Gunn Memorial Library Inc

Analysis

Gunn Memorial Library Inc is a registered charity in United States, based in Washington, CT. It received its IRS tax-exemption ruling in August 1976, 50 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 2023, Gunn Memorial Library Inc reported income of $1.1m and spending of $827k, leaving 27% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income fell from $1.2m to $1.1m (-6.0%), an average of -1.5% a year. The sharpest change came in the year to June 2021, when income rose by 96%. Over the whole period it spent 73% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Gunn Memorial Library Inc sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 79th percentile within CT. Charities of a similar size with the same main cause include Women in Film & Video Inc ($1.1m), J Higdon Potter Educational Foundation Inc ($1.1m) and East Liverpool Christian School ($1.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 52% and program service revenue 0.4% of the total. Other salaries and wages came to $398k. At year end it held assets of $9.3m against liabilities of $58k, net assets of $9.3m. It reported 19 employees.