Mary Jacobs Memorial Library Foundation

Analysis

Mary Jacobs Memorial Library Foundation is a registered charity in United States, based in Rocky Hill, NJ. It received its IRS tax-exemption ruling in February 1973, 53 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Mary Jacobs Memorial Library Foundation reported income of $94k and spending of $273k, spending 291% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $128k to $94k (-27%), an average of -7.5% a year. The sharpest change came in the year to December 2023, when income dropped by 27%. Over the whole period it spent 142% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Mary Jacobs Memorial Library Foundation sits at the 35th percentile: it is larger than about 35% of them. Against every charity in United States with reported income it ranks in the 35th percentile, and in the 43rd percentile within NJ. Charities of a similar size with the same main cause include Brooklyn Park Youth Athletic Association Inc ($94k), Trooper Kevin Conner Memorial Foundation Inc ($94k) and Alcoholics Anonymous-Memphis Area ($94k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 5.4% of the total. At year end it held assets of $5.4m against liabilities of $65k, net assets of $5.4m.

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.