Norwood Library Association Inc

Analysis

Norwood Library Association Inc is a registered charity in United States, based in Norwood, NJ. It received its IRS tax-exemption ruling in June 1979, 47 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, Norwood Library Association Inc reported income of $523k and spending of $477k, spending 91% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $830k to $523k (-37%), an average of -11% a year. The sharpest change came in the year to December 2020, when income dropped by 45%. Over the whole period it spent 93% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Norwood Library Association Inc sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 75th percentile within NJ. Charities of a similar size with the same main cause include Abilene Housing Inc ($523k), LA Serena Housing Development Corporation ($523k) and St Pius X Housing Inc Dolan Manor ($523k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $93k (20% of expenses). Other salaries and wages came to $87k. At year end it held assets of $847k against liabilities of $0, net assets of $847k. It reported 13 employees.