Millinocket Memorial Library

Analysis

Millinocket Memorial Library is a registered charity in United States, based in Millinocket, ME. It received its IRS tax-exemption ruling in October 2017, 9 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, Millinocket Memorial Library reported income of $520k and spending of $460k, spending 89% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $528k to $520k (-1.5%), an average of -0.4% a year. The sharpest change came in the year to December 2023, when income rose by 41%. Over the whole period it spent 69% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Millinocket Memorial Library sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 67th percentile within ME. Charities of a similar size with the same main cause include Kansas Chapter American Academy of Pediatrics Inc ($520k), Gainesville Circus Center ($520k) and New Life Development Corporation ($520k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 95% and program service revenue 2.8% of the total. Compensation of current officers, directors and key employees was $61k (13% of expenses). Other salaries and wages came to $158k. At year end it held assets of $1.7m against liabilities of $131k, net assets of $1.6m. It reported 8 employees.