Friends of the Montauk Library

Analysis

Friends of the Montauk Library is a registered charity in United States, based in Montauk, NY. It received its IRS tax-exemption ruling in April 1984, 42 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending July 2024, Friends of the Montauk Library reported income of $53k and spending of $56k, spending 107% of what it took in. Across the 2 years on record, from July 2023 to July 2024, income fell from $57k to $53k (-6.4%), an average of -6.4% a year. Over the whole period it spent 116% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Friends of the Montauk Library sits at the 20th percentile: it is larger than about 20% of them. Against every charity in United States with reported income it ranks in the 21st percentile, and in the 23rd percentile within NY. Charities of a similar size with the same main cause include Habitat for Humanity International Inc ($53k), Merced Breakfast Lions Foundation ($53k) and Laotian Mutual Assistance Association ($53k).

On its Form 990-EZ for the period ending July 2024, revenue came from contributions and grants 54% of the total. At year end it held assets of $86k against liabilities of $0, net assets of $86k.