Olney Community Library

Analysis

Olney Community Library is a registered charity in United States, based in Olney, TX. It received its IRS tax-exemption ruling in November 1990, 36 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 August 2023, Olney Community Library reported income of $465k and spending of $401k, spending 86% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $249k to $465k (+87%), an average of +17% a year. The sharpest change came in the year to August 2023, when income rose by 76%. Over the whole period it spent 91% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Olney Community Library sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 74th percentile within TX. Charities of a similar size with the same main cause include Conscious Kid ($465k), Sunrise Beach School ($465k) and FC Singers Inc ($465k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 96% and program service revenue 0.7% of the total. Other salaries and wages came to $165k. At year end it held assets of $534k against liabilities of $0, net assets of $534k.