New Hartford Public Library

Analysis

New Hartford Public Library is a registered charity in United States, based in New Hartford, NY. It received its IRS tax-exemption ruling in March 1977, 49 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, New Hartford Public Library reported income of $389k and spending of $545k, spending 140% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $390k to $389k (-0.2%), an average of -0.1% a year. The sharpest change came in the year to December 2022, when income rose by 23%. Over the whole period it spent 147% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, New Hartford Public Library sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 62nd percentile within NY. Charities of a similar size with the same main cause include Vashon Maury Island Heritage Association ($389k), Minnesota Voters Alliance ($389k) and Community Council of Warren County Inc ($389k).

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. Compensation of current officers, directors and key employees was $65k (12% of expenses). Other salaries and wages came to $175k. At year end it held assets of $1.9m against liabilities of $115k, net assets of $1.8m. It reported 16 employees.

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.