Concord Free Public Library Corporation

Analysis

Concord Free Public Library Corporation is a registered charity in United States, based in Concord, MA. It received its IRS tax-exemption ruling in February 1979, 47 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 2023, Concord Free Public Library Corporation reported income of $1.7m and spending of $1.7m, spending 101% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $4.6m to $1.7m (-63%), an average of -22% a year. The sharpest change came in the year to June 2022, when income rose by 96%. Over the whole period it spent 52% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Concord Free Public Library Corporation sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 83rd percentile within MA. Charities of a similar size with the same main cause include Alachua Learning Center Inc ($1.7m), Grayson County College Foundation Inc ($1.7m) and Palomar College Foundation ($1.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 21% and program service revenue 0.2% of the total. Other salaries and wages came to $99k. At year end it held assets of $33.8m against liabilities of $340k, net assets of $33.5m. It reported 4 employees.