Martha Canfield Memorial Free Library Inc

Analysis

Martha Canfield Memorial Free Library Inc is a registered charity in United States, based in Arlington, VT. It received its IRS tax-exemption ruling in April 1961, 65 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Martha Canfield Memorial Free Library Inc reported income of $145k and spending of $144k, spending 99% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $167k to $145k (-13%), an average of -3.5% a year. The sharpest change came in the year to December 2021, when income rose by 46%. Over the whole period it spent 81% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Martha Canfield Memorial Free Library Inc 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 36th percentile within VT. Charities of a similar size with the same main cause include Little League Baseball Inc ($145k), Volunteers of America Inc ($145k) and Liberty Mountain Racing Team Inc ($145k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 70% and program service revenue 7.8% of the total. Other salaries and wages came to $58k. At year end it held assets of $2.8m against liabilities of $4,928, net assets of $2.8m. It reported 3 employees.