Young Mens Library Association

Analysis

Young Mens Library Association is a registered charity in United States, based in Ware, MA. It received its IRS tax-exemption ruling in November 1935, 91 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 2022, Young Mens Library Association reported income of $306k and spending of $325k, spending 106% of what it took in. Across the 2 years on record, from June 2021 to June 2022, income fell from $495k to $306k (-38%), an average of -38% a year. The sharpest change came in the year to June 2022, when income dropped by 38%. Over the whole period it spent 74% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Young Mens Library Association sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 64th percentile within MA. Charities of a similar size with the same main cause include Creative Connections Inc ($306k), Williamstown Meetinghouse Preservation Fund Inc ($306k) and Colorado Park Housing Corp P a H C ($306k).

On its Form 990 for the period ending June 2022, revenue came from contributions and grants 1.5% and program service revenue 96% of the total. Compensation of current officers, directors and key employees was $500 (0.2% of expenses). Other salaries and wages came to $159k. At year end it held assets of $806k against liabilities of $64k, net assets of $743k. It reported 6 employees.