Trustees of the Haverhill Public Library

Analysis

Trustees of the Haverhill Public Library is a registered charity in United States, based in Haverhill, MA. It received its IRS tax-exemption ruling in February 1973, 53 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 2023, Trustees of the Haverhill Public Library reported income of $2.8m and spending of $761k, leaving 73% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $657k to $2.8m (+325%), an average of +44% a year. The sharpest change came in the year to June 2022, when income rose by 485%. Over the whole period it spent 27% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Trustees of the Haverhill Public Library sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 87th percentile within MA. Charities of a similar size with the same main cause include Village School of North Bennington ($2.8m), Westside Montessori School Inc ($2.8m) and New Plan Learning Inc ($2.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 87% and program service revenue 1.0% of the total. Compensation of current officers, directors and key employees was $9,600 (1.3% of expenses). At year end it held assets of $24.5m against liabilities of $39k, net assets of $24.5m.