Rose Memorial Library Association

Analysis

Rose Memorial Library Association is a registered charity in United States, based in Stony Point, NY. It received its IRS tax-exemption ruling in August 1967, 59 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, Rose Memorial Library Association reported income of $573k and spending of $604k, spending 106% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $552k to $573k (+3.7%), an average of +0.9% a year. The sharpest change came in the year to December 2022, when income rose by 101%. Over the whole period it spent 121% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Rose Memorial Library Association sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 68th percentile within NY. Charities of a similar size with the same main cause include Sudbury Co-Operative Pre-School Inc ($572k), Child Evangelism Fellowship Inc ($573k) and Zigen Fund Inc ($572k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 95% and program service revenue 0.4% of the total. Compensation of current officers, directors and key employees was $84k (14% of expenses). Other salaries and wages came to $289k. At year end it held assets of $888k against liabilities of $31k, net assets of $857k. It reported 16 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.