Steep Falls Library

Analysis

Steep Falls Library is a registered charity in United States, based in Steep Falls, ME. It received its IRS tax-exemption ruling in August 1990, 36 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 2024, Steep Falls Library reported income of $60k and spending of $64k, spending 105% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $46k to $60k (+31%), an average of +6.9% a year. The sharpest change came in the year to June 2024, when income rose by 74%. Over the whole period it spent 110% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Steep Falls Library sits at the 26th percentile: it is larger than about 26% of them. Against every charity in United States with reported income it ranks in the 24th percentile, and in the 17th percentile within ME. Charities of a similar size with the same main cause include Statesboro Quarterbak Club Inc ($60k), Princeton Elementary School PTO ($60k) and The Parent Teacher Council of Stamford ($60k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 57% of the total. Other salaries and wages came to $28k. At year end it held assets of $639k against liabilities of $217k, net assets of $422k. It reported 1 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.