Punxsutawney Memorial Library

Analysis

Punxsutawney Memorial Library is a registered charity in United States, based in Punxsutawney, PA. It received its IRS tax-exemption ruling in January 1991, 35 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, Punxsutawney Memorial Library reported income of $154k and spending of $259k, spending 168% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $177k to $154k (-13%), an average of -3.5% a year. The sharpest change came in the year to December 2021, when income rose by 52%. Over the whole period it spent 102% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Punxsutawney Memorial Library sits at the 47th percentile: it is larger than about 47% of them. Against every charity in United States with reported income it ranks in the 48th percentile, and in the 45th percentile within PA. Charities of a similar size with the same main cause include Organization of Chinese-Americans Inc ($154k), Northeast Region of the National Collegiate Honors Council ($154k) and Cow Neck Peninsula Historical Society ($154k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 78% and program service revenue 2.5% of the total. Other salaries and wages came to $105k. At year end it held assets of $1.1m against liabilities of $43, net assets of $1.1m. It reported 9 employees.