Worcester Medical Library Inc

Analysis

Worcester Medical Library Inc is a registered charity in United States, based in Worcester, MA. It received its IRS tax-exemption ruling in September 1941, 85 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Worcester Medical Library Inc reported income of $89k and spending of $100k, spending 113% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $101k to $89k (-12%), an average of -3.2% a year. The sharpest change came in the year to December 2020, when income rose by 73%. Over the whole period it spent 76% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Worcester Medical Library Inc sits at the 34th percentile: it is larger than about 34% of them. Against every charity in United States with reported income it ranks in the 34th percentile, and in the 41st percentile within MA. Charities of a similar size with the same main cause include Leader Transition Institute Inc ($89k), St Croix Christmas Boat Parade Inc ($89k) and New Beginnings Shih Tzu Rescue Inc ($89k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 62% of the total. At year end it held assets of $1.0m against liabilities of $1,665, net assets of $1.0m.