Public Library of New London

Analysis

Public Library of New London is a registered charity in United States, based in New London, CT. It received its IRS tax-exemption ruling in August 1934, 92 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, Public Library of New London reported income of $1.3m and spending of $1.2m, spending 92% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.0m to $1.3m (+25%), an average of +5.8% a year. Over the whole period it spent 86% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Public Library of New London sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 80th percentile within CT. Charities of a similar size with the same main cause include Alliance Christian Academy-Little Sprouts Preschool ($1.3m), School Choice Wisconsin Inc ($1.3m) and Find-M Friends ($1.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 94% and program service revenue 0.8% of the total. Compensation of current officers, directors and key employees was $93k (8.0% of expenses). Other salaries and wages came to $431k. At year end it held assets of $3.8m against liabilities of $38k, net assets of $3.7m. It reported 28 employees.