Tully Free Library

Analysis

Tully Free Library is a registered charity in United States, based in Tully, NY. It received its IRS tax-exemption ruling in February 1988, 38 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, Tully Free Library reported income of $349k and spending of $236k, leaving 32% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $255k to $349k (+37%), an average of +8.2% a year. The sharpest change came in the year to December 2023, when income rose by 29%. Over the whole period it spent 86% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Tully Free Library sits at the 63rd percentile: it is larger than about 63% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 61st percentile within NY. Charities of a similar size with the same main cause include Community Workshop Residentials Inc E an Il NFP Corp ($349k), Texas Health Occupations Association Inc ($349k) and Circle Foundation Inc ($349k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 94% and program service revenue 1.9% of the total. Other salaries and wages came to $136k. At year end it held assets of $1.9m against liabilities of $870k, net assets of $991k. It reported 12 employees.