Old Colony Library Network Inc

Analysis

Old Colony Library Network Inc is a registered charity in United States, based in Braintree, MA. It received its IRS tax-exemption ruling in February 1987, 39 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 2023, Old Colony Library Network Inc reported income of $1.3m and spending of $1.4m, spending 108% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income fell from $1.3m to $1.3m (-1.1%), an average of -0.4% a year. Over the whole period it spent 98% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Old Colony Library Network Inc sits at the 81st percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 81st percentile within MA. Charities of a similar size with the same main cause include Challenge Alaska ($1.3m), Destination & Travel Foundation ($1.3m) and Trout Unlimited ($1.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 24% and program service revenue 74% of the total. Other salaries and wages came to $495k. At year end it held assets of $1.9m against liabilities of $129k, net assets of $1.7m. It reported 9 employees.