Bassett Public Library Association Incorporated

Analysis

Bassett Public Library Association Incorporated is a registered charity in United States, based in Bassett, VA. It received its IRS tax-exemption ruling in March 1975, 51 years ago. 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 September 2023, Bassett Public Library Association Incorporated reported income of $163k and spending of $190k, spending 117% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $157k to $163k (+3.5%), an average of +0.9% a year. The sharpest change came in the year to September 2022, when income rose by 59%. Over the whole period it spent 109% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Bassett Public Library Association Incorporated sits at the 48th percentile: it is larger than about 48% of them. Against every charity in United States with reported income it ranks in the 49th percentile, and in the 49th percentile within VA. Charities of a similar size with the same main cause include Regional Medical Center Foundation ($163k), National Society of the Sons of the American Revolution ($163k) and STEM Advancement Inc ($163k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 60% and program service revenue 0.9% of the total. Other salaries and wages came to $107k. At year end it held assets of $1.5m against liabilities of $2,085, net assets of $1.5m. It reported 5 employees.