Sherman Library Association Inc

Analysis

Sherman Library Association Inc is a registered charity in United States, based in Sherman, CT. It received its IRS tax-exemption ruling in January 1977, 49 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, Sherman Library Association Inc reported income of $530k and spending of $465k, spending 88% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $278k to $530k (+91%), an average of +18% a year. The sharpest change came in the year to June 2023, when income rose by 56%. Over the whole period it spent 119% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Sherman Library Association 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 Olancho Aid Foundation Inc ($530k), Career Girls ($530k) and Crosspointe Preparatory ($530k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 52% and program service revenue 2.7% of the total. Other salaries and wages came to $165k. At year end it held assets of $3.9m against liabilities of $550, net assets of $3.9m. It reported 14 employees.