Carnegie Free Library

Analysis

Carnegie Free Library is a registered charity in United States, based in Connellsville, PA. It received its IRS tax-exemption ruling in June 1963, 63 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, Carnegie Free Library reported income of $195k and spending of $310k, spending 159% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $226k to $195k (-14%), an average of -3.6% a year. The sharpest change came in the year to December 2020, when income rose by 73%. Over the whole period it spent 116% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Carnegie Free Library sits at the 52nd percentile: it is larger than about 52% of them. Against every charity in United States with reported income it ranks in the 53rd percentile, and in the 51st percentile within PA. Charities of a similar size with the same main cause include Little League Baseball Inc ($195k), Ashland Special Needs Ministry Inc ($195k) and Bridgeport Ladies Charitable Society Inc 105306388100 ($195k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 94% and program service revenue 2.7% of the total. Other salaries and wages came to $115k. At year end it held assets of $1.1m against liabilities of $4,322, net assets of $1.1m. It reported 8 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.