Rutland Free Library Association Inc T-A Rutland Free Library

Analysis

Rutland Free Library Association Inc T-A Rutland Free Library is a registered charity in United States, based in Rutland, VT. It received its IRS tax-exemption ruling in October 1963, 63 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 June 2024, Rutland Free Library Association Inc T-A Rutland Free Library reported income of $1.2m and spending of $1.4m, spending 118% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income fell from $1.4m to $1.2m (-15%), an average of -4.0% a year. The sharpest change came in the year to June 2021, when income rose by 56%. Over the whole period it spent 90% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Rutland Free Library Association Inc T-A Rutland Free Library sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 79th percentile within VT. Charities of a similar size with the same main cause include Cirque Lodge Foundation ($1.2m), Covenant Community School Inc ($1.2m) and Childrens Community School ($1.2m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 90% and program service revenue 1.4% of the total. Compensation of current officers, directors and key employees was $118k (8.6% of expenses). Other salaries and wages came to $607k. At year end it held assets of $6.8m against liabilities of $116k, net assets of $6.7m. It reported 20 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.