Lyme Free Library

Analysis

Lyme Free Library is a registered charity in United States, based in Chaumont, NY. It received its IRS tax-exemption ruling in March 1954, 72 years ago. Its declared purposes cover education, which this site groups under education and training. 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 December 2023, Lyme Free Library reported income of $201k and spending of $133k, leaving 34% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $163k to $201k (+23%), an average of +23% a year. The sharpest change came in the year to December 2023, when income rose by 23%. Over the whole period it spent 72% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Lyme Free Library sits at the 54th percentile: it is larger than about 54% of them. Against every charity in United States with reported income it ranks in the 54th percentile, and in the 51st percentile within NY. Charities of a similar size with the same main cause include Wenatchee Valley College at Omak Foundation ($201k), Aledo Band Boosters Club ($201k) and Indian Creek Athletic Boosters Club ($201k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% and program service revenue 2.0% of the total. Compensation of current officers, directors and key employees was $43k (32% of expenses). Other salaries and wages came to $25k. At year end it held assets of $533k against liabilities of $0, net assets of $533k. It reported 2 employees.