Corbit Calloway Memorial Library

Analysis

Corbit Calloway Memorial Library is a registered charity in United States, based in Odessa, DE. It received its IRS tax-exemption ruling in February 1954, 72 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 2024, Corbit Calloway Memorial Library reported income of $543k and spending of $516k, spending 95% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $355k to $543k (+53%), an average of +8.9% a year. The sharpest change came in the year to June 2023, when income rose by 140%. Over the whole period it spent 79% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Corbit Calloway Memorial Library sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 66th percentile within DE. Charities of a similar size with the same main cause include Three Hierarchs Academy Inc ($543k), Wedgwood Academy ($544k) and Ft Caroline Baptist Academy Inc ($543k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 68% and program service revenue 0.2% of the total. Other salaries and wages came to $285k. At year end it held assets of $4.0m against liabilities of $861, net assets of $4.0m. It reported 12 employees.