Cornwall Library Association

Analysis

Cornwall Library Association is a registered charity in United States, based in Cornwall, CT. It received its IRS tax-exemption ruling in June 1954, 72 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 2024, Cornwall Library Association reported income of $544k and spending of $279k, leaving 49% of income unspent that year. Across the 6 years on record, from June 2019 to June 2024, income grew from $178k to $544k (+206%), an average of +25% a year. The sharpest change came in the year to June 2024, when income rose by 61%. Over the whole period it spent 74% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Cornwall Library Association 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 71st percentile, and in the 69th percentile within CT. Charities of a similar size with the same main cause include West Mount Volunteer Fire Department Inc ($544k), Heritage Public Library Inc ($544k) and Encounters Network a Ministry to the Nations ($544k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 79% and program service revenue 1.0% of the total. Other salaries and wages came to $126k. At year end it held assets of $2.7m against liabilities of $5,027, net assets of $2.7m. It reported 11 employees.