The Preston Public Library

Analysis

The Preston Public Library is a registered charity in United States, based in Preston, CT. It received its IRS tax-exemption ruling in September 2016, 10 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, The Preston Public Library reported income of $261k and spending of $266k, spending 102% of its income. Across the 2 years on record, from June 2022 to June 2023, income grew from $223k to $261k (+17%), an average of +17% a year. The sharpest change came in the year to June 2023, when income rose by 17%. Over the whole period it spent 103% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, The Preston Public Library sits at the 59th percentile: it is larger than about 59% of them. Against every charity in United States with reported income it ranks in the 59th percentile, and in the 56th percentile within CT. Charities of a similar size with the same main cause include Digital Bridge Builders Inc ($261k), Rising River Corporation ($261k) and Association of Internet Researchers ($261k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $114k. At year end it held assets of $37k against liabilities of $98, net assets of $37k. It reported 9 employees.