Russell Library Company

Analysis

Russell Library Company is a registered charity in United States, based in Middletown, CT. It received its IRS tax-exemption ruling in August 1988, 38 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, Russell Library Company reported income of $131k and spending of $212k, spending 162% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $186k to $131k (-29%), an average of -8.3% a year. The sharpest change came in the year to June 2023, when income dropped by 46%. Over the whole period it spent 104% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Russell Library Company sits at the 43rd percentile: it is larger than about 43% of them. Against every charity in United States with reported income it ranks in the 44th percentile, and in the 42nd percentile within CT. Charities of a similar size with the same main cause include Bay East Association of Realtors Foundation ($131k), Bar Advocates of Worcester County Inc ($131k) and New Life Team Inc ($131k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 78% and program service revenue 9.7% of the total. At year end it held assets of $1.6m against liabilities of $37k, net assets of $1.6m.