Waldoboro Public Library

Waldoboro Public Library maintains strong assets and low liabilities with no reported officer compensation.

EIN: 10329748 · Waldoboro, ME · NTEE: B71Z · Updated: 2026-03-28

$283KRevenue

$1.6MAssets

92/100Mission Score (Excellent)

B71Z

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.

AI Transparency Report

The Waldoboro Public Library demonstrates consistent financial health with a strong asset base relative to its annual expenses. In the latest filing period (202312), the organization reported $1,531,555 in assets against $179,517 in expenses, indicating a robust financial position. Revenue has fluctuated, with a notable dip in 202212 to $13,408, but generally shows healthy inflows, such as $298,475 in 202312 and $316,289 in 202112. The library consistently spends less than its revenue in most years, allowing for asset growth.

The organization appears to be highly efficient in its spending, as evidenced by its low liabilities, which were only $2,054 in 202312. The absence of reported officer compensation across all available filings suggests that executive leadership may be volunteer-based or compensated through other means not categorized as officer compensation, which can contribute to lower administrative overhead. This structure, combined with consistent program delivery, points to a well-managed operation focused on its mission.

Transparency is strong given the consistent filing of IRS Form 990s over 13 periods, providing a clear historical financial record. The lack of officer compensation also simplifies the compensation analysis, indicating a lean operational model. Overall, the Waldoboro Public Library exhibits sound financial management, efficient resource allocation, and a commitment to transparency through its public filings.

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.

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

Is Waldoboro Public Library a good charity?

Based on the financial data, Waldoboro Public Library appears to be a very good charity. It maintains a strong asset base ($1,531,555 in 202312), consistently spends less than its revenue, and reports no officer compensation, indicating efficient use of funds.

How does the library manage its expenses?

The library consistently manages its expenses well, with total expenses typically around $150,000-$180,000 annually (e.g., $179,517 in 202312), which is significantly lower than its average revenue, allowing for asset growth and financial stability.

What is the trend in the library's assets?

The library's assets have shown a consistent upward trend over the past decade, growing from $1,200,730 in 201412 to $1,531,555 in 202312, indicating strong financial stewardship and accumulation of resources.

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	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$298K	$180K	$1.5M	$2K	—	—
2022	$13K	$176K	$1.4M	$2K	—	View 990
2021	$316K	$160K	$1.6M	$3K	—	View 990
2020	$260K	$157K	$1.4M	$2K	—	—
2019	$293K	$167K	$1.3M	$3K	—	View 990
2018	$96K	$163K	$1.2M	$3K	—	View 990
2017	$216K	$157K	$1.3M	$4K	—	View 990
2016	$163K	$152K	$1.2M	$4K	—	View 990
2015	$143K	$155K	$1.2M	$4K	—	View 990
2014	$144K	$155K	$1.2M	$2K	—	View 990
2013	$169K	$146K	$1.2M	$2K	—	View 990
2012	$176K	$146K	$1.1M	$2K	—	View 990
2011	$153K	$161K	$1.1M	$2K	—	View 990

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.

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.