Hubbard Free Library

Analysis

Hubbard Free Library is a registered charity in United States, based in Hallowell, ME. It received its IRS tax-exemption ruling in September 1974, 52 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 June 2023, Hubbard Free Library reported income of $156k and spending of $175k, spending 113% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income fell from $222k to $156k (-30%), an average of -11% a year. The sharpest change came in the year to June 2022, when income rose by 46%. Over the whole period it spent 90% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Hubbard Free Library sits at the 49th percentile: it is larger than about 49% of them. Against every charity in United States with reported income it ranks in the 48th percentile, and in the 41st percentile within ME. Charities of a similar size with the same main cause include Central Texas Clean Cities ($156k), Peninsula Conservation Center Management Council ($156k) and Schoharie Free Library Association ($156k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 88% of the total. Compensation of current officers, directors and key employees was $41k (24% of expenses). Other salaries and wages came to $34k. At year end it held assets of $1.1m against liabilities of $689, net assets of $1.1m. It reported 5 employees.