Lake County Public Library

Analysis

Lake County Public Library is a registered charity in United States, based in Merrillville, IN. It received its IRS tax-exemption ruling in October 1971, 55 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, Lake County Public Library reported income of $14.0m and spending of $14.1m, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $14.3m to $14.0m (-1.7%), an average of -0.4% a year. Over the whole period it spent 96% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Lake County Public Library sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within IN. Charities of a similar size with the same main cause include The Opportunity Trust ($14.0m), Federal Student Scholarship Organization ($14.0m) and The Bismarck State College Foundation ($14.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.8% and program service revenue 1.9% of the total. Compensation of current officers, directors and key employees was $127k (0.9% of expenses). Other salaries and wages came to $602k. At year end it held assets of $39.8m against liabilities of $0, net assets of $39.8m. It reported 190 employees.