Oceanside Library

Analysis

Oceanside Library is a registered charity in United States, based in Oceanside, NY. It received its IRS tax-exemption ruling in May 1979, 47 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 2023, Oceanside Library reported income of $7.7m and spending of $7.5m, spending 97% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $4.8m to $7.7m (+60%), an average of +17% a year. The sharpest change came in the year to June 2021, when income rose by 44%. Over the whole period it spent 92% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Oceanside Library sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 92nd percentile within NY. Charities of a similar size with the same main cause include Reading League ($7.7m), Evolution Academy ($7.7m) and Franklin Christian Academy ($7.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 91% and program service revenue 0.1% of the total. Compensation of current officers, directors and key employees was $143k (1.9% of expenses). Other salaries and wages came to $2.6m. At year end it held assets of $47.2m against liabilities of $44.5m, net assets of $2.8m. It reported 67 employees.