Phelps Community Memorial Library

Analysis

Phelps Community Memorial Library is a registered charity in United States, based in Phelps, NY. It received its IRS tax-exemption ruling in November 1967, 59 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, Phelps Community Memorial Library reported income of $194k and spending of $254k, spending 131% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $217k to $194k (-11%), an average of -2.8% a year. Over the whole period it spent 105% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Phelps Community Memorial Library sits at the 52nd percentile: it is larger than about 52% of them. Against every charity in United States with reported income it ranks in the 53rd percentile, and in the 51st percentile within NY. Charities of a similar size with the same main cause include Sequoia Parents Nursery School Inc ($194k), Inter-Collegiate Sailing Association of North America Inc ($194k) and Great Adventure Ministries ($194k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% and program service revenue 0.2% of the total. Compensation of current officers, directors and key employees was $55k (22% of expenses). It paid $1,674 in professional fundraising fees. At year end it held assets of $426k against liabilities of $0, net assets of $426k.