Essex Library Association Inc

Analysis

Essex Library Association Inc is a registered charity in United States, based in Essex, CT. It received its IRS tax-exemption ruling in February 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 2024, Essex Library Association Inc reported income of $1.2m and spending of $674k, leaving 44% of income unspent that year. Across the 5 years on record, from June 2020 to June 2024, income grew from $469k to $1.2m (+155%), an average of +26% a year. The sharpest change came in the year to June 2024, when income rose by 75%. Over the whole period it spent 82% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Essex Library Association Inc sits at the 77th percentile: it is larger than about 77% 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 TVS the Village School ($1.2m), Arkansas Rural Endowment Fund Inc ($1.2m) and Margaret Bloom Trust ($1.2m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 88% of the total. Compensation of current officers, directors and key employees was $114k (17% of expenses). Other salaries and wages came to $202k. At year end it held assets of $6.7m against liabilities of $719, net assets of $6.7m. It reported 12 employees.