Carnegie Library of Homestead

Analysis

Carnegie Library of Homestead is a registered charity in United States, based in Munhall, PA. It received its IRS tax-exemption ruling in May 1982, 44 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, Carnegie Library of Homestead reported income of $4.0m and spending of $1.8m, leaving 56% of income unspent that year. Across the 5 years on record, from December 2018 to December 2023, income grew from $1.4m to $4.0m (+177%), an average of +29% a year. The sharpest change came in the year to December 2019, when income rose by 129%. Over the whole period it spent 49% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Carnegie Library of Homestead 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 91st percentile, and in the 89th percentile within PA. Charities of a similar size with the same main cause include Hospitaler Sisters of Mercy ($4.0m), Scottdale Early Learning Inc ($4.0m) and Hispanic American Organization Inc ($4.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 66% and program service revenue 24% of the total. Compensation of current officers, directors and key employees was $164k (9.3% of expenses). Other salaries and wages came to $517k. At year end it held assets of $13.8m against liabilities of $2.4m, net assets of $11.3m. It reported 28 employees.