East Lyme Public Library Inc

Analysis

East Lyme Public Library Inc is a registered charity in United States, based in Niantic, CT. It received its IRS tax-exemption ruling in May 1942, 84 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 2024, East Lyme Public Library Inc reported income of $1.4m and spending of $1.4m, spending 103% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $1.3m to $1.4m (+3.3%), an average of +0.7% a year. Over the whole period it spent 98% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, East Lyme Public Library Inc sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 81st percentile within CT. Charities of a similar size with the same main cause include West Hills Community College Foundation ($1.4m), Seminole County Bar Association Legal Aid Society Inc ($1.4m) and Concillo Campesino Del Sudoeste Incorporated ($1.4m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 98% and program service revenue 1.5% of the total. Compensation of current officers, directors and key employees was $106k (7.6% of expenses). Other salaries and wages came to $683k. At year end it held assets of $15.3m against liabilities of $101k, net assets of $15.2m. It reported 27 employees.