Jesse M Smith Memorial Library

Analysis

Jesse M Smith Memorial Library is a registered charity in United States, based in Harrisville, RI. It received its IRS tax-exemption ruling in November 1990, 36 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Jesse M Smith Memorial Library reported income of $1.1m and spending of $1.1m, spending 96% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $965k to $1.1m (+14%), an average of +3.4% a year. Over the whole period it spent 94% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Jesse M Smith Memorial Library sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 76th percentile within RI. Charities of a similar size with the same main cause include Albany Public Schools Foundation ($1.1m), Ameelio Inc ($1.1m) and Princeton Christian Fellowship ($1.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% and program service revenue 0.7% of the total. Compensation of current officers, directors and key employees was $76k (7.2% of expenses). Other salaries and wages came to $519k. At year end it held assets of $628k against liabilities of $35k, net assets of $593k. It reported 24 employees.