Peabody Memorial Library

Analysis

Peabody Memorial Library is a registered charity in United States, based in Jonesport, ME. It received its IRS tax-exemption ruling in April 1973, 53 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, Peabody Memorial Library reported income of $77k and spending of $56k, leaving 27% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $40k to $77k (+91%), an average of +18% a year. The sharpest change came in the year to December 2023, when income rose by 44%. Over the whole period it spent 98% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Peabody Memorial Library sits at the 30th percentile: it is larger than about 30% of them. Against every charity in United States with reported income it ranks in the 30th percentile, and in the 23rd percentile within ME. Charities of a similar size with the same main cause include Old Town Arts and Crafts Guild Inc ($77k), Psi Iota XI Charities Inc ($77k) and Northeastern Michigan Osteopathic Association Inc ($77k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $23k (40% of expenses). At year end it held assets of $618k against liabilities of $0, net assets of $618k. It reported 1 employees.