Goodrich Memorial Library Inc

Analysis

Goodrich Memorial Library Inc is a registered charity in United States, based in Newport, VT. It received its IRS tax-exemption ruling in April 2002, 24 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. 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 December 2023, Goodrich Memorial Library Inc reported income of $194k and spending of $214k, spending 110% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $215k to $194k (-10.0%), an average of -2.6% a year. Over the whole period it spent 91% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Goodrich Memorial Library Inc sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 53rd percentile, and in the 44th percentile within VT. Charities of a similar size with the same main cause include Little Heroes Baseball Field Foundation ($194k), Little League Baseball Inc ($194k) and Little League Baseball Inc ($194k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $38k (18% of expenses). Other salaries and wages came to $86k. At year end it held assets of $2.3m against liabilities of $2,520, net assets of $2.3m. It reported 11 employees.