Friends of Andover Memorial Hall Library

Analysis

Friends of Andover Memorial Hall Library is a registered charity in United States, based in Andover, MA. It received its IRS tax-exemption ruling in February 1978, 48 years ago. 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 March 2024, Friends of Andover Memorial Hall Library reported income of $69k and spending of $49k, leaving 29% of income unspent that year. Across the 2 years on record, from March 2023 to March 2024, income grew from $63k to $69k (+10%), an average of +10% a year. Over the whole period it spent 72% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Friends of Andover Memorial Hall Library sits at the 27th percentile: it is larger than about 27% of them. Against every charity in United States with reported income it ranks in the 27th percentile, and in the 36th percentile within MA. Charities of a similar size with the same main cause include Colorado Environmental Certification & Training Inc ($69k), University of Minnesota Student Section of the Society of Women ($69k) and Historic Flat Rock Inc ($69k).

On its Form 990-EZ for the period ending March 2024, revenue came from contributions and grants 59% and program service revenue 15% of the total. At year end it held assets of $105k against liabilities of $0, net assets of $105k.