Monroe Free Library

Analysis

Monroe Free Library is a registered charity in United States, based in Monroe, NY. It received its IRS tax-exemption ruling in February 1953, 73 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, Monroe Free Library reported income of $1.5m and spending of $1.4m, spending 94% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.4m to $1.5m (+5.3%), an average of +1.3% a year. Over the whole period it spent 97% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Monroe Free Library sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 80th percentile within NY. Charities of a similar size with the same main cause include Young Achievers Learning Center Inc ($1.5m), Holland Christian Education Foundation ($1.5m) and Walks-Webs Western Eagle Bilingual School Prek 12th Grade Inc ($1.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% and program service revenue 0.7% of the total. Compensation of current officers, directors and key employees was $99k (7.0% of expenses). Other salaries and wages came to $716k. At year end it held assets of $3.4m against liabilities of $644k, net assets of $2.7m. It reported 25 employees.