Lake Placid Public Library

Analysis

Lake Placid Public Library is a registered charity in United States, based in Lake Placid, NY. It received its IRS tax-exemption ruling in March 2006, 20 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 2024, Lake Placid Public Library reported income of $405k and spending of $348k, spending 86% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $342k to $405k (+18%), an average of +3.4% a year. Over the whole period it spent 89% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Lake Placid Public Library sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 63rd percentile within NY. Charities of a similar size with the same main cause include American Vaulting Association ($405k), American Association of Swine Veterinarians Foundation ($405k) and San Jose Police Chaplaincy ($405k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 94% and program service revenue 1.2% of the total. Other salaries and wages came to $177k. At year end it held assets of $617k against liabilities of $0, net assets of $617k. It reported 6 employees.