Allegany County Library

Analysis

Allegany County Library is a registered charity in United States, based in Cumberland, MD. It received its IRS tax-exemption ruling in October 1952, 74 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, Allegany County Library reported income of $3.1m and spending of $2.5m, spending 81% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.3m to $3.1m (+39%), an average of +8.5% a year. The sharpest change came in the year to June 2022, when income rose by 43%. Over the whole period it spent 74% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Allegany County Library sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 88th percentile within MD. Charities of a similar size with the same main cause include A Schools Pittsburghs Community Alliance for Public Education ($3.1m), Institute of Human Behavior Research and Education ($3.1m) and Seven Arrows Inc ($3.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 97% of the total. Other salaries and wages came to $1.1m. At year end it held assets of $9.7m against liabilities of $375k, net assets of $9.3m. It reported 48 employees.