Kent Library Association

Analysis

Kent Library Association is a registered charity in United States, based in Kent, CT. It received its IRS tax-exemption ruling in April 1985, 41 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 December 2023, Kent Library Association reported income of $1.6m and spending of $409k, leaving 75% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $499k to $1.6m (+224%), an average of +34% a year. The sharpest change came in the year to December 2023, when income rose by 227%. Over the whole period it spent 51% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Kent Library Association sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 83rd percentile within CT. Charities of a similar size with the same main cause include United Parents and Students ($1.6m), Summit Academy Akron Middle School ($1.6m) and Fort Mill School Facilitiescorporation ($1.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 90% and program service revenue 0.5% of the total. Compensation of current officers, directors and key employees was $73k (18% of expenses). Other salaries and wages came to $158k. At year end it held assets of $2.8m against liabilities of $7,542, net assets of $2.8m. It reported 10 employees.