Valley Cottage Free Library

Analysis

Valley Cottage Free Library is a registered charity in United States, based in Vly Cottage, NY. It received its IRS tax-exemption ruling in June 1960, 66 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 December 2023, Valley Cottage Free Library reported income of $2.8m and spending of $2.5m, spending 89% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.4m to $2.8m (+18%), an average of +4.2% a year. The sharpest change came in the year to December 2023, when income rose by 16%. Over the whole period it spent 93% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Valley Cottage Free Library sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 86th percentile within NY. Charities of a similar size with the same main cause include Chattanooga-Hamilton County Public Education Fund ($2.8m), Eukarya Family Center Inc ($2.8m) and Laurel Tree Charter School ($2.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 12% and program service revenue 85% of the total. Compensation of current officers, directors and key employees was $136k (5.4% of expenses). Other salaries and wages came to $1.2m. At year end it held assets of $9.3m against liabilities of $2.4m, net assets of $6.8m. It reported 44 employees.