Richard Salters Storrs Library

Analysis

Richard Salters Storrs Library is a registered charity in United States, based in Longmeadow, MA. It received its IRS tax-exemption ruling in August 1944, 82 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 June 2024, Richard Salters Storrs Library reported income of $330k and spending of $192k, leaving 42% of income unspent that year. Across the 5 years on record, from June 2020 to June 2024, income grew from $196k to $330k (+69%), an average of +14% a year. The sharpest change came in the year to June 2024, when income rose by 67%. Over the whole period it spent 75% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Richard Salters Storrs Library sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 65th percentile within MA. Charities of a similar size with the same main cause include Community Services Housing Inc ($330k), Geauga County Historical Society ($330k) and Do Co Inc ($330k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 57% and program service revenue 4.7% of the total. At year end it held assets of $1.7m against liabilities of $2,436, net assets of $1.7m.