Gloversville Public Library

Analysis

Gloversville Public Library is a registered charity in United States, based in Gloversville, NY. It received its IRS tax-exemption ruling in November 2005, 21 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 2024, Gloversville Public Library reported income of $1.1m and spending of $1.4m, spending 128% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $622k to $1.1m (+72%), an average of +14% a year. The sharpest change came in the year to June 2023, when income rose by 73%. Over the whole period it spent 139% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Gloversville Public Library sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 76th percentile within NY. Charities of a similar size with the same main cause include Wild Whatcom ($1.1m), Brazosport College Foundation ($1.1m) and Young Singers of the Palm Beaches Inc ($1.1m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 94% and program service revenue 0.3% of the total. Other salaries and wages came to $566k. At year end it held assets of $9.0m against liabilities of $335k, net assets of $8.7m. It reported 22 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.