Morrill Memorial Library

Analysis

Morrill Memorial Library is a registered charity in United States, based in Strafford, VT. It received its IRS tax-exemption ruling in November 1964, 62 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, Morrill Memorial Library reported income of $72k and spending of $66k, spending 91% of its income. Across the 4 years on record, from December 2020 to December 2023, income fell from $77k to $72k (-6.1%), an average of -2.1% a year. The sharpest change came in the year to December 2022, when income rose by 102%. Over the whole period it spent 69% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Morrill Memorial Library sits at the 28th percentile: it is larger than about 28% of them. Against every charity in United States with reported income it ranks in the 28th percentile, and in the 19th percentile within VT. Charities of a similar size with the same main cause include Beaver Valley Senior Center Incorporated ($72k), Echn Community Healthcare Foundation Inc ($72k) and Menomonee Falls Scholarship and Educational Foundation ($72k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 71% and program service revenue 1.5% of the total. Compensation of current officers, directors and key employees was $32k (48% of expenses). Other salaries and wages came to $3,152. At year end it held assets of $828k against liabilities of $0, net assets of $828k. It reported 2 employees.