Central Minnesota Libraries Exchange

Analysis

Central Minnesota Libraries Exchange is a registered charity in United States, based in Cambridge, MN. It received its IRS tax-exemption ruling in December 1984, 42 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 June 2023, Central Minnesota Libraries Exchange reported income of $182k and spending of $136k, leaving 25% of income unspent that year. Across the 2 years on record, from June 2020 to June 2023, income fell from $219k to $182k (-17%), an average of -17% a year. The sharpest change came in the year to June 2023, when income dropped by 17%. Over the whole period it spent 80% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Central Minnesota Libraries Exchange sits at the 50th percentile: it is larger than about 50% of them. Against every charity in United States with reported income it ranks in the 52nd percentile, and in the 50th percentile within MN. Charities of a similar size with the same main cause include The Grandmother Collective Inc ($182k), Lieutenant Paul J Sullivan Charitable Trust ($182k) and Big Brothers Big Sisters of Finney County Inc ($182k).

On its Form 990-EZ for the period ending June 2023, revenue came from contributions and grants 98% of the total. At year end it held assets of $396k against liabilities of $0, net assets of $396k.