Wiscasset Public Library
Wiscasset Public Library maintains strong assets and low liabilities with no reported officer compensation.
EIN: 10249865 · Wiscasset, ME · NTEE: B71Z · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $507K |
| Total Expenses | $276K |
| Program Spending | 90% |
| Net Assets | $3.4M |
| Transparency Score | 95/100 |
Is Wiscasset Public Library Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Wiscasset Public Library directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Wiscasset Public Library
Wiscasset Public Library (EIN: 10249865) is a nonprofit organization based in Wiscasset, ME, classified under NTEE code B71Z. The organization reported total revenue of $507K and total assets of $3.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Wiscasset Public Library's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Wiscasset Public Library is a small nonprofit that has been operating for 67 years, with 12 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 14.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $510K |
| Total Expenses | $276K |
| Surplus / Deficit | +$234K |
| Total Assets | $3.4M |
| Net Assets | $3.4M |
| Operating Margin | 45.9% |
| Months of Reserves | 149.8 months |
Financial Health Grade: A
In 2023, Wiscasset Public Library reported a surplus of $234K with revenue exceeding expenses, holds 149.8 months of operating reserves (strong position).
Financial Trends
Over 12 years of filings (2011–2023), Wiscasset Public Library's revenue has grown at a compound annual growth rate (CAGR) of 14.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +112.6% | +1.0% | +9.8% |
| 2022 | -32.9% | -16.4% | -14.5% |
| 2021 | +4.3% | +28.5% | +14.0% |
| 2020 | -17.3% | +5.9% | +14.5% |
| 2019 | +200.4% | +19.4% | +12.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1959 |
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 Wiscasset Public 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, Wiscasset 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 $234K, with revenue exceeding expenses.
Executive Compensation Analysis
No officer compensation has been reported in any of the available filings, indicating that the organization's leadership is likely volunteer-based or compensated through other means not classified as officer compensation, which is highly favorable for a nonprofit of its 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 Wiscasset Public Library:
- Consistent asset growth, reaching $3,441,165 in 2023.
- Zero reported officer compensation across all filings, indicating high efficiency and volunteer leadership.
- Very low to zero liabilities, demonstrating strong financial health and minimal debt.
- Expenses consistently well below revenue in most periods, leading to healthy surpluses.
- Clear alignment between organization name, NTEE code (B71Z - Libraries), and mission.
Frequently Asked Questions about Wiscasset Public Library
Is Wiscasset Public Library a legitimate charity?
Based on AI analysis of IRS 990 filings, Wiscasset Public Library (EIN: 10249865) appears legitimate. Mission Score: 95/100. 0 red flags identified, 5 strengths noted.
How does Wiscasset Public Library spend its money?
Wiscasset Public Library directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Wiscasset Public Library tax-deductible?
Wiscasset Public Library is registered as a tax-exempt nonprofit (EIN: 10249865). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Wiscasset Public Library compare to similar nonprofits?
With a transparency score of 95/100 (Excellent), Wiscasset Public Library is above average for NTEE category B71Z nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Wiscasset Public Library located?
Wiscasset Public Library is headquartered in Wiscasset, Maine and files with the IRS under EIN 10249865. It is classified under NTEE code B71Z.
How many years of IRS 990 filings does Wiscasset Public Library have?
Wiscasset Public Library has 12 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 $507K in total revenue.
Is Wiscasset Public Library a good charity?
Based on its financial data, Wiscasset Public Library appears to be a very good charity. It consistently maintains strong assets, low liabilities, and reports no officer compensation, indicating efficient use of funds and a strong commitment to its mission.
How does the library manage its expenses?
The library manages its expenses effectively, with expenses consistently lower than revenue in most years (e.g., $275,731 in expenses vs. $510,089 in revenue in 2023), leading to healthy surpluses and asset growth.
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 $2,020,746 in 2013 to $3,441,165 in 2023, demonstrating strong financial stewardship and growth.
Filing History
IRS 990 filing history for Wiscasset Public Library showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2011–2023), Wiscasset Public Library's revenue has grown by 394.5%, moving from $103K to $510K. Total assets increased by 99.6% over the same period, from $1.7M to $3.4M. Total functional expenses rose by 64.7%, from $167K to $276K. In its most recent filing year (2023), Wiscasset Public Library reported a surplus of $234K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $510K | $276K | $3.4M | $0 | — | — |
| 2022 | $240K | $273K | $3.1M | $32K | — | — |
| 2021 | $358K | $327K | $3.7M | $2K | — | View 990 |
| 2020 | $343K | $254K | $3.2M | $5K | — | — |
| 2019 | $415K | $240K | $2.8M | $0 | — | View 990 |
| 2018 | $138K | $201K | $2.5M | $0 | — | View 990 |
| 2016 | $886K | $204K | $2.5M | $0 | — | View 990 |
| 2015 | $354K | $208K | $2.1M | $0 | — | View 990 |
| 2014 | $160K | $179K | $2.0M | $0 | — | View 990 |
| 2013 | $347K | $174K | $2.0M | $0 | — | View 990 |
| 2012 | $299K | $175K | $1.8M | $31 | — | View 990 |
| 2011 | $103K | $167K | $1.7M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $510K, expenses of $276K, and assets of $3.4M (revenue +112.6% year-over-year).
- 2022: Revenue of $240K, expenses of $273K, and assets of $3.1M (revenue -32.9% year-over-year).
- 2021: Revenue of $358K, expenses of $327K, and assets of $3.7M (revenue +4.3% year-over-year).
- 2020: Revenue of $343K, expenses of $254K, and assets of $3.2M (revenue -17.3% year-over-year).
- 2019: Revenue of $415K, expenses of $240K, and assets of $2.8M (revenue +200.4% year-over-year).
- 2018: Revenue of $138K, expenses of $201K, and assets of $2.5M (revenue -84.4% year-over-year).
- 2016: Revenue of $886K, expenses of $204K, and assets of $2.5M (revenue +150.4% year-over-year).
- 2015: Revenue of $354K, expenses of $208K, and assets of $2.1M (revenue +121.3% year-over-year).
- 2014: Revenue of $160K, expenses of $179K, and assets of $2.0M (revenue -53.9% year-over-year).
- 2013: Revenue of $347K, expenses of $174K, and assets of $2.0M (revenue +16.0% year-over-year).
- 2012: Revenue of $299K, expenses of $175K, and assets of $1.8M (revenue +190.2% year-over-year).
- 2011: Revenue of $103K, expenses of $167K, and assets of $1.7M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Wiscasset Public Library:
Data Sources and Methodology
This transparency report for Wiscasset 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.