Free Library of New Hope & Solebury

Analysis

Free Library of New Hope & Solebury is a registered charity in United States, based in New Hope, PA. It received its IRS tax-exemption ruling in May 1950, 76 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, Free Library of New Hope & Solebury reported income of $337k and spending of $345k, spending 102% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $367k to $337k (-8.3%), an average of -2.1% a year. Over the whole period it spent 91% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Free Library of New Hope & Solebury sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 62nd percentile within PA. Charities of a similar size with the same main cause include Volunteers of America Inc ($337k), The Lake Placid Sinfonietta Inc ($337k) and Pewaukee Lake Sailing School Inc ($337k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 85% and program service revenue 1.5% of the total. Compensation of current officers, directors and key employees was $77k (22% of expenses). Other salaries and wages came to $98k. At year end it held assets of $2.5m against liabilities of $12k, net assets of $2.5m. It reported 7 employees.