Waldoboro Public Library

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Waldoboro Public Library Form 990, Revenue, CEO Pay, and IRS Filing Signals

Waldoboro Public Library is surfaced here as a decision-ready nonprofit financial profile, not just a charity listing. The page consolidates IRS Form 990 revenue, expenses, assets, tax-exempt classification, executive compensation, mission score, red flags, and year-by-year filing history so donors, researchers, journalists, and grant teams can answer the common search questions around Waldoboro Public Library in one place.

Is Waldoboro Public Library Legit?

Appears Legitimate

Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →

IRS 990 Data Cockpit

Where the Money Comes From and Where It Goes

Across stored filings, Waldoboro Public Library shows contribution history pending. Next enrichment targets: revenue-source fields, IRS BMF classification.

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

About Waldoboro Public Library

Waldoboro Public Library (EIN: 10329748) is a nonprofit organization based in Waldoboro, ME, classified under NTEE code B71Z. The organization reported total revenue of $283K and total assets of $1.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Waldoboro Public Library's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

Organization Overview

Waldoboro Public Library is a small nonprofit that has been operating for 38 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 5.8%.

Key Financial Metrics (2023)

From the most recent IRS 990 filing on record:

Financial Health Grade: A

In 2023, Waldoboro Public Library reported a surplus of $119K with revenue exceeding expenses, holds 102.4 months of operating reserves (strong position), has a debt-to-asset ratio of 0.1% (very low leverage).

Financial Trends

Over 13 years of filings (2011–2023), Waldoboro Public Library's revenue has grown at a compound annual growth rate (CAGR) of 5.8%.

IRS Tax-Exempt Classification

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 Waldoboro Public Library 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, Waldoboro Public 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 (2023)

From the most recent IRS 990 filing on record:

• The organization reported a surplus of $119K, with revenue exceeding expenses.
• Debt-to-asset ratio: 0.1%.

Executive Compensation Analysis

Executive compensation is reported as 0% across all available filings, suggesting that leadership roles may be volunteer-based or compensated through non-officer categories, which contributes to very low administrative overhead for the organization.

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 Waldoboro Public Library:

• Strong asset base relative to expenses ($1,531,555 assets vs. $179,517 expenses in 202312).
• Consistent financial stability with expenses generally well below revenue.
• No reported officer compensation, indicating efficient use of funds for mission-related activities.
• Very low liabilities ($2,054 in 202312), suggesting excellent financial management.
• Consistent IRS 990 filings over 13 periods, demonstrating strong transparency.

Frequently Asked Questions about Waldoboro Public Library

Filing History

IRS 990 filing history for Waldoboro Public Library showing financial trends over 13 years of public records:

Over 13 years of IRS 990 filings (2011–2023), Waldoboro Public Library's revenue has grown by 95.6%, moving from $153K to $298K. Total assets increased by 42% over the same period, from $1.1M to $1.5M. Total functional expenses rose by 11.5%, from $161K to $180K. In its most recent filing year (2023), Waldoboro Public Library reported a surplus of $119K, with revenue exceeding expenses. The organization holds $2K in liabilities against $1.5M in assets (debt-to-asset ratio: 0.1%), resulting in net assets of $1.5M.

Year-by-Year Financial Summary

• 2023: Revenue of $298K, expenses of $180K, and assets of $1.5M (revenue +2126.1% year-over-year).
• 2022: Revenue of $13K, expenses of $176K, and assets of $1.4M (revenue -95.8% year-over-year).
• 2021: Revenue of $316K, expenses of $160K, and assets of $1.6M (revenue +21.4% year-over-year).
• 2020: Revenue of $260K, expenses of $157K, and assets of $1.4M (revenue -11.1% year-over-year).
• 2019: Revenue of $293K, expenses of $167K, and assets of $1.3M (revenue +204.2% year-over-year).
• 2018: Revenue of $96K, expenses of $163K, and assets of $1.2M (revenue -55.5% year-over-year).
• 2017: Revenue of $216K, expenses of $157K, and assets of $1.3M (revenue +32.4% year-over-year).
• 2016: Revenue of $163K, expenses of $152K, and assets of $1.2M (revenue +14.6% year-over-year).
• 2015: Revenue of $143K, expenses of $155K, and assets of $1.2M (revenue -1.0% year-over-year).
• 2014: Revenue of $144K, expenses of $155K, and assets of $1.2M (revenue -14.8% year-over-year).
• 2013: Revenue of $169K, expenses of $146K, and assets of $1.2M (revenue -3.9% year-over-year).
• 2012: Revenue of $176K, expenses of $146K, and assets of $1.1M (revenue +15.3% year-over-year).
• 2011: Revenue of $153K, expenses of $161K, and assets of $1.1M.

View Individual Filing Years

Explore detailed financial data from each IRS 990 filing year for Waldoboro Public Library:

Data Sources and Methodology

This transparency report for Waldoboro 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.