Porter Memorial Library Association

Analysis

Porter Memorial Library Association is a registered charity in United States, based in Machias, ME. It received its IRS tax-exemption ruling in April 1976, 50 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, Porter Memorial Library Association reported income of $104k and spending of $131k, spending 125% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $75k to $104k (+39%), an average of +8.5% a year. The sharpest change came in the year to June 2020, when income rose by 34%. Over the whole period it spent 103% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Porter Memorial Library Association sits at the 40th percentile: it is larger than about 40% of them. Against every charity in United States with reported income it ranks in the 38th percentile, and in the 32nd percentile within ME. Charities of a similar size with the same main cause include Power of Zero Foundation ($104k), Gibbs-Ottoson Parent Teacher Organization ($104k) and Lincoln County Educational Fund Inc ($104k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $37k (29% of expenses). Other salaries and wages came to $216. At year end it held assets of $1.0m against liabilities of $0, net assets of $1.0m. It reported 2 employees.