Community Library

Analysis

Community Library is a registered charity in United States, based in Lyman, ME. It received its IRS tax-exemption ruling in November 1996, 30 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, Community Library reported income of $168k and spending of $135k, leaving 20% of income unspent that year. Across the 2 years on record, from June 2023 to June 2024, income grew from $150k to $168k (+12%), an average of +12% a year. Over the whole period it spent 87% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Community Library sits at the 51st percentile: it is larger than about 51% of them. Against every charity in United States with reported income it ranks in the 50th percentile, and in the 43rd percentile within ME. Charities of a similar size with the same main cause include Parent-Teacher Organization of Nolensville Elementary ($168k), Glen Ridge Home & School Association Executive Council ($168k) and Bridge Year Educational Services Inc ($168k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 96% and program service revenue 3.1% of the total. Compensation of current officers, directors and key employees was $64k (48% of expenses). At year end it held assets of $506k against liabilities of $0, net assets of $506k. It reported 6 employees.