Fairmount Community Library Association

Analysis

Fairmount Community Library Association is a registered charity in United States, based in Syracuse, NY. It received its IRS tax-exemption ruling in August 2013, 13 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, Fairmount Community Library Association reported income of $575k and spending of $364k, leaving 37% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $356k to $575k (+62%), an average of +13% a year. The sharpest change came in the year to December 2023, when income rose by 52%. Over the whole period it spent 91% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Fairmount Community Library Association sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 68th percentile within NY. Charities of a similar size with the same main cause include Healthbarn Foundation Inc ($575k), Tools for Tomorrow Inc ($576k) and Palo Alto Friends Nursery School ($575k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $57k (16% of expenses). Other salaries and wages came to $174k. At year end it held assets of $653k against liabilities of $0, net assets of $653k. It reported 19 employees.