Lafayette Public Library

Analysis

Lafayette Public Library is a registered charity in United States, based in Lafayette, NY. It received its IRS tax-exemption ruling in April 1996, 30 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, Lafayette Public Library reported income of $211k and spending of $217k, spending 103% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $186k to $211k (+14%), an average of +3.2% a year. Over the whole period it spent 104% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Lafayette Public Library sits at the 54th percentile: it is larger than about 54% of them. Against every charity in United States with reported income it ranks in the 55th percentile, and in the 52nd percentile within NY. Charities of a similar size with the same main cause include Tallassee Volunteer Firefighters Association and Fire Company Inc ($211k), Bristol Regional Medical Center Auxiliary Inc ($211k) and Grasslands Housing Inc ($211k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% and program service revenue 2.9% of the total. Other salaries and wages came to $110k. At year end it held assets of $756k against liabilities of $0, net assets of $756k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.