Louis T Graves Memorial Public Library Association

Analysis

Louis T Graves Memorial Public Library Association is a registered charity in United States, based in Kennebunkport, ME. It received its IRS tax-exemption ruling in December 1942, 84 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, Louis T Graves Memorial Public Library Association reported income of $596k and spending of $520k, spending 87% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $416k to $596k (+43%), an average of +9.4% a year. The sharpest change came in the year to December 2020, when income rose by 89%. Over the whole period it spent 76% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Louis T Graves Memorial Public Library Association sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 69th percentile within ME. Charities of a similar size with the same main cause include Leadership Triangle Inc ($596k), Lake School Corporation ($596k) and Central Christian Academy Inc ($596k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 61% of the total. Other salaries and wages came to $254k. At year end it held assets of $4.5m against liabilities of $30k, net assets of $4.4m. It reported 9 employees.