Beardsley & Memorial Library

Analysis

Beardsley & Memorial Library is a registered charity in United States, based in Winsted, CT. It received its IRS tax-exemption ruling in August 1971, 55 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, Beardsley & Memorial Library reported income of $582k and spending of $534k, spending 92% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $490k to $582k (+19%), an average of +4.4% a year. The sharpest change came in the year to June 2021, when income rose by 42%. Over the whole period it spent 83% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Beardsley & Memorial Library sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 70th percentile within CT. Charities of a similar size with the same main cause include Elderly Housing Corporation of Claycounty Minnesota ($582k), Ice Theatre of New York ($582k) and Black Hawk East College Foundation ($582k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 83% and program service revenue 0.7% of the total. Compensation of current officers, directors and key employees was $62k (12% of expenses). Other salaries and wages came to $186k. At year end it held assets of $2.9m against liabilities of $5,168, net assets of $2.9m. It reported 14 employees.