Palacios Library Incorporated

Analysis

Palacios Library Incorporated is a registered charity in United States, based in Palacios, TX. It received its IRS tax-exemption ruling in May 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 December 2023, Palacios Library Incorporated reported income of $125k and spending of $165k, spending 132% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $181k to $125k (-31%), an average of -8.8% a year. The sharpest change came in the year to December 2021, when income rose by 44%. 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, Palacios Library Incorporated sits at the 45th percentile: it is larger than about 45% of them. Against every charity in United States with reported income it ranks in the 43rd percentile, and in the 46th percentile within TX. Charities of a similar size with the same main cause include Douglas Anderson Band Boosters Inc ($125k), Digilearn Digital Learning Institute ($125k) and Dyersburg Dyer County Public Library Foundation ($125k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 113% and program service revenue 3.8% of the total. Compensation of current officers, directors and key employees was $37k (22% of expenses). At year end it held assets of $774k against liabilities of $0, net assets of $774k. It reported 19 employees.