Portland Public Library

Analysis

Portland Public Library is a registered charity in United States, based in Portland, ME. It received its IRS tax-exemption ruling in January 1943, 83 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, Portland Public Library reported income of $6.0m and spending of $5.6m, spending 94% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $5.5m to $6.0m (+7.7%), an average of +1.9% a year. The sharpest change came in the year to June 2022, when income rose by 88%. Over the whole period it spent 86% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Portland Public Library sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 92nd percentile within ME. Charities of a similar size with the same main cause include Stonebridge School ($6.0m), School of Government Services ($6.0m) and Legacy Fund ($6.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 97% and program service revenue 0.4% of the total. Compensation of current officers, directors and key employees was $82k (1.5% of expenses). Other salaries and wages came to $3.0m. At year end it held assets of $15.1m against liabilities of $1.1m, net assets of $14.1m. It reported 100 employees.