Queens Library Foundation Inc

Analysis

Queens Library Foundation Inc is a registered charity in United States, based in Jamaica, NY. It received its IRS tax-exemption ruling in August 1990, 36 years ago. 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, Queens Library Foundation Inc reported income of $2.7m and spending of $4.7m, spending 170% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.5m to $2.7m (+10%), an average of +2.4% a year. The sharpest change came in the year to June 2022, when income rose by 72%. Over the whole period it spent 111% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Queens Library Foundation Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 85th percentile within NY. Charities of a similar size with the same main cause include Shasta County Child Abuse Prevention Coordinating Council ($2.7m), American Association of Cardiovascular & Pulmonary Rehab ($2.7m) and Habitat for Humanity of Dutchess County Inc ($2.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 73% of the total. Compensation of current officers, directors and key employees was $373k (8.0% of expenses). Other salaries and wages came to $478k. It paid $171k in professional fundraising fees. At year end it held assets of $22.3m against liabilities of $302k, net assets of $22.0m.