The Trustees of the New York Society Library

Analysis

The Trustees of the New York Society Library is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in August 1934, 92 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, The Trustees of the New York Society Library reported income of $3.6m and spending of $3.8m, spending 106% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $4.6m to $3.6m (-22%), an average of -6.0% a year. The sharpest change came in the year to December 2021, when income rose by 73%. Over the whole period it spent 76% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, The Trustees of the New York Society Library sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 87th percentile within NY. Charities of a similar size with the same main cause include Ronald McDonald House of Dallas Inc ($3.6m), Hospice of Limestone County Incorporated ($3.6m) and Housing Industry Foundation ($3.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 32% and program service revenue 21% of the total. Compensation of current officers, directors and key employees was $165k (4.3% of expenses). Other salaries and wages came to $1.7m. At year end it held assets of $55.3m against liabilities of $463k, net assets of $54.8m. It reported 39 employees.