Latham Memorial Library Inc

Analysis

Latham Memorial Library Inc is a registered charity in United States, based in Thetford, VT. It received its IRS tax-exemption ruling in January 1981, 45 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 December 2023, Latham Memorial Library Inc reported income of $174k and spending of $160k, spending 92% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $131k to $174k (+32%), an average of +7.3% a year. The sharpest change came in the year to December 2021, when income rose by 68%. Over the whole period it spent 76% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Latham Memorial Library Inc sits at the 50th percentile: it is larger than about 50% of them. Against every charity in United States with reported income it ranks in the 51st percentile, and in the 42nd percentile within VT. Charities of a similar size with the same main cause include Continental Resources Community Foundation Inc ($174k), Bux-Mont Meals on Wheels Inc ($174k) and Lucerne Alpine Seniors Inc ($174k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 76% and program service revenue 0.4% of the total. Compensation of current officers, directors and key employees was $65k (40% of expenses). Other salaries and wages came to $47k. At year end it held assets of $763k against liabilities of $1,465, net assets of $761k. It reported 4 employees.