Penn Yan Public Library

Analysis

Penn Yan Public Library is a registered charity in United States, based in Penn Yan, NY. It received its IRS tax-exemption ruling in December 1977, 49 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 2024, Penn Yan Public Library reported income of $748k and spending of $784k, spending 105% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $739k to $748k (+1.2%), an average of +0.3% a year. The sharpest change came in the year to June 2021, when income rose by 23%. Over the whole period it spent 101% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Penn Yan Public Library sits at the 73rd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 72nd percentile within NY. Charities of a similar size with the same main cause include Kupenda for the Children ($748k), Library Endowment Trust ($748k) and New England Basecamp ($747k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 1.1% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $77k (9.9% of expenses). Other salaries and wages came to $377k. At year end it held assets of $1.5m against liabilities of $303k, net assets of $1.2m. It reported 15 employees.