Waldoboro Public Library

Analysis

Waldoboro Public Library is a registered charity in United States, based in Waldoboro, ME. It received its IRS tax-exemption ruling in August 1988, 38 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, Waldoboro Public Library reported income of $298k and spending of $180k, leaving 40% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $293k to $298k (+1.8%), an average of +0.5% a year. The sharpest change came in the year to December 2023, when income rose by 2126%. Over the whole period it spent 71% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Waldoboro Public Library sits at the 61st percentile: it is larger than about 61% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 56th percentile within ME. Charities of a similar size with the same main cause include Kua O Kanaueue ($298k), Justice & Soul Foundation ($298k) and Joy Education Foundation ($298k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 47% and program service revenue 0.9% of the total. Compensation of current officers, directors and key employees was $42k (24% of expenses). Other salaries and wages came to $59k. At year end it held assets of $1.5m against liabilities of $2,054, net assets of $1.5m. It reported 7 employees.