Patten Free Library

Analysis

Patten Free Library is a registered charity in United States, based in Bath, ME. It received its IRS tax-exemption ruling in June 1934, 92 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Patten Free Library reported income of $1.3m and spending of $1.1m, spending 81% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $1.2m to $1.3m (+10%), an average of +3.3% a year. Over the whole period it spent 77% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Patten Free Library sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 79th percentile within ME. Charities of a similar size with the same main cause include Alta Public Schools Foundation ($1.3m), Wor-Wic Community College Foundation ($1.3m) and The Village Charter School Inc ($1.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 43% and program service revenue 4.8% of the total. Compensation of current officers, directors and key employees was $82k (7.7% of expenses). Other salaries and wages came to $443k. At year end it held assets of $10.9m against liabilities of $31k, net assets of $10.9m. It reported 28 employees.