Bangor Public Library Trustees

Analysis

Bangor Public Library Trustees is a registered charity in United States, based in Bangor, ME. It received its IRS tax-exemption ruling in November 1944, 82 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 June 2023, Bangor Public Library Trustees reported income of $3.2m and spending of $3.4m, spending 108% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.9m to $3.2m (+66%), an average of +14% a year. The sharpest change came in the year to June 2022, when income rose by 34%. Over the whole period it spent 114% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Bangor Public Library Trustees sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 88th percentile within ME. Charities of a similar size with the same main cause include Chiniligi Alchini Idahoolaa Inc ($3.2m), Eastern Nebraska Community Action Partnership ($3.2m) and Jewish Community Alliance of Northeastern Pa ($3.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 84% and program service revenue 0.5% of the total. Compensation of current officers, directors and key employees was $103k (3.0% of expenses). Other salaries and wages came to $1.5m. At year end it held assets of $24.1m against liabilities of $302k, net assets of $23.8m. It reported 37 employees.