Malden Public Library

Analysis

Malden Public Library is a registered charity in United States, based in Malden, MA. It received its IRS tax-exemption ruling in January 1971, 55 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 2024, Malden Public Library reported income of $1.3m and spending of $848k, leaving 34% of income unspent that year. Across the 6 years on record, from June 2019 to June 2024, income grew from $942k to $1.3m (+35%), an average of +6.2% a year. The sharpest change came in the year to June 2021, when income rose by 253%. Over the whole period it spent 62% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Malden Public Library sits at the 80th 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 Children in Need Foundation ($1.3m), Broadmoor United Methodist Preschool ($1.3m) and We All Rise African American Resource Center Inc ($1.3m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 30% of the total. Other salaries and wages came to $14k. At year end it held assets of $17.1m against liabilities of $57k, net assets of $17.0m. It reported 4 employees.