Kennett Library

Analysis

Kennett Library is a registered charity in United States, based in Kennett SQ, PA. It received its IRS tax-exemption ruling in June 1958, 68 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Kennett Library reported income of $4.8m and spending of $1.7m, leaving 65% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.5m to $4.8m (+94%), an average of +18% a year. The sharpest change came in the year to December 2021, when income rose by 111%. Over the whole period it spent 33% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Kennett Library sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 90th percentile within PA. Charities of a similar size with the same main cause include Ankeny Christian Academy ($4.8m), New England Adolescent Research Institute Inc ($4.8m) and New Mexico Primary Medical Care ($4.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 70% and program service revenue 0.8% of the total. Compensation of current officers, directors and key employees was $91k (5.4% of expenses). Other salaries and wages came to $690k. At year end it held assets of $23.0m against liabilities of $6.4m, net assets of $16.6m. It reported 39 employees.