Westport Library Assoc

Analysis

Westport Library Assoc is a registered charity in United States, based in Westport, CT. It received its IRS tax-exemption ruling in January 1970, 56 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, Westport Library Assoc reported income of $8.4m and spending of $8.0m, spending 95% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $6.2m to $8.4m (+35%), an average of +10% a year. The sharpest change came in the year to June 2023, when income rose by 37%. Over the whole period it spent 105% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Westport Library Assoc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 93rd percentile within CT. Charities of a similar size with the same main cause include Lake Forest Elementary Charter School ($8.4m), School Smart KC Inc ($8.4m) and Kidsmart ($8.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 94% and program service revenue 3.0% of the total. Compensation of current officers, directors and key employees was $293k (3.7% of expenses). Other salaries and wages came to $3.5m. At year end it held assets of $26.4m against liabilities of $1.4m, net assets of $25.1m. It reported 117 employees.