Woburn Public Library

Analysis

Woburn Public Library is a registered charity in United States, based in Woburn, MA. It received its IRS tax-exemption ruling in December 1934, 92 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Woburn Public Library reported income of $2.1m and spending of $2.2m, spending 105% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $1.9m to $2.1m (+8.9%), an average of +2.2% a year. The sharpest change came in the year to June 2023, when income rose by 26%. Over the whole period it spent 94% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Woburn Public Library sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 85th percentile within MA. Charities of a similar size with the same main cause include Cayl Institute Inc ($2.1m), Builders Education Services and Training of Michigan Inc ($2.1m) and Fairmont State Foundation Inc ($2.1m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 91% and program service revenue 2.3% of the total. Compensation of current officers, directors and key employees was $200k (9.3% of expenses). Other salaries and wages came to $1.1m. At year end it held assets of $12.9m against liabilities of $0, net assets of $12.9m. It reported 20 employees.