Open Library of Richmond Inc

Analysis

Open Library of Richmond Inc is a registered charity in United States, based in Biddeford, ME. It received its IRS tax-exemption ruling in January 2002, 24 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, Open Library of Richmond Inc reported income of $10.1m and spending of $26.2m, spending 260% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $25.8m to $10.1m (-61%), an average of -21% a year. The sharpest change came in the year to December 2021, when income rose by 255%. Over the whole period it spent 88% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Open Library of Richmond Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 95th percentile within ME. Charities of a similar size with the same main cause include Rochdale Early Advantage Charter School ($10.1m), Paideia Academies Inc ($10.1m) and The Coleridge Initiative Inc ($10.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 105% of the total. At year end it held assets of $24.4m against liabilities of $461k, net assets of $23.9m.