Louttit Library

Analysis

Louttit Library is a registered charity in United States, based in W Greenwich, RI. It received its IRS tax-exemption ruling in December 1951, 75 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 December 2023, Louttit Library reported income of $312k and spending of $320k, spending 103% of its income. Across the 4 years on record, from December 2020 to December 2023, income grew from $227k to $312k (+37%), an average of +11% a year. The sharpest change came in the year to December 2021, when income rose by 15%. Over the whole period it spent 106% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Louttit Library sits at the 61st percentile: it is larger than about 61% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 59th percentile within RI. Charities of a similar size with the same main cause include The Cee Team Inc ($312k), Black Arts & Cultural Center ($312k) and International Neural Network Society ($312k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% and program service revenue 2.2% of the total. Compensation of current officers, directors and key employees was $129k (40% of expenses). Other salaries and wages came to $64k. At year end it held assets of $606k against liabilities of $0, net assets of $606k. It reported 7 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.