Trustees of the Salem Public Library

Analysis

Trustees of the Salem Public Library is a registered charity in United States, based in Salem, MA. It received its IRS tax-exemption ruling in April 1982, 44 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, Trustees of the Salem Public Library reported income of $90k and spending of $84k, spending 94% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $127k to $90k (-29%), an average of -8.4% a year. The sharpest change came in the year to June 2020, when income rose by 54%. Over the whole period it spent 65% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Trustees of the Salem Public Library 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 34th percentile, and in the 42nd percentile within MA. Charities of a similar size with the same main cause include Southridge Band Boosters Inc ($90k), Friends of Head Start Inc ($90k) and PTA North Carolina Congress ($90k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 6.9% and program service revenue 44% of the total. At year end it held assets of $1.8m against liabilities of $0, net assets of $1.8m.