Memorial & Library Association

Analysis

Memorial & Library Association is a registered charity in United States, based in Westerly, RI. It received its IRS tax-exemption ruling in July 1944, 82 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, Memorial & Library Association reported income of $2.1m and spending of $3.0m, spending 139% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $9.1m to $2.1m (-76%), an average of -30% a year. The sharpest change came in the year to June 2020, when income dropped by 70%. Over the whole period it spent 75% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Memorial & Library Association sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 83rd percentile within RI. Charities of a similar size with the same main cause include Eastlake High School of Colorado Springs ($2.1m), Jewish Experience of Madison Milwaukee ($2.1m) and Brooklyn College Association Inc ($2.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 71% and program service revenue 0.5% of the total. Other salaries and wages came to $1.4m. At year end it held assets of $40.8m against liabilities of $1.2m, net assets of $39.6m. It reported 49 employees.