Mid-Continent Geological Library Inc

Analysis

Mid-Continent Geological Library Inc is a registered charity in United States, based in Edmond, OK. It received its IRS tax-exemption ruling in June 2016, 10 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Mid-Continent Geological Library Inc reported income of $393k and spending of $584k, spending 149% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $26k to $393k (+1385%), an average of +96% a year. The sharpest change came in the year to December 2020, when income rose by 335%. Over the whole period it spent 307% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Mid-Continent Geological Library Inc sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 67th percentile within OK. Charities of a similar size with the same main cause include Montessori System School of Black ($393k), Jaguar Pride Association Inc ($393k) and Apereo Foundation Incorporated ($393k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 9.1% and program service revenue 84% of the total. Compensation of current officers, directors and key employees was $80k (14% of expenses). Other salaries and wages came to $215k. At year end it held assets of $1.2m against liabilities of $313k, net assets of $845k. It reported 9 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.