Richards Free Library

Analysis

Richards Free Library is a registered charity in United States, based in Newport, NH. It received its IRS tax-exemption ruling in May 1951, 75 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, Richards Free Library reported income of $908k and spending of $733k, spending 81% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $619k to $908k (+47%), an average of +10% a year. The sharpest change came in the year to December 2023, when income rose by 32%. Over the whole period it spent 87% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Richards Free Library sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 80th percentile within NH. Charities of a similar size with the same main cause include Jubilee School Inc ($908k), Agassiz Preschool Inc ($908k) and Childrens Environmental Literacy Foundation ($907k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 79% and program service revenue 8.4% of the total. Other salaries and wages came to $360k. At year end it held assets of $3.0m against liabilities of $0, net assets of $3.0m. It reported 20 employees.