Palisades Free Library

Analysis

Palisades Free Library is a registered charity in United States, based in Palisades, NY. It received its IRS tax-exemption ruling in March 1970, 56 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, Palisades Free Library reported income of $516k and spending of $532k, spending 103% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $474k to $516k (+8.7%), an average of +2.1% a year. The sharpest change came in the year to December 2021, when income rose by 20%. Over the whole period it spent 98% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Palisades Free Library sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 67th percentile within NY. Charities of a similar size with the same main cause include Wadsworth Library ($515k), D39c Collaborative ($516k) and Darien Study Center Inc ($515k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% and program service revenue 0.3% of the total. Compensation of current officers, directors and key employees was $104k (20% of expenses). At year end it held assets of $880k against liabilities of $0, net assets of $880k.