Willett Free Library

Analysis

Willett Free Library is a registered charity in United States, based in Saunderstown, RI. It received its IRS tax-exemption ruling in January 1974, 52 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, Willett Free Library reported income of $120k and spending of $145k, spending 122% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $102k to $120k (+17%), an average of +4.1% a year. The sharpest change came in the year to June 2022, when income rose by 64%. Over the whole period it spent 91% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Willett Free Library sits at the 41st percentile: it is larger than about 41% of them. Against every charity in United States with reported income it ranks in the 42nd percentile, and in the 37th percentile within RI. Charities of a similar size with the same main cause include The Miami Valley Steam Threshers Association Inc ($120k), South Wedge Planning Committee ($120k) and Rumson Endowment Fund Inc ($120k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 72% and program service revenue 0.3% of the total. Other salaries and wages came to $62k. At year end it held assets of $1.4m against liabilities of $137, net assets of $1.4m. It reported 7 employees.