The Maryland Book Bank Inc

Analysis

The Maryland Book Bank Inc is a registered charity in United States, based in Baltimore, MD. It received its IRS tax-exemption ruling in February 2015, 11 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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, The Maryland Book Bank Inc reported income of $4.6m and spending of $4.4m, spending 95% of its income. Across the 6 years on record, from December 2018 to December 2023, income grew from $2.9m to $4.6m (+60%), an average of +9.9% a year. The sharpest change came in the year to December 2019, when income rose by 41%. Over the whole period it spent 100% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, The Maryland Book Bank Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 90th percentile within MD. Charities of a similar size with the same main cause include Dancers Group ($4.6m), Consortium of Universities for the Advancement of Hydrologic Science ($4.6m) and National Cherry Blossom Festival Committee Inc ($4.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 113% of the total. Compensation of current officers, directors and key employees was $78k (1.8% of expenses). Other salaries and wages came to $135k. At year end it held assets of $923k against liabilities of $10k, net assets of $912k. It reported 11 employees.