Bill Memorial Library

Analysis

Bill Memorial Library is a registered charity in United States, based in Groton, CT. It received its IRS tax-exemption ruling in July 1943, 83 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 2024, Bill Memorial Library reported income of $399k and spending of $482k, spending 121% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income grew from $329k to $399k (+21%), an average of +3.9% a year. The sharpest change came in the year to June 2021, when income rose by 77%. Over the whole period it spent 96% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Bill Memorial Library sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 64th percentile within CT. Charities of a similar size with the same main cause include Lake Travis Band Parents Inc ($399k), Ecoaction Partners ($399k) and Education Foundation of Baltimore County Public ($399k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 34% and program service revenue 0.7% of the total. Compensation of current officers, directors and key employees was $68k (14% of expenses). Other salaries and wages came to $130k. At year end it held assets of $4.5m against liabilities of $0, net assets of $4.5m. It reported 17 employees.