Chincoteague Island Library Inc

Analysis

Chincoteague Island Library Inc is a registered charity in United States, based in Chincoteague, VA. It received its IRS tax-exemption ruling in May 1995, 31 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 December 2023, Chincoteague Island Library Inc reported income of $71k and spending of $41k, leaving 42% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $43k to $71k (+66%), an average of +14% a year. The sharpest change came in the year to December 2020, when income rose by 181%. Over the whole period it spent 47% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Chincoteague Island Library Inc sits at the 30th percentile: it is larger than about 30% of them. Against every charity in United States with reported income it ranks in the 28th percentile, and in the 27th percentile within VA. Charities of a similar size with the same main cause include Kirkwood School District Parent Teacher Organizational Council ($71k), Glen Arden Parent Teacher Organization ($71k) and Hazelwood Elementary PTA ($71k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 64% and program service revenue 5.0% of the total. At year end it held assets of $941k against liabilities of $5, net assets of $941k.