Brooklyn Public Library

Analysis

Brooklyn Public Library is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in October 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 2023, Brooklyn Public Library reported income of $163.2m and spending of $164.3m, spending 101% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $160.2m to $163.2m (+1.8%), an average of +0.5% a year. Over the whole period it spent 88% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Brooklyn Public Library sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 99th percentile within NY. Charities of a similar size with the same main cause include John Carroll University ($162.3m), Philadelphia University ($163.5m) and Uncommon New York City Charter Schools ($162.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 98% and program service revenue 0.5% of the total. Compensation of current officers, directors and key employees was $1.7m (1.1% of expenses). Other salaries and wages came to $75.3m. At year end it held assets of $209.5m against liabilities of $51.0m, net assets of $158.6m. It reported 1,662 employees.