Smithtown Library

Analysis

Smithtown Library is a registered charity in United States, based in Nesconset, NY. It received its IRS tax-exemption ruling in May 1978, 48 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 December 2023, Smithtown Library reported income of $16.8m and spending of $16.9m, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $15.2m to $16.8m (+10%), an average of +2.5% a year. Over the whole period it spent 98% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Smithtown Library sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 95th percentile within NY. Charities of a similar size with the same main cause include Wellness West Inc ($16.8m), AIDS Service Association of Pinellas Inc ($16.8m) and Lapuente Home Incorporated ($16.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 96% and program service revenue 0.7% of the total. Compensation of current officers, directors and key employees was $247k (1.5% of expenses). Other salaries and wages came to $7.2m. At year end it held assets of $40.4m against liabilities of $50.9m, net assets of -$10.5m. It reported 173 employees.