Laughlin Memorial Free Library

Analysis

Laughlin Memorial Free Library is a registered charity in United States, based in Ambridge, PA. It received its IRS tax-exemption ruling in September 1987, 39 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, Laughlin Memorial Free Library reported income of $1.0m and spending of $728k, leaving 28% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $259k to $1.0m (+293%), an average of +41% a year. The sharpest change came in the year to December 2023, when income rose by 185%. Over the whole period it spent 75% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Laughlin Memorial Free Library sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 78th percentile within PA. Charities of a similar size with the same main cause include Thunderbird Clubhouse Board Inc ($1.0m), San Antonio Christian Dental Clinic Inc ($1.0m) and Council of Engineering and Scientific Society Executives ($1.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 94% and program service revenue 0.6% of the total. Compensation of current officers, directors and key employees was $52k (7.2% of expenses). Other salaries and wages came to $65k. At year end it held assets of $5.2m against liabilities of $1,890, net assets of $5.2m. It reported 10 employees.