Palmyra Community Library

Analysis

Palmyra Community Library is a registered charity in United States, based in Palmyra, NY. It received its IRS tax-exemption ruling in June 2011, 15 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Palmyra Community Library reported income of $357k and spending of $401k, spending 112% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $337k to $357k (+6.1%), an average of +1.5% a year. The sharpest change came in the year to December 2022, when income dropped by 20%. Over the whole period it spent 108% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Palmyra Community Library sits at the 63rd percentile: it is larger than about 63% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 61st percentile within NY. Charities of a similar size with the same main cause include Fort Bend Forward Inc ($357k), The Arc Susquehanna Valley ($357k) and Maine Center Ventures ($357k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 5.2% and program service revenue 95% of the total. Compensation of current officers, directors and key employees was $67k (17% of expenses). Other salaries and wages came to $123k. At year end it held assets of $1.7m against liabilities of $0, net assets of $1.7m. It reported 13 employees.