Cuba Circulating Library Assoc

Analysis

Cuba Circulating Library Assoc is a registered charity in United States, based in Cuba, NY. It received its IRS tax-exemption ruling in May 1945, 81 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, Cuba Circulating Library Assoc reported income of $502k and spending of $362k, leaving 28% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $229k to $502k (+119%), an average of +22% a year. The sharpest change came in the year to December 2021, when income rose by 45%. Over the whole period it spent 93% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Cuba Circulating Library Assoc sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 66th percentile within NY. Charities of a similar size with the same main cause include Fergus Falls 544 Educaton Foundation ($502k), Angels Care Learning Center ($502k) and Arkansas Independent Colleges & Universities ($502k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 83% and program service revenue 2.1% of the total. Compensation of current officers, directors and key employees was $52k (14% of expenses). Other salaries and wages came to $120k. At year end it held assets of $1.5m against liabilities of $1,959, net assets of $1.5m. It reported 7 employees.