Saranac Lake Free Library

Analysis

Saranac Lake Free Library is a registered charity in United States, based in Saranac Lake, NY. It received its IRS tax-exemption ruling in June 1943, 83 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 December 2023, Saranac Lake Free Library reported income of $781k and spending of $511k, leaving 35% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $471k to $781k (+66%), an average of +14% a year. The sharpest change came in the year to December 2023, when income rose by 34%. Over the whole period it spent 78% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Saranac Lake Free Library sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 72nd percentile within NY. Charities of a similar size with the same main cause include United States Collegiate Athletic Association ($781k), Hopkinsville Community College Foundation Inc ($781k) and Southern California District Council of Laborers Mike Quevedo S ($781k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 91% and program service revenue 0.3% of the total. Other salaries and wages came to $284k. At year end it held assets of $2.5m against liabilities of $790, net assets of $2.5m. It reported 11 employees.