Newtown Library Company

Analysis

Newtown Library Company is a registered charity in United States, based in Newtown, PA. It received its IRS tax-exemption ruling in December 1940, 86 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 October 2023, Newtown Library Company reported income of $114k and spending of $86k, leaving 25% of income unspent that year. Across the 5 years on record, from October 2019 to October 2023, income grew from $71k to $114k (+61%), an average of +13% a year. The sharpest change came in the year to October 2021, when income rose by 67%. Over the whole period it spent 76% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Newtown Library Company sits at the 40th percentile: it is larger than about 40% of them. Against every charity in United States with reported income it ranks in the 40th percentile, and in the 38th percentile within PA. Charities of a similar size with the same main cause include Tucson Dressage Club ($114k), Fishermens Wives Inc ($114k) and Ridgefield Youth Service Bureau Inc ($114k).

On its Form 990 for the period ending October 2023, revenue came from contributions and grants 45% of the total. Compensation of current officers, directors and key employees was $30k (34% of expenses). At year end it held assets of $1.9m against liabilities of $0, net assets of $1.9m. It reported 1 employees.