Trustees of Merrill Memorial Library

Analysis

Trustees of Merrill Memorial Library is a registered charity in United States, based in Yarmouth, ME. It received its IRS tax-exemption ruling in January 1967, 59 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 2024, Trustees of Merrill Memorial Library reported income of $723k and spending of $645k, spending 89% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $540k to $723k (+34%), an average of +6.0% a year. The sharpest change came in the year to June 2022, when income rose by 39%. Over the whole period it spent 94% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Trustees of Merrill Memorial Library sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 71st percentile within ME. Charities of a similar size with the same main cause include Association of Fundraising Professionals ($723k), J C C Fund ($723k) and CPC Foundation Inc ($723k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 85% and program service revenue 1.3% of the total. Other salaries and wages came to $461k. At year end it held assets of $4.2m against liabilities of $0, net assets of $4.2m.