New City Library

Analysis

New City Library is a registered charity in United States, based in New City, NY. It received its IRS tax-exemption ruling in April 1964, 62 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 2023, New City Library reported income of $6.1m and spending of $4.6m, leaving 24% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $5.4m to $6.1m (+15%), an average of +3.5% a year. Over the whole period it spent 81% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, New City Library sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 91st percentile within NY. Charities of a similar size with the same main cause include Girl Scouts of Central California South ($6.1m), The Council on Aging of Martin County Inc ($6.1m) and Battle Creek Area Catholic Schools Foundation Inc ($6.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 98% of the total. Compensation of current officers, directors and key employees was $292k (6.3% of expenses). Other salaries and wages came to $2.0m. At year end it held assets of $21.4m against liabilities of $9.9m, net assets of $11.5m. It reported 49 employees.