Wayne Library Association

Analysis

Wayne Library Association is a registered charity in United States, based in Wayne, ME. It received its IRS tax-exemption ruling in November 1992, 34 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 September 2023, Wayne Library Association reported income of $144k and spending of $124k, spending 87% of its income. Across the 5 years on record, from September 2019 to September 2023, income fell from $159k to $144k (-9.7%), an average of -2.5% a year. The sharpest change came in the year to September 2021, when income rose by 22%. Over the whole period it spent 85% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Wayne Library Association sits at the 45th percentile: it is larger than about 45% of them. Against every charity in United States with reported income it ranks in the 46th percentile, and in the 40th percentile within ME. Charities of a similar size with the same main cause include Man-Of-Honor Society Inc ($144k), Rye Police Association of the City of Rye Inc ($144k) and Custer Institute Inc ($144k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 45% and program service revenue 0.1% of the total. Compensation of current officers, directors and key employees was $23k (18% of expenses). Other salaries and wages came to $1,925. At year end it held assets of $1.6m against liabilities of $3,585, net assets of $1.6m. It reported 2 employees.