Locust Valley Library

Analysis

Locust Valley Library is a registered charity in United States, based in Locust Valley, NY. It received its IRS tax-exemption ruling in November 1965, 61 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 June 2024, Locust Valley Library reported income of $1.8m and spending of $1.7m, spending 94% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $1.6m to $1.8m (+15%), an average of +3.5% a year. The sharpest change came in the year to June 2021, when income rose by 25%. Over the whole period it spent 98% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Locust Valley Library sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 82nd percentile within NY. Charities of a similar size with the same main cause include Nerstrand Elementary School ($1.8m), Harvest Christian School ($1.8m) and Hawaii Childrens Action Network ($1.8m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 91% and program service revenue 4.4% of the total. Compensation of current officers, directors and key employees was $106k (6.2% of expenses). Other salaries and wages came to $772k. At year end it held assets of $4.5m against liabilities of $3.0m, net assets of $1.5m. It reported 28 employees.