Community Libraries of Providence

Analysis

Community Libraries of Providence is a registered charity in United States, based in Providence, RI. It received its IRS tax-exemption ruling in June 2009, 17 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 June 2023, Community Libraries of Providence reported income of $5.8m and spending of $6.4m, spending 110% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $6.0m to $5.8m (-3.2%), an average of -0.8% a year. Over the whole period it spent 100% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Community Libraries of Providence sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 90th percentile within RI. Charities of a similar size with the same main cause include George Stevens Academy ($5.8m), Heritage Community Charter School Inc ($5.8m) and Tools of the Mind ($5.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% and program service revenue 0.4% of the total. Compensation of current officers, directors and key employees was $116k (1.8% of expenses). Other salaries and wages came to $3.3m. At year end it held assets of $3.5m against liabilities of $358k, net assets of $3.2m.