Springvale Public Library Association

Analysis

Springvale Public Library Association is a registered charity in United States, based in Springvale, ME. It received its IRS tax-exemption ruling in November 1994, 32 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 2024, Springvale Public Library Association reported income of $273k and spending of $335k, spending 123% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income grew from $263k to $273k (+3.7%), an average of +0.7% a year. The sharpest change came in the year to June 2021, when income rose by 30%. Over the whole period it spent 126% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Springvale Public Library Association sits at the 58th percentile: it is larger than about 58% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 54th percentile within ME. Charities of a similar size with the same main cause include Putnam History Museum ($273k), Combined Guardians Inc ($273k) and Fireweed Housing Development Inc ($272k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 71% and program service revenue 3.5% of the total. Compensation of current officers, directors and key employees was $53k (16% of expenses). Other salaries and wages came to $133k. At year end it held assets of $4.7m against liabilities of $30k, net assets of $4.7m. It reported 10 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.