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Kennett Library

Tax-deductible

Kennett Sq, PA501(c)(3)Since 1895 EIN 23-1547585Revenue $6.8M in FY2024

On file with the IRSkennettlibrary.orgPo Box 730, 19348-0730 · Kennett Sq, PATax-exempt since Jun 1958Publicly supported — 509(a)(2)

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The mission of the Kennett Library is to provide Library services to its established service area.

501(c)(3) charity; gifts are tax-deductible.
71¢ of each $1 spent went to programs.
Run by 245 volunteers and 25 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $2.9M a year · 66% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
71%
of spending
Fine: 71% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
3 mo
of spending, in cash
Plus $917K in investments, Pt X · Ln 11–13
Looks good: 3.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $200
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$1.4M
6% of total assets
Looks good: liabilities are 6% of assets; 50% or less.
Pt X · Ln 26
Independent board members
18
of 18 voting members
Looks good: 18 of 18 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$6.8M
+40% vs prior year
Spent
$2.7M
To programs
71%
Net assets
$20.6M
By yearFY2020–FY2024
Revenue
$6.8M
FY2024▲ +40%
Tap a bar for its year
Revenue by fiscal year
FY2020$2.1M
FY2021$4.5M
FY2022$4.0M
FY2023$4.8M
FY2024$6.8M
Expenses
$2.7M
FY2024▲ +58%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.0M
FY2021$1.0M
FY2022$1.1M
FY2023$1.7M
FY2024$2.7M
Net assets
$20.6M
FY2024▲ +24%
Tap a bar for its year
Net assets by fiscal year
FY2020$7.3M
FY2021$11.1M
FY2022$13.6M
FY2023$16.6M
FY2024$20.6M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jun 1958.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

71 cents of each dollar spent went to programs.

Program services 71% · $1.9M Management & general 15% · $413K Fundraising 14% · $368K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

18 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Dr Loren Pearson
Vice Preside
$0Pt VII · Sec A
Lee Sausen
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Todd Bruce
Trustee
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Kennett Library executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Offers library services to its community.

Questions for Kennett Library

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Provided by the organization

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1 program · $1.9M · in their own filed words · FY2024
01

The kennett library serves residents in eight municipalities (east marlborough, kennett square, kennett township, new garden, newlin, pennsbury, pocopson, west marlborough) in southern chester county.

$1.9Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2025
Sharp FoundationFY2025$200
Total grants receivedfrom 1 funder$200

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$6.8M
Ln 12
Gifts and grantsLn 1h$6.5M
Investment incomeLn 3$174K
Fees for servicesLn 2g$91K
Money outPt IX
$2.7M
Ln 25
Programscol B$1.9M
Managementcol C$413K
Fundraisingcol D$368K
Owns and owesPt X
$20.6M
net assets · Ln 32
Cash and savingsLn 1–2$767K
Total assetsLn 16$22.0M
LiabilitiesLn 26$1.4M
PeoplePt VI, VII
18
listed · VII A
PaidVII A0
Voting boardVI 1a18
IndependentVI 1b18
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$6.5M
Government grantsLn 1e$686K
Noncash giftsLn 1g$144K
Fundraising eventsLn 1c$18K
Fees for servicesLn 2g$91K
Investment incomeLn 3$174K
Other incomeLn 4–11$41K
Gains on assetsLn 7$146K
Total revenueLn 12$6.8M
Assets in detailPt X, end of year
CashLn 1$100K
SavingsLn 2$667K
Cash and savings togetherLn 1–2$767K
InvestmentsLn 11–13$917K
Land, buildings, equipmentLn 10c$20.3M
Other assetsLn 15$53K
Total assetsLn 16$22.0M
LiabilitiesLn 26$1.4M
Net assetsLn 32$20.6M
OperationsPt I, VI
EmployeesI 525
VolunteersI 6245
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$427K$767K
InvestmentsLn 11–13$900K$917K
Land, buildings, equipmentLn 10c$19.6M$20.3M
Total assetsLn 16$21.0M$22.0M
LiabilitiesLn 26$4.4M$1.4M
Net assetsLn 32$16.6M$20.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$102K$87K$10K$5K
Other salaries and wagesLn 7$885K$802K$39K$44K
Pension plan contributionsLn 8$38K$34K$2K$2K
Other employee benefitsLn 9$79K$72K$4K$4K
Payroll taxesLn 10$86K$78K$4K$4K
Legal feesLn 11b$13K$12K$675$675
Accounting feesLn 11c$10K$10K
Other fees for servicesLn 11g$244K$124$499$243K
Advertising and promotionLn 12$7K$942$6K
Office expensesLn 13$14K$3K$673$10K
OccupancyLn 16$95K$89K$5K$1K
TravelLn 17$124$2$122
Conferences, conventions and meetingsLn 19$3K$3K
InterestLn 20$252K$252K
Depreciation, depletion and amortizationLn 22$550K$467K$55K$27K
InsuranceLn 23$14K$14K$714
Other expenses (24a–d)Ln 24$250K$231K$16K$2K
All other expensesLn 24e$44K$17K$9K$18K
Total functional expensesLn 25$2.7M$1.9M$413K$368K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $6.8M$2.7M$4.1M$20.6M 990 PDF
FY2023 $4.8M$1.7M$3.1M$16.6M 990 PDF
FY2022 $4.0M$1.1M$3.0M$13.6M 990 PDF
FY2021 $4.5M$1.0M$3.5M$11.1M 990 PDF
FY2020 $2.1M$1.0M$1.1M$7.3M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support M · Noncash O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $6,767,254 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $3,390,146$6,461,532
I-9 Program service revenuePrior year $39,346$90,709
I-10 Investment incomePrior year $1,375,351$173,865
I-11 Other revenuePrior year $35,640$41,148
I-12 Total revenuePrior year $4,840,483$6,767,254
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $988,806$1,190,389
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $710,745$1,495,551
I-18 Total expensesPrior year $1,699,551$2,685,940
I-19 Revenue less expensesPrior year $3,140,932$4,081,314
Part VI · Governance 18 of 18 board members independent, no flags
VI-1a Voting members of the governing body18
VI-1b Independent voting members18
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $6,767,254 across 11 lines filed
VIII-1a Federated campaigns$34,690
VIII-1c Fundraising events$18,000
VIII-1e Government grants$685,855
VIII-1f All other contributions, gifts and grants$5,722,987
VIII-1g Noncash contributions (included above)$144,044
VIII-1h Total contributions, gifts and grants$6,461,532
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $90,709$90,709
VIII-3 Investment incomeExcluded from tax $27,869$27,869
VIII-7 Net gain or loss on sales of assetsRelated to mission $145,996$145,996
VIII-8 Net income from fundraising events$41,148
VIII-12 Total revenueRelated to mission $236,705 · Excluded from tax $27,869$6,767,254
Part IX · Statement of functional expenses $2,685,940 across 18 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $86,708 · Management $10,201 · Fundraising $5,100$102,009
IX-7 Other salaries and wagesPrograms $801,754 · Management $39,158 · Fundraising $44,259$885,171
IX-8 Pension plan contributionsPrograms $33,799 · Management $1,878 · Fundraising $1,878$37,555
IX-9 Other employee benefitsPrograms $71,522 · Management $3,973 · Fundraising $3,973$79,468
IX-10 Payroll taxesPrograms $77,568 · Management $4,309 · Fundraising $4,309$86,186
IX-11b Legal feesPrograms $12,145 · Management $675 · Fundraising $675$13,495
IX-11c Accounting feesManagement $10,353$10,353
IX-11g Other fees for servicesPrograms $124 · Management $499 · Fundraising $243,058$243,681
IX-12 Advertising and promotionPrograms $942 · Fundraising $6,103$7,045
IX-13 Office expensesPrograms $2,694 · Management $673 · Fundraising $10,165$13,532
IX-16 OccupancyPrograms $89,087 · Management $4,760 · Fundraising $1,341$95,188
IX-17 TravelPrograms $2 · Management $122$124
IX-19 Conferences, conventions and meetingsManagement $2,747$2,747
IX-20 InterestManagement $252,315$252,315
IX-22 Depreciation, depletion and amortizationPrograms $467,205 · Management $54,965 · Fundraising $27,483$549,653
IX-23 InsurancePrograms $13,564 · Management $714$14,278
IX-24 Other expenses (24a–d)Programs $231,106 · Management $16,457 · Fundraising $1,981$249,544
IX-24e All other expensesPrograms $16,886 · Management $8,969 · Fundraising $17,741$43,596
IX-25 Total functional expensesPrograms $1,905,106 · Management $412,768 · Fundraising $368,066$2,685,940
Part X · Balance sheet $22,000,520 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $32,740$100,220
X-2 Savings and temporary cash investmentsStart of year $394,233$667,204
X-4 Accounts receivable$12,689
X-10c Land, buildings and equipment, netStart of year $19,614,691$20,250,134
X-11 Publicly traded securitiesStart of year $899,830$916,898
X-15 Other assetsStart of year $53,375$53,375
X-16 Total assetsStart of year $20,994,869$22,000,520
X-17 Accounts payable and accrued expensesStart of year $9,682$593
X-26 Total liabilitiesStart of year $4,400,477$1,399,600
X-27 Net assets without donor restrictionsStart of year $16,344,419$20,600,920
X-32 Total net assets or fund balancesStart of year $16,594,392$20,600,920
X-33 Total liabilities and net assetsStart of year $20,994,869$22,000,520
Part XI · Reconciliation of net assets $20,600,920 net assets at year end
XI-1 Total revenue$6,767,254
XI-2 Total expenses$2,685,940
XI-3 Revenue less expenses$4,081,314
XI-4 Net assets at start of year$16,594,392
XI-5 Net unrealized gains (losses) on investments−$72,084
XI-7 Investment expenses−$2,702
XI-10 Net assets at end of year$20,600,920

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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