Morristown and Morris Township Library Foundation

Analysis

Morristown and Morris Township Library Foundation is a registered charity in United States, based in Morristown, NJ. It received its IRS tax-exemption ruling in March 1984, 42 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, Morristown and Morris Township Library Foundation reported income of $4.5m and spending of $148k, leaving 97% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $108k to $4.5m (+4092%), an average of +154% a year. The sharpest change came in the year to December 2023, when income rose by 3389%. Over the whole period it spent 7.9% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Morristown and Morris Township Library Foundation sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 93rd percentile within NJ. Charities of a similar size with the same main cause include William R Moore College of Technology ($4.5m), West Side Christian School ($4.5m) and Continuing Legal Education in Colorado Inc ($4.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% of the total. At year end it held assets of $6.7m against liabilities of $116k, net assets of $6.6m.