Community Library Inc

Analysis

Community Library Inc is a registered charity in United States, based in Kilmarnock, VA. It received its IRS tax-exemption ruling in March 1962, 64 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, Community Library Inc reported income of $850k and spending of $914k, spending 107% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $1.2m to $850k (-29%), an average of -8.2% a year. The sharpest change came in the year to June 2021, when income rose by 40%. Over the whole period it spent 83% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Community Library Inc sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 78th percentile within VA. Charities of a similar size with the same main cause include Southeastern Early College & Career Academy Inc ($850k), Friends of Payton Association ($851k) and Concordia University Foundation ($850k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 59% and program service revenue 7.3% of the total. Compensation of current officers, directors and key employees was $85k (9.3% of expenses). Other salaries and wages came to $270k. It paid $14k in professional fundraising fees. At year end it held assets of $9.1m against liabilities of $70k, net assets of $9.0m. It reported 25 employees.