Mercantile Library Association of the City of New York

Analysis

Mercantile Library Association of the City of New York is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in January 1936, 90 years ago. Its declared purposes cover education, which this site groups under education and training. 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 December 2023, Mercantile Library Association of the City of New York reported income of $2.6m and spending of $3.0m, spending 117% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.1m to $2.6m (+25%), an average of +5.7% a year. The sharpest change came in the year to December 2021, when income rose by 34%. Over the whole period it spent 92% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Mercantile Library Association of the City of New York sits at the 84th percentile: it is larger than about 84% 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 Independent Training and Apprenticeship Program ($2.6m), Midtown Academy Inc ($2.6m) and Imagine Avondale Middle Inc ($2.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 58% and program service revenue 39% of the total. Compensation of current officers, directors and key employees was $409k (14% of expenses). Other salaries and wages came to $1.2m. At year end it held assets of $2.4m against liabilities of $317k, net assets of $2.1m. It reported 50 employees.