Memorial & Library Association
Only null% goes to programs Strong reserves
Memorial & Library Association is a 501(c)(3) organization based in Westerly, Rhode Island, registered in 1944, with $2,734,021 in FY2024 revenue. CharityIndex grades it C+.
44 Broad St, Westerly, RI, 02891 EIN 05-0259005 Since 1944
Revenue (FY2024)
$2.7M
▼ 31.3% vs prior year
Education median: $200K
Expenses (FY2024)
$3.3M
Net assets
$46.2M
Employees
—
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
C+
—Program efficiency40% of the ratingNo expense breakdown in filings
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. Not scored for Memorial & Library Association— this filing type doesn't report it, and the rating simply skips it (never counts it against the organization). See the exact thresholds →
C+Financial health25% of the rating166 mo reserves · -22% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Memorial & Library Association: 166 mo reserves · -22% margin earns a C+ on this criterion. See the exact thresholds →
—Governance25% of the ratingNot reported in this filing type
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. Not scored for Memorial & Library Association— this filing type doesn't report it, and the rating simply skips it (never counts it against the organization). See the exact thresholds →
CTransparency10% of the rating2 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Memorial & Library Association: 2 of 5 disclosure signals earns a C on this criterion. See the exact thresholds →
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Contact & location
- Address
- 44 Broad St, Westerly, RI, 02891
- City
- Westerly
- State
- Rhode Island
- Category
- Education
- Subcategory
- Libraries
- Website
- …
Financial trends
Revenue grew from $1.8M (FY2013) to $2.7M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $619KNet assets $46.2M
Operating margin
-22.1%
Spent more than it raised in the latest fiscal year.
Total assets
$46.9M
Total liabilities
$619K
Net assets
$46.2M
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $2,734,021▼31.3% | $3,338,273▲3.8% | $46,230,691▲6.5% | $46,850,168▲5.5% | 990 |
| 2023 | $3,978,420▲86.3% | $3,216,196▲8.1% | $43,405,944▲9.6% | $44,405,100▲8.8% | 990 |
| 2022 | $2,135,182▼30.8% | $2,974,378 | $39,608,640▲6.7% | $40,823,245▲6.0% | 990 |
| 2021 | $3,083,300▲31.0% | $2,974,224▲1.6% | $37,133,485▼14.5% | $38,501,613▼15.0% | 990 |
| 2020 | $2,353,119▼14.5% | $2,926,348▲2.3% | $43,414,419▲19.5% | $45,284,648▲18.1% | 990 |
| 2019 | $2,752,570▼69.7% | $2,860,809▼0.1% | $36,315,673▼0.1% | $38,334,448▼0.8% | 990 |
| 2018 | $9,076,223▲62.7% | $2,863,391▲4.2% | $36,341,493▲18.0% | $38,658,782▲16.3% | 990 |
| 2017 | $5,578,143▲41.8% | $2,747,864▼5.6% | $30,806,708▲0.6% | $33,240,746▼0.1% | 990 |
| 2016 | $3,932,829▲89.9% | $2,910,579▲5.1% | $30,628,118▲3.2% | $33,287,001▲2.7% | 990 |
| 2015 | $2,071,169▲2.4% | $2,768,550▼0.4% | $29,685,336▼4.4% | $32,400,391▼4.4% | 990 |
| 2014 | $2,021,972▲14.6% | $2,779,177▼0.9% | $31,065,334▼3.5% | $33,887,232▼3.6% | 990 |
| 2013 | $1,765,034 | $2,803,896▲3.2% | $32,183,892▲3.7% | $35,158,833▲3.3% | 990 |
| 2012 | — | $2,717,796▼0.8% | $31,030,453▲9.6% | $34,034,112▲8.4% | 990 |
| 2011 | — | $2,740,725▲9.4% | $28,304,923▲7.5% | $31,407,899▲2.2% | 990 |
| 2010 | — | $2,504,857 | $26,332,543 | $30,720,576 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Grants received · $246K total
28 grants to Memorial & Library Association totaling $246K, reported by foundations on their Schedule I filings — showing the 15 most recent.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| The Rhode Island Community Foundation | Edu - educational success (primary) | 2024 | $28,909 |
| The New York Community Trust | For general support. | 2024 | $10,500 |
| The Rhode Island Community Foundation | Educational success | 2023 | $26,524 |
| The New York Community Trust | For general support. | 2023 | $10,300 |
| Fidelity Investments Charitable Gift Fund | For grant recipient's exempt purposes | 2023 | $9,100 |
| The Rhode Island Community Foundation | General operating support | 2022 | $19,024 |
| Fidelity Investments Charitable Gift Fund | For grant recipient's exempt purposes | 2022 | $10,500 |
| The Rhode Island Community Foundation | Program support | 2022 | $6,024 |
| The Rhode Island Community Foundation | General operating; general support; winter fundraising; winter fundraiser; program support | 2021 | $24,343 |
| The Rhode Island Community Foundation | General operating | 2020 | $16,362 |
| The Rhode Island Community Foundation | General operating | 2020 | $16,362 |
| The Rhode Island Community Foundation | Program support | 2020 | $5,497 |
| The Rhode Island Community Foundation | Program support | 2020 | $5,497 |
| Fidelity Investments Charitable Gift Fund | For grant recipient's exempt purposes | 2020 | $5,350 |
| T Rowe Price Program For Charitable Giving Inc | General operating | 2020 | $5,000 |
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Frequently asked questions
- Is Memorial & Library Association a legitimate nonprofit?
- Yes. Memorial & Library Association is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 05-0259005, based in Westerly, Rhode Island. Donations are tax-deductible.
- What is Memorial & Library Association's EIN?
- Memorial & Library Association's Employer Identification Number (EIN) is 05-0259005.
- How much revenue does Memorial & Library Association report?
- Memorial & Library Association reported $2,734,021 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- What financial grade does Memorial & Library Association have?
- CharityIndex grades Memorial & Library Association C+, based on financial health (reserves and operating margin).
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Data for Memorial & Library Association (EIN 05-0259005) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.