Suffern Free Library

Analysis

Suffern Free Library is a registered charity in United States, based in Suffern, NY. It received its IRS tax-exemption ruling in April 1971, 55 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 June 2024, Suffern Free Library reported income of $3.7m and spending of $2.9m, leaving 20% of income unspent that year. Across the 5 years on record, from June 2020 to June 2024, income grew from $3.4m to $3.7m (+7.9%), an average of +1.9% a year. The sharpest change came in the year to June 2023, when income rose by 16%. Over the whole period it spent 83% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Suffern Free 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 Chicago Volunteer Legal Services Foundation ($3.7m), Scranton Public Library Albright Memorial Building ($3.7m) and Hope Rescue Mission of the City of Reading Pa ($3.7m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 89% and program service revenue 1.5% of the total. Compensation of current officers, directors and key employees was $135k (4.6% of expenses). Other salaries and wages came to $1.2m. At year end it held assets of $8.2m against liabilities of $1.2m, net assets of $7.0m. It reported 55 employees.