Council of Literary Magazines and Presses

Analysis

Council of Literary Magazines and Presses is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in September 1967, 59 years ago. 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, Council of Literary Magazines and Presses reported income of $1.2m and spending of $1.1m, spending 93% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $513k to $1.2m (+127%), an average of +23% a year. The sharpest change came in the year to June 2021, when income rose by 255%. Over the whole period it spent 74% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Council of Literary Magazines and Presses sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 77th percentile within NY. Charities of a similar size with the same main cause include Senior Citizens of Humboldt County Inc ($1.2m), Westside Energy Services Training & Education Center ($1.2m) and Progressive Inc ($1.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 78% and program service revenue 16% of the total. Compensation of current officers, directors and key employees was $123k (11% of expenses). Other salaries and wages came to $192k. At year end it held assets of $2.4m against liabilities of $219k, net assets of $2.2m. It reported 5 employees.