Southwest Harbor Public Library

Analysis

Southwest Harbor Public Library is a registered charity in United States, based in Southwest HBR, ME. It received its IRS tax-exemption ruling in July 1943, 83 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 December 2023, Southwest Harbor Public Library reported income of $983k and spending of $655k, leaving 33% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $616k to $983k (+60%), an average of +12% a year. The sharpest change came in the year to December 2022, when income rose by 85%. Over the whole period it spent 60% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Southwest Harbor Public Library sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 76th percentile within ME. Charities of a similar size with the same main cause include Chi Omega Education and Charity Fund of Dallas ($983k), Literacy Volunteers of Greater Hartford ($984k) and Eagle River Recreation Association Inc ($983k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 63% and program service revenue 0.4% of the total. Other salaries and wages came to $310k. At year end it held assets of $6.4m against liabilities of $20k, net assets of $6.4m. It reported 12 employees.