Scranton Public Library Albright Memorial Building

Analysis

Scranton Public Library Albright Memorial Building is a registered charity in United States, based in Scranton, PA. It received its IRS tax-exemption ruling in October 1941, 85 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, Scranton Public Library Albright Memorial Building reported income of $3.7m and spending of $3.6m, spending 97% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $3.4m to $3.7m (+6.3%), an average of +1.5% a year. Over the whole period it spent 98% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Scranton Public Library Albright Memorial Building sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 89th percentile within PA. Charities of a similar size with the same main cause include Suffern Free Library ($3.7m), Queensborough Community College Auxiliary Enterprise Assoc Inc ($3.7m) and Chicago Volunteer Legal Services Foundation ($3.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 81% and program service revenue 15% of the total. Compensation of current officers, directors and key employees was $100k (2.8% of expenses). Other salaries and wages came to $1.7m. At year end it held assets of $4.7m against liabilities of $1.0m, net assets of $3.6m. It reported 71 employees.