Newberry Library

Analysis

Newberry Library is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in March 1939, 87 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 2023, Newberry Library reported income of $14.6m and spending of $13.8m, spending 94% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $11.1m to $14.6m (+31%), an average of +9.5% a year. The sharpest change came in the year to June 2022, when income rose by 19%. 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, Newberry Library sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within IL. Charities of a similar size with the same main cause include Providence Christian Academy Inc ($14.6m), Veritas Classical Christian School ($14.6m) and Accreditation Board for Engineering and Technology Inc ($14.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 78% and program service revenue 6.8% of the total. Compensation of current officers, directors and key employees was $469k (3.4% of expenses). Other salaries and wages came to $5.3m. At year end it held assets of $108.3m against liabilities of $6.2m, net assets of $102.1m. It reported 123 employees.