AI Transparency Report
The Queens Library Foundation Inc. demonstrates a fluctuating financial performance over the past decade, with recent years showing a trend of expenses exceeding revenue. For instance, in fiscal year 2023, expenses were $4,667,087 against revenues of $2,744,295, indicating a deficit. This pattern was also observed in 2020, 2019, 2017, and 2016. Despite these operational deficits, the organization has maintained a healthy asset base, growing from $16,205,974 in 2014 to $22,275,764 in 2023, suggesting strong underlying financial stability, likely from prior surpluses or investment gains. The consistent reporting of 0% officer compensation across all available filings indicates a high degree of transparency regarding executive pay and a commitment to directing funds towards the mission rather than high salaries. However, without a detailed breakdown of program, administrative, and fundraising expenses, a complete assessment of spending efficiency is challenging. The organization's consistent filing of IRS Form 990s over 13 periods reflects a commitment to regulatory compliance and transparency.