Bedford Free Library

Analysis

Bedford Free Library is a registered charity in United States, based in Bedford, NY. It received its IRS tax-exemption ruling in May 1965, 61 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Bedford Free Library reported income of $595k and spending of $624k, spending 105% of what it took in. Across the 6 years on record, from December 2018 to December 2023, income fell from $977k to $595k (-39%), an average of -9.5% a year. The sharpest change came in the year to December 2019, when income dropped by 47%. Over the whole period it spent 85% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Bedford Free Library sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 69th percentile within NY. Charities of a similar size with the same main cause include Boone County Agricultural Association ($595k), St Thomas Orthodox Church of India ($595k) and Old Lyme Childrens Learning Center Inc ($595k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 92% of the total. Compensation of current officers, directors and key employees was $110k (18% of expenses). At year end it held assets of $3.2m against liabilities of $0, net assets of $3.2m. It reported 15 employees.