Sanford Library Association

Analysis

Sanford Library Association is a registered charity in United States, based in Sanford, ME. It received its IRS tax-exemption ruling in April 1987, 39 years ago. 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, Sanford Library Association reported income of $1.1m and spending of $607k, leaving 43% of income unspent that year. Across the 4 years on record, from June 2020 to June 2023, income grew from $529k to $1.1m (+100%), an average of +26% a year. The sharpest change came in the year to June 2022, when income rose by 65%. Over the whole period it spent 72% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Sanford Library Association 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 80th percentile, and in the 77th percentile within ME. Charities of a similar size with the same main cause include Palo Alto Players-Peninsula Center Stage ($1.1m), G I S Housing Inc ($1.1m) and Center for a Healthy Maryland Inc ($1.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 93% and program service revenue 0.9% of the total. Compensation of current officers, directors and key employees was $66k (11% of expenses). At year end it held assets of $2.8m against liabilities of $19k, net assets of $2.8m. It reported 11 employees.