Coldspring Area Public Library Inc

Analysis

Coldspring Area Public Library Inc is a registered charity in United States, based in Coldspring, TX. It received its IRS tax-exemption ruling in April 1986, 40 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Coldspring Area Public Library Inc reported income of $74k and spending of $79k, spending 106% of what it took in. Across the 5 years on record, from December 2018 to December 2023, income grew from $52k to $74k (+43%), an average of +9.4% a year. The sharpest change came in the year to December 2023, when income rose by 37%. Over the whole period it spent 132% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Coldspring Area Public Library Inc sits at the 29th percentile: it is larger than about 29% of them. Against every charity in United States with reported income it ranks in the 29th percentile, and in the 31st percentile within TX. Charities of a similar size with the same main cause include PTA California Congress of Parents Teachers & Students Inc ($74k), Cape May Fund ($74k) and Omaha Symphonic Chorus ($74k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 90% and program service revenue 9.3% of the total. Compensation of current officers, directors and key employees was $16k (20% of expenses). Other salaries and wages came to $14k. At year end it held assets of $434k against liabilities of $0, net assets of $434k. It reported 4 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.