Island Readers and Writers an Initiative for Maine Children

Analysis

Island Readers and Writers an Initiative for Maine Children is a registered charity in United States, based in Mount Desert, ME. It received its IRS tax-exemption ruling in June 2007, 19 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, Island Readers and Writers an Initiative for Maine Children reported income of $2.6m and spending of $513k, leaving 80% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $480k to $2.6m (+437%), an average of +52% a year. The sharpest change came in the year to December 2023, when income rose by 578%. Over the whole period it spent 50% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Island Readers and Writers an Initiative for Maine Children sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 87th percentile within ME. Charities of a similar size with the same main cause include Literacy Center of West Michigan ($2.6m), Kroenke Sports Charities Inc ($2.6m) and American Foreign Service Association Scholarship Fund ($2.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% and program service revenue 1.3% of the total. Other salaries and wages came to $255k. At year end it held assets of $2.5m against liabilities of $4,149, net assets of $2.5m. It reported 5 employees.