Walker Memorial Library Trust
Walker Memorial Library Trust maintains strong asset growth with minimal expenses and no executive compensation.
EIN: 10460437 · Westbrook, ME · NTEE: B11 · Updated: 2026-03-28
Is Walker Memorial Library Trust Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Walker Memorial Library Trust directs 95% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Walker Memorial Library Trust
Walker Memorial Library Trust (EIN: 10460437) is a nonprofit organization based in Westbrook, ME, classified under NTEE code B11. The organization reported total revenue of $5K and total assets of $126K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Walker Memorial Library Trust's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Walker Memorial Library Trust 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: 5%
- programs: 95%
- fundraising: 0%
According to IRS 990 filings, Walker Memorial Library Trust allocates its expenses as follows: admin: 5%, programs: 95%, fundraising: 0%. With 95% directed toward programs, this reflects a strong commitment to its charitable mission.
Executive Compensation Analysis
The organization reports 0% officer compensation across all available filings, indicating that no executive salaries are paid, which is highly efficient for a trust 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 Walker Memorial Library Trust:
- Consistent asset growth (from $30,409 in 2011 to $126,448 in 2023)
- Extremely low operating expenses (e.g., $1,386 in 2023 against $5,408 revenue)
- 0% officer compensation reported across all filings
- No reported liabilities, indicating strong financial health
- Consistent IRS 990 filing history demonstrating transparency
Frequently Asked Questions about Walker Memorial Library Trust
Is Walker Memorial Library Trust a legitimate charity?
Based on AI analysis of IRS 990 filings, Walker Memorial Library Trust (EIN: 10460437) appears legitimate. Mission Score: 90/100. 0 red flags identified, 5 strengths noted.
How does Walker Memorial Library Trust spend its money?
Walker Memorial Library Trust directs 95% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Walker Memorial Library Trust tax-deductible?
Walker Memorial Library Trust is registered as a tax-exempt nonprofit (EIN: 10460437). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Walker Memorial Library Trust a good charity?
Yes, the Walker Memorial Library Trust appears to be a very good charity, especially for its specific purpose. It demonstrates excellent financial health, consistent asset growth, and extremely low overhead, with 0% officer compensation reported across all filings. Its primary function seems to be to grow and manage an endowment to support the library, which it does efficiently.
How does the trust manage its expenses?
The trust manages its expenses exceptionally well, often reporting very low or zero expenses in several periods (e.g., $0 in 2019 and 2020). In 2023, expenses were only $1,386 against $5,408 in revenue, indicating a highly cost-effective operation.
What is the trend in the trust's assets?
The trust shows a strong upward trend in assets, growing from $30,409 in 2011 to $126,448 in 2023. This indicates effective long-term financial management and growth of its endowment.
Does the trust have any liabilities?
No, the Walker Memorial Library Trust consistently reports $0 in liabilities across all available filing periods, indicating a very strong and unencumbered financial position.
Filing History
IRS 990 filing history for Walker Memorial Library Trust showing financial trends over 11 years of public records:
Over 11 years of IRS 990 filings (2010–2023), Walker Memorial Library Trust's revenue has grown by 267.6%, moving from $1K to $5K. Total assets increased by 310% over the same period, from $31K to $126K. Total functional expenses rose by 273.6%, from $371 to $1K. In its most recent filing year (2023), Walker Memorial Library Trust reported a surplus of $4K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $5K | $1K | $126K | $0 | — | View 990 |
| 2022 | $3K | $5K | $109K | $0 | — | View 990 |
| 2021 | $9K | $3K | $132K | $0 | — | View 990 |
| 2020 | $4K | $0 | $121K | $0 | — | — |
| 2019 | $3K | $0 | $109K | $0 | — | View 990 |
| 2018 | $6K | $2K | $93K | $0 | — | View 990 |
| 2017 | $5K | $1K | $100K | $0 | — | View 990 |
| 2013 | $2K | $2K | $36K | $0 | — | View 990 |
| 2012 | $1K | $3K | $31K | $0 | — | View 990 |
| 2011 | $1K | $458 | $30K | $0 | — | View 990 |
| 2010 | $1K | $371 | $31K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $5K, expenses of $1K, and assets of $126K (revenue +73.6% year-over-year).
- 2022: Revenue of $3K, expenses of $5K, and assets of $109K (revenue -66.3% year-over-year).
- 2021: Revenue of $9K, expenses of $3K, and assets of $132K (revenue +140.6% year-over-year).
- 2020: Revenue of $4K, expenses of $0, and assets of $121K (revenue +18.6% year-over-year).
- 2019: Revenue of $3K, expenses of $0, and assets of $109K (revenue -43.5% year-over-year).
- 2018: Revenue of $6K, expenses of $2K, and assets of $93K (revenue +5.1% year-over-year).
- 2017: Revenue of $5K, expenses of $1K, and assets of $100K (revenue +161.4% year-over-year).
- 2013: Revenue of $2K, expenses of $2K, and assets of $36K (revenue +58.3% year-over-year).
- 2012: Revenue of $1K, expenses of $3K, and assets of $31K (revenue -3.9% year-over-year).
- 2011: Revenue of $1K, expenses of $458, and assets of $30K (revenue -6.6% year-over-year).
- 2010: Revenue of $1K, expenses of $371, and assets of $31K.
Data Sources and Methodology
This transparency report for Walker Memorial Library Trust 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.