Riverhead Free Library

Analysis

Riverhead Free Library is a registered charity in United States, based in Riverhead, NY. It received its IRS tax-exemption ruling in September 1959, 67 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, Riverhead Free Library reported income of $4.9m and spending of $4.2m, spending 86% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $4.0m to $4.9m (+21%), an average of +3.9% a year. 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, Riverhead Free 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 92nd percentile, and in the 89th percentile within NY. Charities of a similar size with the same main cause include Royal School System ($4.9m), Kenmore Preparatory Academy ($4.9m) and Montlake Futures Fund ($4.9m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 99% and program service revenue 0.8% of the total. Compensation of current officers, directors and key employees was $121k (2.9% of expenses). Other salaries and wages came to $1.7m. At year end it held assets of $9.9m against liabilities of $7.2m, net assets of $2.7m. It reported 68 employees.