Cooperative Libraries Automated Network

Analysis

Cooperative Libraries Automated Network is a registered charity in United States, based in Warwick, RI. It received its IRS tax-exemption ruling in March 1993, 33 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 2023, Cooperative Libraries Automated Network reported income of $2.6m and spending of $2.8m, spending 107% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.4m to $2.6m (+5.8%), an average of +1.4% a year. The sharpest change came in the year to June 2023, when income rose by 34%. Over the whole period it spent 105% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Cooperative Libraries Automated Network sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 84th percentile within RI. Charities of a similar size with the same main cause include Vigo County Education Foundation Inc ($2.6m), Penfield Addiction Ministries Inc ($2.6m) and Wisconsin Literacy Inc ($2.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 97% and program service revenue 1.1% of the total. Compensation of current officers, directors and key employees was $133k (4.9% of expenses). Other salaries and wages came to $600k. At year end it held assets of $1.8m against liabilities of $458k, net assets of $1.4m. It reported 5 employees.