Parkesburg Free Library

Analysis

Parkesburg Free Library is a registered charity in United States, based in Parkesburg, PA. It received its IRS tax-exemption ruling in April 1967, 59 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, Parkesburg Free Library reported income of $178k and spending of $195k, spending 110% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $262k to $178k (-32%), an average of -9.2% a year. The sharpest change came in the year to December 2020, when income dropped by 38%. Over the whole period it spent 87% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Parkesburg Free Library sits at the 50th percentile: it is larger than about 50% of them. Against every charity in United States with reported income it ranks in the 51st percentile, and in the 49th percentile within PA. Charities of a similar size with the same main cause include Suburban Alcoholic Foundation ($178k), Laramie Amateur Hockey Club Inc ($178k) and H E L P Inc - Hope Empathy Love and Prayer ($178k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 73% and program service revenue 1.1% of the total. Compensation of current officers, directors and key employees was $45k (23% of expenses). Other salaries and wages came to $53k. At year end it held assets of $1.4m against liabilities of $0, net assets of $1.4m. It reported 10 employees.