Hoag Library of the Swan Library Association

Analysis

Hoag Library of the Swan Library Association is a registered charity in United States, based in Albion, NY. It received its IRS tax-exemption ruling in March 1954, 72 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, Hoag Library of the Swan Library Association reported income of $714k and spending of $805k, spending 113% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $885k to $714k (-19%), an average of -5.2% a year. The sharpest change came in the year to December 2022, when income dropped by 29%. Over the whole period it spent 96% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Hoag Library of the Swan Library Association sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 71st percentile within NY. Charities of a similar size with the same main cause include Cambridge Public Library Foundation Inc ($714k), The Missoula Community School ($714k) and Gray Matter Experience ($714k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% and program service revenue 1.5% of the total. Compensation of current officers, directors and key employees was $72k (9.0% of expenses). Other salaries and wages came to $255k. At year end it held assets of $4.1m against liabilities of $15k, net assets of $4.1m. It reported 16 employees.