Providence Public Library

Analysis

Providence Public Library is a registered charity in United States, based in Providence, RI. It received its IRS tax-exemption ruling in May 1919, 107 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, Providence Public Library reported income of $7.8m and spending of $8.8m, spending 113% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $6.9m to $7.8m (+12%), an average of +2.9% a year. The sharpest change came in the year to June 2022, when income rose by 33%. Over the whole period it spent 102% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Providence Public Library sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 92nd percentile within RI. Charities of a similar size with the same main cause include East Mesa Charter Elementary School ($7.8m), Seed Foundation Inc ($7.8m) and STEM Next Opportunity Fund ($7.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 95% and program service revenue 3.8% of the total. Compensation of current officers, directors and key employees was $354k (4.0% of expenses). Other salaries and wages came to $3.2m. At year end it held assets of $31.3m against liabilities of $26.3m, net assets of $5.0m. It reported 99 employees.