Wood Library Association

Analysis

Wood Library Association is a registered charity in United States, based in Canandaigua, NY. It received its IRS tax-exemption ruling in September 1945, 81 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, Wood Library Association reported income of $1.7m and spending of $1.3m, leaving 21% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.6m to $1.7m (+1.7%), an average of +0.4% a year. The sharpest change came in the year to December 2023, when income rose by 44%. Over the whole period it spent 81% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Wood Library Association sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 81st percentile within NY. Charities of a similar size with the same main cause include Mill Valley Soccer Club Inc ($1.7m), Providence Connections Inc ($1.7m) and Capitol Hill Arts Workshop ($1.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 86% and program service revenue 1.0% of the total. Compensation of current officers, directors and key employees was $113k (8.6% of expenses). Other salaries and wages came to $673k. At year end it held assets of $9.3m against liabilities of $1.2m, net assets of $8.1m. It reported 30 employees.