New Waverly Public Library Inc

Analysis

New Waverly Public Library Inc is a registered charity in United States, based in New Waverly, TX. It received its IRS tax-exemption ruling in May 1996, 30 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, New Waverly Public Library Inc reported income of $73k and spending of $95k, spending 130% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $70k to $73k (+4.6%), an average of +1.1% a year. The sharpest change came in the year to December 2020, when income rose by 38%. Over the whole period it spent 110% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, New Waverly Public Library Inc sits at the 31st percentile: it is larger than about 31% of them. Against every charity in United States with reported income it ranks in the 29th percentile, and in the 30th percentile within TX. Charities of a similar size with the same main cause include Colt Band Boosters Inc ($73k), Haymarket Elementary PTO ($73k) and Children Ferst Foundation of Morgan County Inc ($73k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 73% and program service revenue 12% of the total. At year end it held assets of $390k against liabilities of $2,030, net assets of $388k.

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.