Friends of the Melrose Public Library Inc

Analysis

Friends of the Melrose Public Library Inc is a registered charity in United States, based in Melrose, MA. It received its IRS tax-exemption ruling in February 1999, 27 years ago. Its declared purposes cover education, which this site groups under education and training. 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 2024, Friends of the Melrose Public Library Inc reported income of $81k and spending of $12k, leaving 85% of income unspent that year. Across the 2 years on record, from June 2023 to June 2024, income fell from $233k to $81k (-65%), an average of -65% a year. The sharpest change came in the year to June 2024, when income dropped by 65%. Over the whole period it spent 8.1% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Friends of the Melrose Public Library Inc sits at the 34th percentile: it is larger than about 34% of them. Against every charity in United States with reported income it ranks in the 31st percentile, and in the 39th percentile within MA. Charities of a similar size with the same main cause include H H Dow High School Boosters Club ($81k), Groves Elementary PTO ($81k) and Kirkwood Band Boosters ($81k).

On its Form 990-EZ for the period ending June 2024, revenue came from contributions and grants 86% of the total. At year end it held assets of $353k against liabilities of $0, net assets of $353k.