Hotchkiss Library of Sharon Inc

Analysis

Hotchkiss Library of Sharon Inc is a registered charity in United States, based in Sharon, CT. It received its IRS tax-exemption ruling in February 1961, 65 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, Hotchkiss Library of Sharon Inc reported income of $587k and spending of $371k, leaving 37% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $397k to $587k (+48%), an average of +10% a year. The sharpest change came in the year to June 2021, when income rose by 200%. Over the whole period it spent 33% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Hotchkiss Library of Sharon Inc sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 71st percentile within CT. Charities of a similar size with the same main cause include Arise2read ($587k), Holy Family Learning Center Inc ($587k) and Central Cooperative Kindergarten Inc ($587k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 86% and program service revenue 0.1% of the total. Compensation of current officers, directors and key employees was $82k (22% of expenses). Other salaries and wages came to $124k. At year end it held assets of $5.9m against liabilities of $213k, net assets of $5.6m. It reported 10 employees.