Fred and Harriet Taylor Memorial Library

Analysis

Fred and Harriet Taylor Memorial Library is a registered charity in United States, based in Hammondsport, NY. It received its IRS tax-exemption ruling in May 1993, 33 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, Fred and Harriet Taylor Memorial Library reported income of $214k and spending of $218k, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $184k to $214k (+17%), an average of +4.0% a year. The sharpest change came in the year to December 2021, when income rose by 19%. Over the whole period it spent 116% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Fred and Harriet Taylor Memorial Library sits at the 54th percentile: it is larger than about 54% of them. Against every charity in United States with reported income it ranks in the 55th percentile, and in the 53rd percentile within NY. Charities of a similar size with the same main cause include Yucaipa Swim Team Inc ($214k), Dubois Area Food Pantry Inc ($214k) and Nami Nebraska ($214k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 74% and program service revenue 0.5% of the total. Other salaries and wages came to $93k. At year end it held assets of $1.5m against liabilities of $7,252, net assets of $1.5m. It reported 5 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.