Lexington Public Library

Analysis

Lexington Public Library is a registered charity in United States, based in Lexington, KY. It received its IRS tax-exemption ruling in January 1975, 51 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, Lexington Public Library reported income of $23.2m and spending of $17.5m, leaving 24% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $17.9m to $23.2m (+30%), an average of +6.7% a year. The sharpest change came in the year to June 2023, when income rose by 23%. Over the whole period it spent 85% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Lexington Public Library sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within KY. Charities of a similar size with the same main cause include Pulaski Academy ($23.2m), Community Partnership for Child Development ($23.2m) and Belmont Charter School ($23.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 95% and program service revenue 1.8% of the total. Compensation of current officers, directors and key employees was $333k (1.9% of expenses). Other salaries and wages came to $6.7m. At year end it held assets of $66.3m against liabilities of $38.5m, net assets of $27.9m. It reported 229 employees.