Mountain Lakes Free Public Library

Analysis

Mountain Lakes Free Public Library is a registered charity in United States, based in Mountain LKS, NJ. It received its IRS tax-exemption ruling in June 1980, 46 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, Mountain Lakes Free Public Library reported income of $679k and spending of $478k, leaving 30% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $447k to $679k (+52%), an average of +11% a year. The sharpest change came in the year to December 2021, when income rose by 65%. Over the whole period it spent 50% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Mountain Lakes Free Public Library sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 78th percentile within NJ. Charities of a similar size with the same main cause include Upper Peninsula Plumbers and Pipefitters Educational Fund ($679k), Puerto Rico Educational System Inc ($679k) and Alliance for Refugee Youth Support and Education ($679k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 62% and program service revenue 1.1% of the total. Compensation of current officers, directors and key employees was $72k (15% of expenses). Other salaries and wages came to $216k. At year end it held assets of $3.5m against liabilities of $2, net assets of $3.5m. It reported 26 employees.