Boothbay Harbor Memorial Library Association

Analysis

Boothbay Harbor Memorial Library Association is a registered charity in United States, based in Boothbay HBR, ME. It received its IRS tax-exemption ruling in December 1966, 60 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, Boothbay Harbor Memorial Library Association reported income of $485k and spending of $440k, spending 91% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $372k to $485k (+30%), an average of +6.9% a year. The sharpest change came in the year to December 2021, when income rose by 29%. Over the whole period it spent 89% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Boothbay Harbor Memorial Library Association sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 66th percentile within ME. Charities of a similar size with the same main cause include Riverside Center for Imaginative Learning NFP ($485k), Wildflower Foundation ($485k) and Anoka Ramsey Community College Foundation ($485k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 82% and program service revenue 2.4% of the total. Compensation of current officers, directors and key employees was $71k (16% of expenses). Other salaries and wages came to $124k. It paid $12k in professional fundraising fees. At year end it held assets of $2.7m against liabilities of $2,640, net assets of $2.7m. It reported 7 employees.