Topsham Public Library
Topsham Public Library maintains stable finances with growing assets and no reported executive compensation.
EIN: 10268926 · Topsham, ME · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $970K |
| Total Expenses | $923K |
| Program Spending | 85% |
| CEO/Top Officer Pay | $969,920. |
| Net Assets | $1.6M |
| Transparency Score | 90/100 |
Is Topsham Public Library Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Topsham Public Library directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Topsham Public Library
Topsham Public Library (EIN: 10268926) is a nonprofit organization based in Topsham, ME. The organization reported total revenue of $970K and total assets of $1.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Topsham Public Library's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Topsham Public Library is a small nonprofit that has been operating for 35 years, with 12 years of IRS 990 filings on record (2012–2023). Revenue has grown at a compound annual rate of 7.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $903K |
| Total Expenses | $923K |
| Surplus / Deficit | $-20,116 |
| Total Assets | $1.6M |
| Total Liabilities | $38K |
| Net Assets | $1.6M |
| Operating Margin | -2.2% |
| Debt-to-Asset Ratio | 2.3% |
| Months of Reserves | 21.3 months |
Financial Health Grade: B
In 2023, Topsham Public Library reported a deficit of $20K with expenses exceeding revenue, holds 21.3 months of operating reserves (strong position), has a debt-to-asset ratio of 2.3% (very low leverage).
Financial Trends
Over 12 years of filings (2012–2023), Topsham Public Library's revenue has grown at a compound annual growth rate (CAGR) of 7.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -1.5% | +2.5% | +1.1% |
| 2022 | -16.1% | +12.6% | -7.9% |
| 2021 | +36.6% | -4.7% | +39.8% |
| 2020 | +2.4% | +9.1% | +3.7% |
| 2019 | -47.4% | +8.8% | +3.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 1991 |
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 Topsham Public Library with a Mission Score of 90 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: 85%
- fundraising: 5%
According to IRS 990 filings, Topsham Public 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 (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $20K, with expenses exceeding revenue.
- Debt-to-asset ratio: 2.3%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers received compensation from the organization, which is highly favorable for a nonprofit of its size with latest revenue of $969,920.
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 Topsham Public Library's IRS 990 filings:
- NTEE Code is unknown, which can make it harder to benchmark against similar organizations.
Strengths
The following positive indicators were identified for Topsham Public Library:
- Consistent 0% officer compensation across all filings, indicating strong financial stewardship.
- Significant growth in assets from $350,312 in 201406 to $1,715,609 currently, demonstrating financial stability and growth.
- Low liabilities relative to assets, indicating a healthy balance sheet.
- Revenues generally cover expenses, showing sound financial management (e.g., 202206 revenue $916,950 vs. expenses $900,425).
Frequently Asked Questions about Topsham Public Library
Is Topsham Public Library a legitimate charity?
Topsham Public Library (EIN: 10268926) is a registered tax-exempt nonprofit based in Maine. Our AI analysis gives it a Mission Score of 90/100. It has 12 years of IRS 990 filings on record. Total revenue: $970K. 1 red flag identified. 4 strengths noted. Financial health grade: B.
How does Topsham Public Library spend its money?
Topsham Public Library directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Topsham Public Library tax-deductible?
Topsham Public Library is registered as a tax-exempt nonprofit (EIN: 10268926). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Topsham Public Library CEO make?
Topsham Public Library's highest-compensated officer earns $969,920. annually. The organization reported $970K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Topsham Public Library's spending goes to programs?
Topsham Public Library directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Topsham Public Library located?
Topsham Public Library is headquartered in Topsham, Maine and files with the IRS under EIN 10268926.
How many years of IRS 990 filings does Topsham Public Library have?
Topsham Public Library has 12 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 $970K in total revenue.
Is Topsham Public Library a good charity?
Based on the provided financial data, Topsham Public Library appears to be a well-managed organization. It consistently reports 0% officer compensation, maintains a healthy balance sheet with growing assets, and generally keeps expenses in line with revenue, suggesting efficient use of funds for its mission.
How has Topsham Public Library's financial health changed over time?
The library's financial health has improved significantly over the past decade. Assets have grown from $350,312 in 201406 to $1,715,609 currently, and while revenues and expenses fluctuate, they generally demonstrate stability and growth, with liabilities remaining low.
What is the trend in Topsham Public Library's revenue and expenses?
Revenue and expenses have generally trended upwards over the decade, with some fluctuations. For example, revenue peaked at $1,483,841 in 201806 and was $902,976 in 202306, while expenses have also increased but typically remain close to or slightly below revenue, indicating responsible spending.
Filing History
IRS 990 filing history for Topsham Public Library showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2012–2023), Topsham Public Library's revenue has grown by 115.4%, moving from $419K to $903K. Total assets increased by 490.8% over the same period, from $278K to $1.6M. Total functional expenses rose by 112.8%, from $434K to $923K. In its most recent filing year (2023), Topsham Public Library reported a deficit of $20K, with expenses exceeding revenue. The organization holds $38K in liabilities against $1.6M in assets (debt-to-asset ratio: 2.3%), resulting in net assets of $1.6M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $903K | $923K | $1.6M | $38K | — | View 990 |
| 2022 | $917K | $900K | $1.6M | $24K | — | View 990 |
| 2021 | $1.1M | $800K | $1.8M | $28K | — | View 990 |
| 2020 | $799K | $839K | $1.3M | $135K | — | View 990 |
| 2019 | $781K | $769K | $1.2M | $39K | — | View 990 |
| 2018 | $1.5M | $707K | $1.2M | $27K | — | View 990 |
| 2017 | $643K | $667K | $377K | $22K | — | View 990 |
| 2016 | $570K | $568K | $382K | $23K | — | View 990 |
| 2015 | $527K | $500K | $396K | $30K | — | View 990 |
| 2014 | $461K | $478K | $350K | $10K | — | View 990 |
| 2013 | $483K | $439K | $334K | $475 | — | View 990 |
| 2012 | $419K | $434K | $278K | $3K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $903K, expenses of $923K, and assets of $1.6M (revenue -1.5% year-over-year).
- 2022: Revenue of $917K, expenses of $900K, and assets of $1.6M (revenue -16.1% year-over-year).
- 2021: Revenue of $1.1M, expenses of $800K, and assets of $1.8M (revenue +36.6% year-over-year).
- 2020: Revenue of $799K, expenses of $839K, and assets of $1.3M (revenue +2.4% year-over-year).
- 2019: Revenue of $781K, expenses of $769K, and assets of $1.2M (revenue -47.4% year-over-year).
- 2018: Revenue of $1.5M, expenses of $707K, and assets of $1.2M (revenue +130.8% year-over-year).
- 2017: Revenue of $643K, expenses of $667K, and assets of $377K (revenue +12.8% year-over-year).
- 2016: Revenue of $570K, expenses of $568K, and assets of $382K (revenue +8.1% year-over-year).
- 2015: Revenue of $527K, expenses of $500K, and assets of $396K (revenue +14.2% year-over-year).
- 2014: Revenue of $461K, expenses of $478K, and assets of $350K (revenue -4.4% year-over-year).
- 2013: Revenue of $483K, expenses of $439K, and assets of $334K (revenue +15.2% year-over-year).
- 2012: Revenue of $419K, expenses of $434K, and assets of $278K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Topsham Public Library:
Data Sources and Methodology
This transparency report for Topsham Public 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.