Ashaway Free Library

Analysis

Ashaway Free Library is a registered charity in United States, based in Ashaway, RI. It received its IRS tax-exemption ruling in July 1952, 74 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, Ashaway Free Library reported income of $142k and spending of $150k, spending 106% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income fell from $149k to $142k (-5.0%), an average of -1.7% a year. Over the whole period it spent 103% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Ashaway Free Library sits at the 47th percentile: it is larger than about 47% of them. Against every charity in United States with reported income it ranks in the 46th percentile, and in the 42nd percentile within RI. Charities of a similar size with the same main cause include Faith Pre-School ($142k), Oklahoma School of Innovation and Experiential Learning Inc ($142k) and Michigan Christian Homeschool Network ($142k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 84% and program service revenue 0.3% of the total. Other salaries and wages came to $66k. At year end it held assets of $782k against liabilities of $0, net assets of $782k. It reported 5 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.