Harmony Library Association

Analysis

Harmony Library Association is a registered charity in United States, based in Harmony, RI. It received its IRS tax-exemption ruling in October 1972, 54 years ago. 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, Harmony Library Association reported income of $285k and spending of $298k, spending 105% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $264k to $285k (+8.0%), an average of +1.9% a year. Over the whole period it spent 104% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Harmony Library Association sits at the 59th percentile: it is larger than about 59% of them. Against every charity in United States with reported income it ranks in the 61st percentile, and in the 57th percentile within RI. Charities of a similar size with the same main cause include Trustees of Purdue University ($285k), Coalition of New York State Career Schools ($285k) and Annapolis Arts Alliance Inc ($285k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 96% and program service revenue 0.1% of the total. Other salaries and wages came to $165k. At year end it held assets of $592k against liabilities of $1,666, net assets of $590k. It reported 14 employees.