New Canaan Library Inc

Analysis

New Canaan Library Inc is a registered charity in United States, based in New Canaan, CT. It received its IRS tax-exemption ruling in December 1947, 79 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 2024, New Canaan Library Inc reported income of $6.5m and spending of $5.1m, leaving 22% of income unspent that year. Across the 5 years on record, from June 2020 to June 2024, income fell from $9.9m to $6.5m (-34%), an average of -9.8% a year. The sharpest change came in the year to June 2022, when income rose by 416%. Over the whole period it spent 37% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, New Canaan Library Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 92nd percentile within CT. Charities of a similar size with the same main cause include Proof School ($6.5m), The Dominion School Incorporated ($6.5m) and Vanguard University Foundation ($6.5m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 91% and program service revenue 4.0% of the total. Compensation of current officers, directors and key employees was $497k (9.7% of expenses). Other salaries and wages came to $1.9m. At year end it held assets of $52.4m against liabilities of $3.4m, net assets of $49.0m. It reported 53 employees.