Somerset County Federated Library System Inc

Analysis

Somerset County Federated Library System Inc is a registered charity in United States, based in Somerset, PA. It received its IRS tax-exemption ruling in February 1999, 27 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Somerset County Federated Library System Inc reported income of $435k and spending of $455k, spending 105% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $394k to $435k (+11%), an average of +2.5% a year. The sharpest change came in the year to December 2021, when income dropped by 31%. Over the whole period it spent 102% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Somerset County Federated Library System Inc sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 66th percentile within PA. Charities of a similar size with the same main cause include National Hispanic Foundation for the Arts ($435k), The Place for Learning Inc ($436k) and Advertising Club of New York Foundation Inc ($435k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $100k. At year end it held assets of $122k against liabilities of $0, net assets of $122k. It reported 6 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.