Gloversville Library Foundation Inc

Analysis

Gloversville Library Foundation Inc is a registered charity in United States, based in Gloversville, NY. It received its IRS tax-exemption ruling in June 2005, 21 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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, Gloversville Library Foundation Inc reported income of $173k and spending of $157k, spending 91% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $292k to $173k (-41%), an average of -12% a year. The sharpest change came in the year to December 2021, when income rose by 114%. Over the whole period it spent 39% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Gloversville Library Foundation Inc sits at the 55th percentile: it is larger than about 55% of them. Against every charity in United States with reported income it ranks in the 51st percentile, and in the 48th percentile within NY. Charities of a similar size with the same main cause include Green & Gold Foundation ($173k), Newton Ministerial Alliance Inc ($173k) and Heart to Heart Experiences Inc ($173k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 24% of the total. Other salaries and wages came to $413. At year end it held assets of $4.6m against liabilities of $80, net assets of $4.6m. It reported 1 employees.