Coburn Free Library

Analysis

Coburn Free Library is a registered charity in United States, based in Owego, NY. It received its IRS tax-exemption ruling in March 1953, 73 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 December 2023, Coburn Free Library reported income of $271k and spending of $208k, leaving 23% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $253k to $271k (+7.0%), an average of +1.7% a year. The sharpest change came in the year to December 2020, when income rose by 108%. Over the whole period it spent 47% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Coburn Free Library sits at the 58th percentile: it is larger than about 58% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 57th percentile within NY. Charities of a similar size with the same main cause include Texas Cotton Gin Museum Inc ($271k), Pathways Futures Inc ($271k) and Saint Vincent Depaul Society ($271k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 69% of the total. Compensation of current officers, directors and key employees was $45k (22% of expenses). Other salaries and wages came to $53k. At year end it held assets of $2.7m against liabilities of $18k, net assets of $2.7m. It reported 6 employees.