Rye Free Reading Room

Analysis

Rye Free Reading Room is a registered charity in United States, based in Rye, NY. It received its IRS tax-exemption ruling in August 1945, 81 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, Rye Free Reading Room reported income of $2.2m and spending of $2.3m, spending 102% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.8m to $2.2m (+26%), an average of +6.0% a year. The sharpest change came in the year to December 2021, when income rose by 65%. Over the whole period it spent 102% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Rye Free Reading Room sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 84th percentile within NY. Charities of a similar size with the same main cause include Connect to Compete Inc ($2.2m), Maryland Crime Victims Resource Center Inc ($2.2m) and Lorton Community Action Center ($2.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 94% and program service revenue 3.3% of the total. Compensation of current officers, directors and key employees was $278k (12% of expenses). Other salaries and wages came to $763k. At year end it held assets of $5.5m against liabilities of $0, net assets of $5.5m. It reported 29 employees.