Free Library of the Belmont Literary & Historical Society

Analysis

Free Library of the Belmont Literary & Historical Society is a registered charity in United States, based in Belmont, NY. It received its IRS tax-exemption ruling in July 1959, 67 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, Free Library of the Belmont Literary & Historical Society reported income of $60k and spending of $41k, leaving 32% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $63k to $60k (-5.0%), an average of -1.3% a year. The sharpest change came in the year to December 2022, when income dropped by 39%. Over the whole period it spent 85% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Free Library of the Belmont Literary & Historical Society sits at the 23rd percentile: it is larger than about 23% of them. Against every charity in United States with reported income it ranks in the 24th percentile, and in the 25th percentile within NY. Charities of a similar size with the same main cause include Heritage Christian Fellowship Inc ($60k), Harry Miller TR 6945 ($60k) and Service Air Corps ($60k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% of the total. Compensation of current officers, directors and key employees was $19k (46% of expenses). At year end it held assets of $655k against liabilities of $0, net assets of $655k. It reported 3 employees.