Trustees Of Merrill Memorial Library
Merrill Memorial Library maintains strong assets and efficient operations with no executive compensation.
EIN: 16012936 · Yarmouth, ME · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $679K |
| Total Expenses | $645K |
| Program Spending | 90% |
| Net Assets | $4.2M |
| Transparency Score | 95/100 |
Is Trustees Of Merrill Memorial Library Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Trustees Of Merrill Memorial Library directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Trustees Of Merrill Memorial Library
Trustees Of Merrill Memorial Library (EIN: 16012936) is a nonprofit organization based in Yarmouth, ME. The organization reported total revenue of $679K and total assets of $4.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Trustees Of Merrill Memorial Library's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Trustees Of Merrill Memorial Library is a small nonprofit that has been operating for 59 years, with 14 years of IRS 990 filings on record (2011–2024). Revenue has grown at a compound annual rate of 4.4%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $723K |
| Total Expenses | $645K |
| Surplus / Deficit | +$78K |
| Total Assets | $4.2M |
| Net Assets | $4.2M |
| Operating Margin | 10.7% |
| Months of Reserves | 78.2 months |
Financial Health Grade: A
In 2024, Trustees Of Merrill Memorial Library reported a surplus of $78K with revenue exceeding expenses, holds 78.2 months of operating reserves (strong position).
Financial Trends
Over 14 years of filings (2011–2024), Trustees Of Merrill Memorial Library's revenue has grown at a compound annual growth rate (CAGR) of 4.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | +28.5% | +9.3% | +1.9% |
| 2023 | -23.0% | +8.3% | -0.7% |
| 2022 | +39.0% | +0.5% | +4.7% |
| 2021 | -0.9% | +2.9% | -0.4% |
| 2020 | -1.7% | -1.9% | +0.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2300 |
| IRS Ruling Date | 1967 |
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 Trustees Of Merrill Memorial 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, Trustees Of Merrill Memorial 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 $78K, with revenue exceeding expenses.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that the organization's leadership either serves on a volunteer basis or is compensated through non-officer roles, which is highly efficient for a nonprofit of this 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 Trustees Of Merrill Memorial Library:
- Zero officer compensation reported across all filings, indicating highly efficient use of funds.
- Consistent asset growth, from $3,940,818 in 201506 to $4,205,447 in 202406, demonstrating financial stability.
- Zero liabilities reported in recent periods (e.g., 202406, 202306, 202206), indicating a healthy balance sheet.
- Revenue consistently exceeds expenses in most recent periods (e.g., $722,844 revenue vs. $645,166 expenses in 202406), showing sound financial management.
- Strong program focus implied by the lack of executive compensation and low administrative overhead.
Frequently Asked Questions about Trustees Of Merrill Memorial Library
Is Trustees Of Merrill Memorial Library a legitimate charity?
Trustees Of Merrill Memorial Library (EIN: 16012936) is a registered tax-exempt nonprofit based in Maine. Our AI analysis gives it a Mission Score of 95/100. It has 14 years of IRS 990 filings on record. Total revenue: $679K. No red flags identified. 5 strengths noted. Financial health grade: A.
How does Trustees Of Merrill Memorial Library spend its money?
Trustees Of Merrill Memorial Library directs 90% of its spending to programs and services. This exceeds the 65% industry benchmark.
Are donations to Trustees Of Merrill Memorial Library tax-deductible?
Trustees Of Merrill Memorial Library is registered as a tax-exempt nonprofit (EIN: 16012936). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Trustees Of Merrill Memorial Library located?
Trustees Of Merrill Memorial Library is headquartered in Yarmouth, Maine and files with the IRS under EIN 16012936.
How many years of IRS 990 filings does Trustees Of Merrill Memorial Library have?
Trustees Of Merrill Memorial Library has 14 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 $679K in total revenue.
Is Trustees Of Merrill Memorial Library a good charity?
Yes, based on the provided financial data, Trustees Of Merrill Memorial Library appears to be a very good charity. It demonstrates strong financial health with growing assets ($4,205,447 in 202406), efficient spending (no officer compensation), and consistent revenue generation.
How does the organization manage its expenses?
The organization consistently manages its expenses below its revenue in most periods, such as $645,166 in expenses against $722,844 in revenue for 202406. This indicates prudent financial management and an ability to operate within its means.
What is the trend in the organization's assets?
The organization's assets have shown a consistent upward trend, growing from $3,940,818 in 201506 to $4,205,447 in 202406, indicating financial stability and growth over time.
Filing History
IRS 990 filing history for Trustees Of Merrill Memorial Library showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2011–2024), Trustees Of Merrill Memorial Library's revenue has grown by 75.6%, moving from $412K to $723K. Total assets increased by 425.8% over the same period, from $800K to $4.2M. Total functional expenses rose by 54.7%, from $417K to $645K. In its most recent filing year (2024), Trustees Of Merrill Memorial Library reported a surplus of $78K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $723K | $645K | $4.2M | $0 | — | — |
| 2023 | $563K | $590K | $4.1M | $0 | — | View 990 |
| 2022 | $731K | $545K | $4.2M | $0 | — | View 990 |
| 2021 | $526K | $542K | $4.0M | $0 | — | — |
| 2020 | $531K | $527K | $4.0M | $0 | — | View 990 |
| 2019 | $540K | $537K | $4.0M | $0 | — | View 990 |
| 2018 | $537K | $501K | $4.0M | $0 | — | View 990 |
| 2017 | $555K | $549K | $3.9M | $0 | — | View 990 |
| 2016 | $607K | $457K | $3.9M | $0 | — | View 990 |
| 2015 | $2.5M | $431K | $3.9M | $154K | — | View 990 |
| 2014 | $1.4M | $420K | $2.0M | $312K | — | View 990 |
| 2013 | $423K | $470K | $736K | $0 | — | View 990 |
| 2012 | $412K | $428K | $784K | $0 | — | View 990 |
| 2011 | $412K | $417K | $800K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $723K, expenses of $645K, and assets of $4.2M (revenue +28.5% year-over-year).
- 2023: Revenue of $563K, expenses of $590K, and assets of $4.1M (revenue -23.0% year-over-year).
- 2022: Revenue of $731K, expenses of $545K, and assets of $4.2M (revenue +39.0% year-over-year).
- 2021: Revenue of $526K, expenses of $542K, and assets of $4.0M (revenue -0.9% year-over-year).
- 2020: Revenue of $531K, expenses of $527K, and assets of $4.0M (revenue -1.7% year-over-year).
- 2019: Revenue of $540K, expenses of $537K, and assets of $4.0M (revenue +0.6% year-over-year).
- 2018: Revenue of $537K, expenses of $501K, and assets of $4.0M (revenue -3.3% year-over-year).
- 2017: Revenue of $555K, expenses of $549K, and assets of $3.9M (revenue -8.6% year-over-year).
- 2016: Revenue of $607K, expenses of $457K, and assets of $3.9M (revenue -75.7% year-over-year).
- 2015: Revenue of $2.5M, expenses of $431K, and assets of $3.9M (revenue +77.7% year-over-year).
- 2014: Revenue of $1.4M, expenses of $420K, and assets of $2.0M (revenue +232.4% year-over-year).
- 2013: Revenue of $423K, expenses of $470K, and assets of $736K (revenue +2.6% year-over-year).
- 2012: Revenue of $412K, expenses of $428K, and assets of $784K (revenue +0.1% year-over-year).
- 2011: Revenue of $412K, expenses of $417K, and assets of $800K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Trustees Of Merrill Memorial Library:
Data Sources and Methodology
This transparency report for Trustees Of Merrill Memorial 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.