Montclair Free Public Library Foundation Inc

Analysis

Montclair Free Public Library Foundation Inc is a registered charity in United States, based in Montclair, NJ. It received its IRS tax-exemption ruling in April 2003, 23 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, Montclair Free Public Library Foundation Inc reported income of $571k and spending of $484k, spending 85% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $216k to $571k (+165%), an average of +28% a year. The sharpest change came in the year to December 2021, when income rose by 75%. Over the whole period it spent 74% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Montclair Free Public Library Foundation Inc sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 77th percentile within NJ. Charities of a similar size with the same main cause include Friends of Montclair Rowing Inc ($571k), Kupat Hakodesh Inc ($571k) and Los Angeles Press Club ($571k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 74% of the total. Compensation of current officers, directors and key employees was $173k (36% of expenses). At year end it held assets of $1.2m against liabilities of $0, net assets of $1.2m. It reported 4 employees.