Madison County Library Incorporated

Analysis

Madison County Library Incorporated is a registered charity in United States, based in Madison, VA. It received its IRS tax-exemption ruling in June 1968, 58 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, Madison County Library Incorporated reported income of $372k and spending of $326k, spending 88% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $364k to $372k (+2.2%), an average of +0.4% a year. The sharpest change came in the year to June 2020, when income dropped by 29%. Over the whole period it spent 87% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Madison County Library Incorporated sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 65th percentile within VA. Charities of a similar size with the same main cause include Columbia School Linguistic Society Inc ($372k), Clothesline for Arlington Kids ($372k) and Build Lincoln Higher Booster Club ($372k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 90% and program service revenue 1.0% of the total. Compensation of current officers, directors and key employees was $73k (22% of expenses). Other salaries and wages came to $87k. At year end it held assets of $1.1m against liabilities of $5,777, net assets of $1.1m. It reported 9 employees.