Addison Township Public Library

Analysis

Addison Township Public Library is a registered charity in United States, based in Leonard, MI. It received its IRS tax-exemption ruling in May 2005, 21 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 December 2023, Addison Township Public Library reported income of $360k and spending of $310k, spending 86% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $333k to $360k (+8.1%), an average of +2.0% a year. The sharpest change came in the year to December 2022, when income rose by 74%. 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, Addison Township Public Library sits at the 63rd percentile: it is larger than about 63% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 65th percentile within MI. Charities of a similar size with the same main cause include Utah Scholarship Foundation ($360k), Killingworth Library Association Inc ($360k) and BMS Building Corporation ($360k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 95% and program service revenue 1.5% of the total. Compensation of current officers, directors and key employees was $17k (5.6% of expenses). Other salaries and wages came to $106k. At year end it held assets of $3.0m against liabilities of $7,861, net assets of $3.0m. It reported 17 employees.