Cherry Valley Memorial Library

Analysis

Cherry Valley Memorial Library is a registered charity in United States, based in Cherry Valley, NY. It received its IRS tax-exemption ruling in June 1992, 34 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, Cherry Valley Memorial Library reported income of $64k and spending of $56k, spending 87% of its income. Across the 2 years on record, from December 2022 to December 2023, income fell from $76k to $64k (-16%), an average of -16% a year. The sharpest change came in the year to December 2023, when income dropped by 16%. Over the whole period it spent 76% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Cherry Valley Memorial Library sits at the 25th percentile: it is larger than about 25% of them. Against every charity in United States with reported income it ranks in the 25th percentile, and in the 27th percentile within NY. Charities of a similar size with the same main cause include Vero Beach Police Benevolent Association Inc ($64k), Walnut Station Booster Club ($64k) and Oklahoma Home and Community Education Inc ($64k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 64% of the total. At year end it held assets of $488k against liabilities of $0, net assets of $488k.