John Jermain Memorial Library

Analysis

John Jermain Memorial Library is a registered charity in United States, based in Sag Harbor, NY. It received its IRS tax-exemption ruling in February 1972, 54 years ago. 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, John Jermain Memorial Library reported income of $3.3m and spending of $3.2m, spending 98% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $3.2m to $3.3m (+0.5%), an average of +0.1% a year. Over the whole period it spent 89% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, John Jermain Memorial Library sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 87th percentile within NY. Charities of a similar size with the same main cause include Soil Science Society of America Inc ($3.3m), New York Urban League Inc ($3.3m) and Columbia Memorial Hospital Foundation ($3.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% and program service revenue 0.6% of the total. Compensation of current officers, directors and key employees was $160k (5.0% of expenses). Other salaries and wages came to $942k. At year end it held assets of $20.8m against liabilities of $4.8m, net assets of $16.1m. It reported 24 employees.