Carthage Free Library

Analysis

Carthage Free Library is a registered charity in United States, based in Carthage, NY. It received its IRS tax-exemption ruling in September 1968, 58 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, Carthage Free Library reported income of $233k and spending of $259k, spending 111% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $204k to $233k (+14%), an average of +3.4% a year. The sharpest change came in the year to December 2020, when income rose by 49%. Over the whole period it spent 98% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Carthage Free Library sits at the 55th percentile: it is larger than about 55% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 54th percentile within NY. Charities of a similar size with the same main cause include The Standby Program Inc ($233k), Friends of Tops ($233k) and Dr Richard Barnett Foundation Inc ($233k).

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 $32k (12% of expenses). Other salaries and wages came to $90k. At year end it held assets of $1.3m against liabilities of $3,433, net assets of $1.3m. It reported 17 employees.