Mercantile Library Association Of The City Of New York
Mercantile Library Association shows consistent asset growth but reported a $426,800 deficit in its latest fiscal year.
EIN: 131624084 · Brooklyn, NY · NTEE: B76Z · Updated: 2026-03-28
Is Mercantile Library Association Of The City Of New York Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Mercantile Library Association Of The City Of New York directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Mercantile Library Association Of The City Of New York
Mercantile Library Association Of The City Of New York (EIN: 131624084) is a nonprofit organization based in Brooklyn, NY, classified under NTEE code B76Z. The organization reported total revenue of $3.7M and total assets of $2.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Mercantile Library Association Of The City Of New York's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Mercantile Library Association Of The City Of New York is a mid-size nonprofit that has been operating for 90 years, with 14 years of IRS 990 filings on record (2010–2023). Revenue has grown at a compound annual rate of 4.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.6M |
| Total Expenses | $3.0M |
| Surplus / Deficit | $-426,800 |
| Total Assets | $2.4M |
| Total Liabilities | $317K |
| Net Assets | $2.1M |
| Operating Margin | -16.6% |
| Debt-to-Asset Ratio | 13.3% |
| Months of Reserves | 9.5 months |
Financial Health Grade: B
In 2023, Mercantile Library Association Of The City Of New York reported a deficit of $427K with expenses exceeding revenue, holds 9.5 months of operating reserves (strong position), has a debt-to-asset ratio of 13.3% (very low leverage).
Financial Trends
Over 14 years of filings (2010–2023), Mercantile Library Association Of The City Of New York's revenue has grown at a compound annual growth rate (CAGR) of 4.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -20.8% | +16.5% | -8.6% |
| 2022 | +1.3% | +9.8% | -19.3% |
| 2021 | +33.6% | +-0.0% | +11.9% |
| 2020 | +16.2% | +7.6% | +16.9% |
| 2019 | +29.1% | +46.4% | +33.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1936 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Mercantile Library Association Of The City Of New York with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 80%
- fundraising: 10%
According to IRS 990 filings, Mercantile Library Association Of The City Of New York allocates its expenses as follows: admin: 10%, programs: 80%, fundraising: 10%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $427K, with expenses exceeding revenue.
- Debt-to-asset ratio: 13.3%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating either a volunteer-led executive team or that executive compensation is categorized differently, which is a strong positive for financial efficiency and transparency.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Mercantile Library Association Of The City Of New York's IRS 990 filings:
- Expenses exceeded revenue by over $426,000 in the latest fiscal year (202312).
Strengths
The following positive indicators were identified for Mercantile Library Association Of The City Of New York:
- Consistent reporting of 0% officer compensation across all filings.
- Long-term growth in assets, from $1,086,736 in 2014 to $2,373,267 in 2023.
- Consistent filing of IRS Form 990s over 14 periods, indicating strong transparency and compliance.
- Generally positive revenue trends over the past decade.
Frequently Asked Questions about Mercantile Library Association Of The City Of New York
Is Mercantile Library Association Of The City Of New York a legitimate charity?
Based on AI analysis of IRS 990 filings, Mercantile Library Association Of The City Of New York (EIN: 131624084) some concerns. Mission Score: 85/100. 1 red flag identified, 4 strengths noted.
How does Mercantile Library Association Of The City Of New York spend its money?
Mercantile Library Association Of The City Of New York directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Mercantile Library Association Of The City Of New York tax-deductible?
Mercantile Library Association Of The City Of New York is registered as a tax-exempt nonprofit (EIN: 131624084). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is the Mercantile Library Association Of The City Of New York financially stable?
Yes, despite a deficit in the latest fiscal year (202312) where expenses exceeded revenue by $426,800, the organization has shown consistent asset growth over the past decade, from $1,086,736 in 2014 to $2,373,267 in 2023, and generally maintains manageable liabilities.
How does the organization manage executive compensation?
The organization reports 0% officer compensation in all available IRS 990 filings, suggesting a highly efficient approach to executive pay, potentially through volunteer leadership or alternative compensation structures.
What is the trend in the organization's revenue and expenses?
Revenue has generally increased over the past decade, from under $1 million in 2016 to over $2.5 million in 2023. While expenses have also risen, the organization typically operates with a surplus, though the 202312 period showed a notable deficit.
Are there any significant financial concerns?
The primary concern is the deficit reported in the 202312 period, where expenses ($2,997,558) significantly exceeded revenue ($2,570,758). This should be monitored in future filings to ensure it's not a recurring trend.
Filing History
IRS 990 filing history for Mercantile Library Association Of The City Of New York showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2010–2023), Mercantile Library Association Of The City Of New York's revenue has grown by 71.5%, moving from $1.5M to $2.6M. Total assets increased by 169.1% over the same period, from $882K to $2.4M. Total functional expenses rose by 199.2%, from $1.0M to $3.0M. In its most recent filing year (2023), Mercantile Library Association Of The City Of New York reported a deficit of $427K, with expenses exceeding revenue. The organization holds $317K in liabilities against $2.4M in assets (debt-to-asset ratio: 13.3%), resulting in net assets of $2.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $2.6M | $3.0M | $2.4M | $317K | — | — |
| 2022 | $3.2M | $2.6M | $2.6M | $298K | — | View 990 |
| 2021 | $3.2M | $2.3M | $3.2M | $312K | — | View 990 |
| 2020 | $2.4M | $2.3M | $2.9M | $1.2M | — | — |
| 2019 | $2.1M | $2.2M | $2.5M | $985K | — | View 990 |
| 2018 | $1.6M | $1.5M | $1.8M | $480K | — | View 990 |
| 2017 | $1.5M | $1.3M | $1.4M | $51K | — | — |
| 2016 | $997K | $1.1M | $1.0M | $123K | — | View 990 |
| 2015 | $981K | $1.1M | $1.0M | $45K | — | View 990 |
| 2014 | $1.1M | $1.0M | $1.1M | $26K | — | View 990 |
| 2013 | $1.3M | $1.1M | $1.1M | $196K | — | View 990 |
| 2012 | $951K | $998K | $854K | $72K | — | View 990 |
| 2011 | $1.0M | $1.0M | $830K | $62K | — | View 990 |
| 2010 | $1.5M | $1.0M | $882K | $62K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.6M, expenses of $3.0M, and assets of $2.4M (revenue -20.8% year-over-year).
- 2022: Revenue of $3.2M, expenses of $2.6M, and assets of $2.6M (revenue +1.3% year-over-year).
- 2021: Revenue of $3.2M, expenses of $2.3M, and assets of $3.2M (revenue +33.6% year-over-year).
- 2020: Revenue of $2.4M, expenses of $2.3M, and assets of $2.9M (revenue +16.2% year-over-year).
- 2019: Revenue of $2.1M, expenses of $2.2M, and assets of $2.5M (revenue +29.1% year-over-year).
- 2018: Revenue of $1.6M, expenses of $1.5M, and assets of $1.8M (revenue +7.4% year-over-year).
- 2017: Revenue of $1.5M, expenses of $1.3M, and assets of $1.4M (revenue +49.2% year-over-year).
- 2016: Revenue of $997K, expenses of $1.1M, and assets of $1.0M (revenue +1.6% year-over-year).
- 2015: Revenue of $981K, expenses of $1.1M, and assets of $1.0M (revenue -9.5% year-over-year).
- 2014: Revenue of $1.1M, expenses of $1.0M, and assets of $1.1M (revenue -18.5% year-over-year).
- 2013: Revenue of $1.3M, expenses of $1.1M, and assets of $1.1M (revenue +39.8% year-over-year).
- 2012: Revenue of $951K, expenses of $998K, and assets of $854K (revenue -7.8% year-over-year).
- 2011: Revenue of $1.0M, expenses of $1.0M, and assets of $830K (revenue -31.2% year-over-year).
- 2010: Revenue of $1.5M, expenses of $1.0M, and assets of $882K.
Data Sources and Methodology
This transparency report for Mercantile Library Association Of The City Of New York is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.