Norfolk Library Inc

Analysis

Norfolk Library Inc is a registered charity in United States, based in Norfolk, CT. It received its IRS tax-exemption ruling in April 1942, 84 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, Norfolk Library Inc reported income of $537k and spending of $809k, spending 151% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $691k to $537k (-22%), an average of -6.1% a year. The sharpest change came in the year to June 2023, when income dropped by 45%. Over the whole period it spent 82% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Norfolk Library Inc sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 69th percentile within CT. Charities of a similar size with the same main cause include Makehaven Inc ($537k), Umkc Trustees ($537k) and Family Reunion ($537k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 40% and program service revenue 0.3% of the total. Compensation of current officers, directors and key employees was $116k (14% of expenses). Other salaries and wages came to $203k. At year end it held assets of $17.1m against liabilities of $1,337, net assets of $17.1m. It reported 11 employees.