Prince Georges County Memorial Library System

Analysis

Prince Georges County Memorial Library System is a registered charity in United States, based in Largo, MD. It received its IRS tax-exemption ruling in October 1979, 47 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, Prince Georges County Memorial Library System reported income of $38.7m and spending of $45.4m, spending 117% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $33.4m to $38.7m (+16%), an average of +3.8% a year. Over the whole period it spent 109% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Prince Georges County Memorial Library System sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within MD. Charities of a similar size with the same main cause include Amethod Public Schools ($38.7m), Vista Charter Public Schools ($38.7m) and Cora Services Inc ($38.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% and program service revenue 1.4% of the total. Compensation of current officers, directors and key employees was $2.1m (4.5% of expenses). Other salaries and wages came to $17.9m. At year end it held assets of $19.1m against liabilities of $57.8m, net assets of -$38.7m. It reported 347 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.