Libraries Online Incorporated

Analysis

Libraries Online Incorporated is a registered charity in United States, based in Middletown, CT. It received its IRS tax-exemption ruling in June 1982, 44 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, Libraries Online Incorporated reported income of $1.3m and spending of $1.4m, spending 102% of its income. Across the 4 years on record, from June 2020 to June 2023, income fell from $1.4m to $1.3m (-5.4%), an average of -1.8% a year. Over the whole period it spent 98% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Libraries Online Incorporated sits at the 79th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 81st percentile within CT. Charities of a similar size with the same main cause include Telos Academy LLC ($1.3m), Unity Christian School ($1.3m) and Lutheran College Washington Consortium ($1.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% and program service revenue 0.5% of the total. Compensation of current officers, directors and key employees was $221k (16% of expenses). Other salaries and wages came to $389k. At year end it held assets of $998k against liabilities of $99k, net assets of $899k. It reported 7 employees.