McCord Memorial Library Association

Analysis

McCord Memorial Library Association is a registered charity in United States, based in North East, PA. It received its IRS tax-exemption ruling in January 1955, 71 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, McCord Memorial Library Association reported income of $194k and spending of $378k, spending 195% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $396k to $194k (-51%), an average of -16% a year. The sharpest change came in the year to December 2023, when income dropped by 64%. Over the whole period it spent 76% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, McCord Memorial Library Association 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 Friends of the Gateway School Inc ($194k), Nebraska Juvenile Justice Association Inc ($194k) and Downtown Georgetown Revitalization Association ($194k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 110% and program service revenue 4.9% of the total. At year end it held assets of $3.7m against liabilities of $2,821, net assets of $3.7m. It reported 12 employees.