Piermont Public Library

Analysis

Piermont Public Library is a registered charity in United States, based in Piermont, NY. It received its IRS tax-exemption ruling in May 1974, 52 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 June 2023, Piermont Public Library reported income of $425k and spending of $470k, spending 111% of what it took in. Across the 5 years on record, from December 2019 to June 2023, income grew from $385k to $425k (+10%), an average of +2.5% a year. The sharpest change came in the year to June 2023, when income rose by 2667%. Over the whole period it spent 130% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Piermont Public Library sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 64th percentile within NY. Charities of a similar size with the same main cause include Fox Pacific Academy ($425k), Sapphire Early Learning Center ($425k) and Eastside Pathways ($425k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 98% of the total. Other salaries and wages came to $191k. At year end it held assets of $3.5m against liabilities of $306, net assets of $3.5m. It reported 8 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.