Prospect Community Library

Analysis

Prospect Community Library is a registered charity in United States, based in Prospect, PA. It received its IRS tax-exemption ruling in March 2017, 9 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Prospect Community Library reported income of $87k and spending of $67k, leaving 23% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $68k to $87k (+28%), an average of +6.3% a year. The sharpest change came in the year to December 2021, when income rose by 24%. Over the whole period it spent 89% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Prospect Community Library sits at the 36th percentile: it is larger than about 36% of them. Against every charity in United States with reported income it ranks in the 33rd percentile, and in the 31st percentile within PA. Charities of a similar size with the same main cause include Tennessee Association of Woodturners Inc ($87k), McDowell Trojans Hockey Club ($87k) and Rudolf Steiner Library Circle of Friends ($87k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $36k (54% of expenses). At year end it held assets of $147k against liabilities of $9,524, net assets of $137k. It reported 2 employees.