E C Scranton Memorial Library

Analysis

E C Scranton Memorial Library is a registered charity in United States, based in Madison, CT. It received its IRS tax-exemption ruling in April 1964, 62 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, E C Scranton Memorial Library reported income of $2.3m and spending of $2.0m, spending 85% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $4.1m to $2.3m (-44%), an average of -13% a year. The sharpest change came in the year to June 2020, when income rose by 150%. Over the whole period it spent 42% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, E C Scranton Memorial Library sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 85th percentile within CT. Charities of a similar size with the same main cause include Plaza Heights Christian Academy ($2.3m), First Concord Corporation ($2.3m) and Rainey Institute ($2.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 92% and program service revenue 0.3% of the total. Compensation of current officers, directors and key employees was $104k (5.3% of expenses). Other salaries and wages came to $793k. At year end it held assets of $18.5m against liabilities of $149k, net assets of $18.4m. It reported 34 employees.