Old Lyme-Phoebe Griffin Noyes Library Assn

Analysis

Old Lyme-Phoebe Griffin Noyes Library Assn is a registered charity in United States, based in Old Lyme, CT. It received its IRS tax-exemption ruling in April 1972, 54 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, Old Lyme-Phoebe Griffin Noyes Library Assn reported income of $806k and spending of $957k, spending 119% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $1.6m to $806k (-51%), an average of -16% a year. The sharpest change came in the year to June 2020, when income rose by 128%. Over the whole period it spent 56% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Old Lyme-Phoebe Griffin Noyes Library Assn sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 75th percentile within CT. Charities of a similar size with the same main cause include Stanford Soccer Club ($806k), Public Charter Schools of New Mexico ($806k) and Washington Statue Ffa Foundation ($805k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 69% and program service revenue 4.4% of the total. Compensation of current officers, directors and key employees was $84k (8.8% of expenses). Other salaries and wages came to $356k. At year end it held assets of $9.7m against liabilities of $42k, net assets of $9.7m. It reported 11 employees.