Rangeley Library Association

Analysis

Rangeley Library Association is a registered charity in United States, based in Rangeley, ME. It received its IRS tax-exemption ruling in June 1959, 67 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2022, Rangeley Library Association reported income of $158k and spending of $203k, spending 128% of what it took in. Across the 4 years on record, from June 2019 to June 2022, income fell from $214k to $158k (-26%), an average of -9.5% a year. Over the whole period it spent 104% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Rangeley Library Association sits at the 50th percentile: it is larger than about 50% of them. Against every charity in United States with reported income it ranks in the 48th percentile, and in the 42nd percentile within ME. Charities of a similar size with the same main cause include SC Technology Center Inc ($158k), Withrow Alumni Inc ($158k) and Harrison High School Lacrosse Booster Club Inc ($158k).

On its Form 990 for the period ending June 2022, revenue came from contributions and grants 83% of the total. Compensation of current officers, directors and key employees was $9,880 (4.9% of expenses). Other salaries and wages came to $81k. At year end it held assets of $1.7m against liabilities of $49k, net assets of $1.6m. It reported 6 employees.