Potsdam Public Library

Analysis

Potsdam Public Library is a registered charity in United States, based in Potsdam, NY. It received its IRS tax-exemption ruling in April 2009, 17 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 June 2023, Potsdam Public Library reported income of $686k and spending of $649k, spending 95% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $846k to $686k (-19%), an average of -5.1% a year. The sharpest change came in the year to June 2022, when income dropped by 28%. Over the whole period it spent 74% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Potsdam Public Library 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 62nd & 65th Regiments Legacy Foundation Inc ($686k), Phillips University Legacy Foundation ($686k) and Elga Credit Union Foundation for Impact ($686k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 12% and program service revenue 87% of the total. Other salaries and wages came to $417k. At year end it held assets of $1.6m against liabilities of $22k, net assets of $1.6m. It reported 14 employees.