Belfast Free Library

Analysis

Belfast Free Library is a registered charity in United States, based in Belfast, ME. It received its IRS tax-exemption ruling in March 1991, 35 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, Belfast Free Library reported income of $327k and spending of $197k, leaving 40% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $120k to $327k (+173%), an average of +28% a year. The sharpest change came in the year to June 2023, when income rose by 464%. Over the whole period it spent 101% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Belfast Free Library sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 58th percentile within ME. Charities of a similar size with the same main cause include Kate Duncan Smith Dar School ($327k), Gateway Preschool Academy ($327k) and Sphinx Academy Inc ($327k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 66% and program service revenue 6.3% of the total. At year end it held assets of $2.1m against liabilities of $16k, net assets of $2.1m.