Pierpont Morgan Library

Analysis

Pierpont Morgan Library is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in April 1925, 101 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 March 2023, Pierpont Morgan Library reported income of $23.7m and spending of $31.4m, spending 132% of what it took in. Across the 5 years on record, from March 2019 to March 2023, income fell from $35.9m to $23.7m (-34%), an average of -9.8% a year. The sharpest change came in the year to March 2022, when income rose by 129%. Over the whole period it spent 78% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Pierpont Morgan Library sits at the 97th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 96th percentile within NY. Charities of a similar size with the same main cause include Julian Charter School Inc ($23.7m), San Francisco Bay University Inc ($23.7m) and Unity Christian High School Association ($23.7m).

On its Form 990 for the period ending March 2023, revenue came from contributions and grants 44% and program service revenue 18% of the total. Compensation of current officers, directors and key employees was $1.7m (5.5% of expenses). Other salaries and wages came to $10.4m. At year end it held assets of $386.5m against liabilities of $19.5m, net assets of $367.0m. It reported 237 employees.