Harbor Springs Library

Analysis

Harbor Springs Library is a registered charity in United States, based in Harbor SPGS, MI. It received its IRS tax-exemption ruling in October 1946, 80 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 September 2023, Harbor Springs Library reported income of $173k and spending of $214k, spending 124% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $162k to $173k (+6.5%), an average of +1.6% a year. The sharpest change came in the year to September 2020, when income rose by 22%. Over the whole period it spent 82% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Harbor Springs Library sits at the 52nd percentile: it is larger than about 52% of them. Against every charity in United States with reported income it ranks in the 51st percentile, and in the 50th percentile within MI. Charities of a similar size with the same main cause include Upper Chichester Library ($173k), Triangle Bikeworks Inc ($173k) and Friends of Serrania Inc ($173k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 71% and program service revenue 2.7% of the total. Compensation of current officers, directors and key employees was $59k (27% of expenses). At year end it held assets of $570k against liabilities of $1,742, net assets of $568k. It reported 5 employees.