Torrington Library
EIN: 60669622 · Torrington, CT · NTEE: B820
Is Torrington Library Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Torrington Library
Torrington Library (EIN: 60669622) is a nonprofit organization based in Torrington, CT, classified under NTEE code B820. The organization reported total revenue of $6.6M and total assets of $42.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Torrington Library's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Analysis Pending
AI enrichment for Torrington Library has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Torrington Library with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Frequently Asked Questions about Torrington Library
Is Torrington Library a legitimate charity?
Based on AI analysis of IRS 990 filings, Torrington Library (EIN: 60669622) insufficient data. 0 red flags identified, 0 strengths noted.
How does Torrington Library spend its money?
Detailed spending breakdown data is not yet available for Torrington Library. Check back for updated IRS 990 analysis.
Are donations to Torrington Library tax-deductible?
Torrington Library is registered as a tax-exempt nonprofit (EIN: 60669622). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Filing History
IRS 990 filing history for Torrington Library showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Torrington Library's revenue has grown by 116%, moving from $1.3M to $2.8M. Total assets increased by 92.1% over the same period, from $21.0M to $40.4M. Total functional expenses rose by 85.9%, from $756K to $1.4M. In its most recent filing year (2023), Torrington Library reported a surplus of $1.4M, with revenue exceeding expenses. The organization holds $41K in liabilities against $40.4M in assets (debt-to-asset ratio: 0.1%), resulting in net assets of $40.4M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $2.8M | $1.4M | $40.4M | $41K | — | — |
| 2022 | $2.2M | $1.4M | $40.8M | $41K | — | View 990 |
| 2021 | $2.1M | $1.3M | $39.0M | $37K | — | View 990 |
| 2020 | $797K | $1.2M | $34.7M | $31K | — | — |
| 2019 | $1.2M | $1.1M | $33.9M | $37K | — | View 990 |
| 2018 | $1.7M | $1.1M | $30.9M | $40K | — | View 990 |
| 2017 | $2.5M | $1.0M | $32.1M | $46K | — | View 990 |
| 2016 | $1.7M | $771K | $29.6M | $501K | — | View 990 |
| 2015 | $2.8M | $837K | $27.4M | $508K | — | View 990 |
| 2014 | $1.9M | $842K | $27.8M | $33K | — | View 990 |
| 2013 | $1.7M | $801K | $26.3M | $49K | — | View 990 |
| 2012 | $1.6M | $778K | $22.4M | $42K | — | View 990 |
| 2011 | $1.3M | $756K | $21.0M | $16K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.8M, expenses of $1.4M, and assets of $40.4M (revenue +30.0% year-over-year).
- 2022: Revenue of $2.2M, expenses of $1.4M, and assets of $40.8M (revenue +5.6% year-over-year).
- 2021: Revenue of $2.1M, expenses of $1.3M, and assets of $39.0M (revenue +158.6% year-over-year).
- 2020: Revenue of $797K, expenses of $1.2M, and assets of $34.7M (revenue -36.1% year-over-year).
- 2019: Revenue of $1.2M, expenses of $1.1M, and assets of $33.9M (revenue -27.6% year-over-year).
- 2018: Revenue of $1.7M, expenses of $1.1M, and assets of $30.9M (revenue -31.8% year-over-year).
- 2017: Revenue of $2.5M, expenses of $1.0M, and assets of $32.1M (revenue +45.7% year-over-year).
- 2016: Revenue of $1.7M, expenses of $771K, and assets of $29.6M (revenue -37.5% year-over-year).
- 2015: Revenue of $2.8M, expenses of $837K, and assets of $27.4M (revenue +43.8% year-over-year).
- 2014: Revenue of $1.9M, expenses of $842K, and assets of $27.8M (revenue +12.9% year-over-year).
- 2013: Revenue of $1.7M, expenses of $801K, and assets of $26.3M (revenue +4.4% year-over-year).
- 2012: Revenue of $1.6M, expenses of $778K, and assets of $22.4M (revenue +24.8% year-over-year).
- 2011: Revenue of $1.3M, expenses of $756K, and assets of $21.0M.
Data Sources and Methodology
This transparency report for Torrington 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.