Friend Memorial Public Library Inc

Analysis

Friend Memorial Public Library Inc is a registered charity in United States, based in Brooklin, ME. It received its IRS tax-exemption ruling in March 1956, 70 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 2023, Friend Memorial Public Library Inc reported income of $433k and spending of $319k, leaving 26% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $163k to $433k (+166%), an average of +28% a year. The sharpest change came in the year to December 2023, when income rose by 168%. Over the whole period it spent 72% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Friend Memorial Public Library Inc sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 63rd percentile within ME. Charities of a similar size with the same main cause include Chesterton Academy of the Sacred Heart NFP Inc ($433k), Sil Lead Inc ($433k) and Ascension Academy Inc ($433k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 88% and program service revenue 0.4% of the total. Other salaries and wages came to $96k. It paid $102k in professional fundraising fees. At year end it held assets of $3.2m against liabilities of $76k, net assets of $3.2m. It reported 6 employees.