Clark Memorial Library

Analysis

Clark Memorial Library is a registered charity in United States, based in Carolina, RI. It received its IRS tax-exemption ruling in August 1978, 48 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, Clark Memorial Library reported income of $188k and spending of $197k, spending 105% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $188k to $188k (+0.1%), an average of +0.0% a year. The sharpest change came in the year to June 2021, when income dropped by 18%. Over the whole period it spent 94% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Clark Memorial Library sits at the 53rd percentile: it is larger than about 53% of them. Against every charity in United States with reported income it ranks in the 52nd percentile, and in the 49th percentile within RI. Charities of a similar size with the same main cause include Marion High School Alumni Association Inc ($188k), Eastern Economic Association ($188k) and Light House Academy Inc ($188k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 97% and program service revenue 0.6% of the total. Compensation of current officers, directors and key employees was $91k (46% of expenses). At year end it held assets of $549k against liabilities of $3,207, net assets of $545k. It reported 7 employees.