Fbo directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.

Are donations to Thompson Free Library Fbo tax-deductible?

Thompson Free Library Fbo is registered as a tax-exempt nonprofit (EIN: 16030840). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.

Is Thompson Free Library Fbo a good charity?

Based on the available data, Thompson Free Library Fbo appears to be a well-managed organization with strong financial stability, minimal liabilities, and no reported officer compensation, suggesting a high degree of efficiency and dedication to its mission.

How does Thompson Free Library Fbo manage its assets?

The organization consistently maintains a substantial asset base, around $400,000, significantly higher than its annual revenues and expenses. This suggests effective management of an endowment or investments to support its long-term operations.

What is the trend in Thompson Free Library Fbo's revenue and expenses?

Over the past five years (2019-2023), revenues have ranged from $14,283 to $22,596, and expenses from $11,469 to $25,058. While there are fluctuations, the organization generally operates within its means, with expenses often close to or slightly exceeding revenue in some years, indicating consistent operational activity.

Filing History

IRS 990 filing history for Thompson Free Library Fbo showing financial trends over 10 years of public records:

Over 10 years of IRS 990 filings (2011–2023), Thompson Free Library Fbo's revenue has declined by 53.5%, moving from $31K to $14K. Total assets increased by 5.7% over the same period, from $365K to $385K. Total functional expenses fell by 1.9%, from $22K to $22K. In its most recent filing year (2023), Thompson Free Library Fbo reported a deficit of $8K, with expenses exceeding revenue. The organization holds $1 in liabilities against $385K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $385K.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$14K	$22K	$385K	$1	—	—
2022	$16K	$25K	$393K	$1	—	—
2021	$14K	$21K	$402K	$1	—	—
2020	$22K	$22K	$409K	$1	—	—
2019	$23K	$11K	$409K	$1	—	View 990
2015	$17K	$7K	$419K	$1	—	View 990
2014	$51K	$28K	$408K	$0	—	View 990
2013	$20K	$24K	$385K	$0	—	View 990
2012	$47K	$22K	$389K	$0	—	View 990
2011	$31K	$22K	$365K	$0	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $14K, expenses of $22K, and assets of $385K (revenue -12.2% year-over-year).
2022: Revenue of $16K, expenses of $25K, and assets of $393K (revenue +15.1% year-over-year).
2021: Revenue of $14K, expenses of $21K, and assets of $402K (revenue -35.6% year-over-year).
2020: Revenue of $22K, expenses of $22K, and assets of $409K (revenue -3.0% year-over-year).
2019: Revenue of $23K, expenses of $11K, and assets of $409K (revenue +34.1% year-over-year).
2015: Revenue of $17K, expenses of $7K, and assets of $419K (revenue -67.2% year-over-year).
2014: Revenue of $51K, expenses of $28K, and assets of $408K (revenue +156.1% year-over-year).
2013: Revenue of $20K, expenses of $24K, and assets of $385K (revenue -57.8% year-over-year).
2012: Revenue of $47K, expenses of $22K, and assets of $389K (revenue +54.7% year-over-year).
2011: Revenue of $31K, expenses of $22K, and assets of $365K.

Data Sources and Methodology

This transparency report for Thompson Free Library Fbo 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.