Wilmington Institute Free Library

Analysis

Wilmington Institute Free Library is a registered charity in United States, based in Wilmington, DE. It received its IRS tax-exemption ruling in August 1987, 39 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, Wilmington Institute Free Library reported income of $4.0m and spending of $3.8m, spending 95% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.8m to $4.0m (+45%), an average of +9.8% a year. The sharpest change came in the year to June 2022, when income rose by 22%. Over the whole period it spent 101% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Wilmington Institute Free Library 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 91st percentile, and in the 91st percentile within DE. Charities of a similar size with the same main cause include C S B S Education Foundation ($4.0m), Rio Grande School ($4.0m) and Walhalla Community Hospital Association ($4.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 92% and program service revenue 0.7% of the total. Compensation of current officers, directors and key employees was $127k (3.3% of expenses). Other salaries and wages came to $1.0m. It paid $3,420 in professional fundraising fees. At year end it held assets of $14.6m against liabilities of $2.5m, net assets of $12.1m. It reported 34 employees.