Jackson Memorial Library

Analysis

Jackson Memorial Library is a registered charity in United States, based in Tenants HBR, ME. It received its IRS tax-exemption ruling in March 1982, 44 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, Jackson Memorial Library reported income of $215k and spending of $265k, spending 123% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $297k to $215k (-28%), an average of -7.8% a year. The sharpest change came in the year to December 2021, when income dropped by 34%. Over the whole period it spent 104% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Jackson Memorial Library sits at the 54th percentile: it is larger than about 54% of them. Against every charity in United States with reported income it ranks in the 55th percentile, and in the 48th percentile within ME. Charities of a similar size with the same main cause include American Waldensian Aid Society ($215k), Little League Baseball Inc ($215k) and Transformations by Austin Angels ($215k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 73% and program service revenue 1.2% of the total. Other salaries and wages came to $80k. At year end it held assets of $3.8m against liabilities of $11k, net assets of $3.8m. It reported 6 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.