Library Board of the Borough of Oakmont

Analysis

Library Board of the Borough of Oakmont is a registered charity in United States, based in Oakmont, PA. It received its IRS tax-exemption ruling in September 1979, 47 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, Library Board of the Borough of Oakmont reported income of $674k and spending of $627k, spending 93% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.3m to $674k (-47%), an average of -15% a year. The sharpest change came in the year to December 2020, when income dropped by 58%. 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, Library Board of the Borough of Oakmont sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 73rd percentile within PA. Charities of a similar size with the same main cause include Jewish Family Service of Nashville and Middle Tenn Inc ($674k), Crater Foundation ($674k) and Prince Street Neighborhood Project Inc ($674k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 89% and program service revenue 1.9% of the total. Compensation of current officers, directors and key employees was $78k (12% of expenses). Other salaries and wages came to $182k. At year end it held assets of $1.0m against liabilities of $0, net assets of $1.0m.