Adams Memorial Library

Analysis

Adams Memorial Library is a registered charity in United States, based in Latrobe, PA. It received its IRS tax-exemption ruling in July 1949, 77 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, Adams Memorial Library reported income of $639k and spending of $737k, spending 115% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $733k to $639k (-13%), an average of -3.3% a year. The sharpest change came in the year to December 2021, when income rose by 32%. Over the whole period it spent 90% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Adams Memorial Library sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 72nd percentile within PA. Charities of a similar size with the same main cause include Victorian Woods Senior Living Inc ($639k), Textbook & Academic Authors Association Inc ($640k) and Grunewald Guild ($639k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 55% of the total. Other salaries and wages came to $443k. At year end it held assets of $6.7m against liabilities of $13k, net assets of $6.7m. It reported 22 employees.