Amagansett Free Library

Analysis

Amagansett Free Library is a registered charity in United States, based in Amagansett, NY. It received its IRS tax-exemption ruling in March 1980, 46 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 December 2023, Amagansett Free Library reported income of $1.3m and spending of $1.2m, spending 89% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.1m to $1.3m (+18%), an average of +4.1% a year. Over the whole period it spent 95% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Amagansett Free Library sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 79th percentile within NY. Charities of a similar size with the same main cause include Academic Institute of Central Carolina Inc ($1.3m), Haskell Foundation ($1.3m) and South Carolina Music Educators Association ($1.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% and program service revenue 0.1% of the total. Compensation of current officers, directors and key employees was $121k (10% of expenses). Other salaries and wages came to $383k. At year end it held assets of $3.3m against liabilities of $887k, net assets of $2.4m. It reported 12 employees.