Mineola Memorial Library Inc

Analysis

Mineola Memorial Library Inc is a registered charity in United States, based in Mineola, TX. It received its IRS tax-exemption ruling in February 1980, 46 years ago. 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, Mineola Memorial Library Inc reported income of $704k and spending of $249k, leaving 65% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $620k to $704k (+14%), an average of +3.2% a year. The sharpest change came in the year to December 2022, when income dropped by 133%. Over the whole period it spent 57% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Mineola Memorial Library Inc sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 79th percentile within TX. Charities of a similar size with the same main cause include Crisis Pregnancy Center of Central Arkansas Inc ($704k), Focus on Community Inc ($705k) and Saint Francis Home of Richmond Foundation Ltd ($704k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 25% and program service revenue 1.2% of the total. Other salaries and wages came to $120k. At year end it held assets of $3.7m against liabilities of $1,983, net assets of $3.7m. It reported 9 employees.