Benson Memorial Library Inc

Analysis

Benson Memorial Library Inc is a registered charity in United States, based in Titusville, PA. It received its IRS tax-exemption ruling in December 1988, 38 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, Benson Memorial Library Inc reported income of $523k and spending of $381k, leaving 27% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $629k to $523k (-17%), an average of -4.5% a year. The sharpest change came in the year to December 2022, when income dropped by 23%. Over the whole period it spent 58% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Benson Memorial Library Inc sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 69th percentile within PA. Charities of a similar size with the same main cause include National Church Residences of Shaler Pa ($523k), Patchwork Central Inc ($523k) and Blue Ridge Fellows Program Inc ($523k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 81% and program service revenue 1.5% of the total. Compensation of current officers, directors and key employees was $60k (16% of expenses). Other salaries and wages came to $177k. At year end it held assets of $3.3m against liabilities of $7,463, net assets of $3.3m. It reported 9 employees.