Carnegie Free Library

Analysis

Carnegie Free Library is a registered charity in United States, based in Beaver Falls, PA. It received its IRS tax-exemption ruling in December 1981, 45 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 Free Library reported income of $202k and spending of $252k, spending 125% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $168k to $202k (+20%), an average of +4.7% a year. The sharpest change came in the year to December 2022, when income rose by 46%. Over the whole period it spent 130% 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 53rd percentile: it is larger than about 53% of them. Against every charity in United States with reported income it ranks in the 54th percentile, and in the 52nd percentile within PA. Charities of a similar size with the same main cause include J & J Apartments Inc ($202k), PTA California Congress of Parents Teachers & Students Inc ($202k) and Poetry Flash ($201k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 87% and program service revenue 5.6% of the total. Other salaries and wages came to $118k. At year end it held assets of $292k against liabilities of $0, net assets of $292k. 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.