Jesup Memorial Library

Analysis

Jesup Memorial Library is a registered charity in United States, based in Bar Harbor, ME. It received its IRS tax-exemption ruling in August 1945, 81 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 December 2022, Jesup Memorial Library reported income of $6.4m and spending of $872k, leaving 86% of income unspent that year. Across the 4 years on record, from December 2019 to December 2022, income grew from $1.4m to $6.4m (+358%), an average of +66% a year. The sharpest change came in the year to December 2022, when income rose by 174%. Over the whole period it spent 26% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Jesup Memorial Library sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 93rd percentile within ME. Charities of a similar size with the same main cause include Beit Rabban Day School ($6.4m), Itineris Inc ($6.4m) and Cicero Preparatory Academy ($6.4m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 98% and program service revenue 0.0% of the total. Other salaries and wages came to $461k. It paid $95k in professional fundraising fees. At year end it held assets of $13.7m against liabilities of $50k, net assets of $13.6m. It reported 15 employees.