Rye Free Reading Room
Rye Free Reading Room maintains stable assets with consistent operations and no reported officer compensation.
EIN: 131740028 · Rye, NY · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $2.6M |
| Total Expenses | $2.3M |
| Program Spending | 85% |
| Net Assets | $5.5M |
| Transparency Score | 90/100 |
Is Rye Free Reading Room Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Rye Free Reading Room directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Rye Free Reading Room
Rye Free Reading Room (EIN: 131740028) is a nonprofit organization based in Rye, NY. The organization reported total revenue of $2.6M and total assets of $5.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Rye Free Reading Room's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Rye Free Reading Room is a mid-size nonprofit that has been operating for 81 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 2.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.2M |
| Total Expenses | $2.3M |
| Surplus / Deficit | $-38,089 |
| Total Assets | $5.5M |
| Net Assets | $5.5M |
| Operating Margin | -1.7% |
| Months of Reserves | 29.3 months |
Financial Health Grade: B
In 2023, Rye Free Reading Room reported a deficit of $38K with expenses exceeding revenue, holds 29.3 months of operating reserves (strong position).
Financial Trends
Over 13 years of filings (2011–2023), Rye Free Reading Room's revenue has grown at a compound annual growth rate (CAGR) of 2.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -7.3% | -6.4% | +1.2% |
| 2022 | -5.2% | +18.4% | -4.2% |
| 2021 | +65.0% | +7.7% | +7.2% |
| 2020 | -12.8% | -7.1% | -6.2% |
| 2019 | +4.4% | -13.8% | -1.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1230 |
| IRS Ruling Date | 1945 |
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 Rye Free Reading Room with a Mission Score of 90 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: 85%
- fundraising: 5%
According to IRS 990 filings, Rye Free Reading Room allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% 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 $38K, with expenses exceeding revenue.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that no salaries are paid to officers, which is highly unusual for an organization of this size and suggests a volunteer-led executive structure or compensation is categorized differently.
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 Rye Free Reading Room's IRS 990 filings:
- Occasional operational deficits (e.g., 2023, 2022, 2019) where expenses slightly exceed revenue, requiring careful monitoring.
- Unusually consistent 0% officer compensation reported, which might warrant further inquiry into how leadership is compensated or structured.
Strengths
The following positive indicators were identified for Rye Free Reading Room:
- Strong and stable asset base, consistently above $5 million, providing financial security.
- Zero reported liabilities in most recent years (2023, 2022, 2021), indicating a debt-free operation.
- Consistent reporting of 0% officer compensation, suggesting efficient use of funds and potentially volunteer leadership.
- Revenue generally aligns with expenses over the long term, indicating responsible financial management.
- Maintained operations and asset levels through varying economic conditions over a decade.
Frequently Asked Questions about Rye Free Reading Room
Is Rye Free Reading Room a legitimate charity?
Based on AI analysis of IRS 990 filings, Rye Free Reading Room (EIN: 131740028) some concerns. Mission Score: 90/100. 2 red flags identified, 5 strengths noted.
How does Rye Free Reading Room spend its money?
Rye Free Reading Room directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Rye Free Reading Room tax-deductible?
Rye Free Reading Room is registered as a tax-exempt nonprofit (EIN: 131740028). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Rye Free Reading Room's spending goes to programs?
Rye Free Reading Room directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Rye Free Reading Room located?
Rye Free Reading Room is headquartered in Rye, New York and files with the IRS under EIN 131740028.
How many years of IRS 990 filings does Rye Free Reading Room have?
Rye Free Reading Room has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $2.6M in total revenue.
Is Rye Free Reading Room a good charity?
Based on its financial data, the Rye Free Reading Room appears to be a well-managed organization. It maintains a strong asset base ($5,503,099 in 2023) with no reported liabilities, and consistently reports 0% officer compensation, suggesting efficient use of funds and strong governance. While some years show slight operational deficits, these are minor relative to its overall financial health.
How does Rye Free Reading Room manage its expenses?
The organization's expenses generally track closely with its revenues. For example, in 2023, expenses were $2,256,439 against revenues of $2,218,350. This indicates a lean operational model where spending is closely tied to available income, though it occasionally operates with a slight deficit.
What is the trend in Rye Free Reading Room's assets?
The Rye Free Reading Room has maintained a robust asset base over the past decade, generally fluctuating between $5.2 million and $6.2 million. In 2023, assets stood at $5,503,099, showing long-term financial stability despite minor year-to-year variations.
Does Rye Free Reading Room have any debt?
For most of the reported periods, including 2023, 2022, 2021, 2017, 2016, 2015, and 2014, the Rye Free Reading Room reported $0 in liabilities, indicating a debt-free operation. There were minor liabilities reported in 2020 ($189,300), 2019 ($200,280), and 2018 ($246,246), which were subsequently cleared.
How transparent is Rye Free Reading Room regarding executive pay?
The organization demonstrates high transparency regarding executive pay by consistently reporting 0% officer compensation in all available IRS 990 filings. This indicates that no compensation is paid to officers, or it is categorized in a way that does not fall under 'officer compensation' on the 990 form, which is a strong indicator of efficient resource allocation.
Filing History
IRS 990 filing history for Rye Free Reading Room showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Rye Free Reading Room's revenue has grown by 28.3%, moving from $1.7M to $2.2M. Total assets increased by 0.3% over the same period, from $5.5M to $5.5M. Total functional expenses rose by 35.5%, from $1.7M to $2.3M. In its most recent filing year (2023), Rye Free Reading Room reported a deficit of $38K, with expenses exceeding revenue.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $2.2M | $2.3M | $5.5M | $0 | — | — |
| 2022 | $2.4M | $2.4M | $5.4M | $0 | — | View 990 |
| 2021 | $2.5M | $2.0M | $5.7M | $0 | — | View 990 |
| 2020 | $1.5M | $1.9M | $5.3M | $189K | — | — |
| 2019 | $1.8M | $2.0M | $5.6M | $200K | — | View 990 |
| 2018 | $1.7M | $2.4M | $5.7M | $246K | — | View 990 |
| 2017 | $1.8M | $2.0M | $6.3M | $0 | — | View 990 |
| 2016 | $2.2M | $1.9M | $6.3M | $0 | — | View 990 |
| 2015 | $2.0M | $1.9M | $5.8M | $0 | — | View 990 |
| 2014 | $2.0M | $1.9M | $5.9M | $0 | — | View 990 |
| 2013 | $1.8M | $1.8M | $5.7M | $0 | — | View 990 |
| 2012 | $1.8M | $1.8M | $5.6M | $0 | — | View 990 |
| 2011 | $1.7M | $1.7M | $5.5M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.2M, expenses of $2.3M, and assets of $5.5M (revenue -7.3% year-over-year).
- 2022: Revenue of $2.4M, expenses of $2.4M, and assets of $5.4M (revenue -5.2% year-over-year).
- 2021: Revenue of $2.5M, expenses of $2.0M, and assets of $5.7M (revenue +65.0% year-over-year).
- 2020: Revenue of $1.5M, expenses of $1.9M, and assets of $5.3M (revenue -12.8% year-over-year).
- 2019: Revenue of $1.8M, expenses of $2.0M, and assets of $5.6M (revenue +4.4% year-over-year).
- 2018: Revenue of $1.7M, expenses of $2.4M, and assets of $5.7M (revenue -6.0% year-over-year).
- 2017: Revenue of $1.8M, expenses of $2.0M, and assets of $6.3M (revenue -20.1% year-over-year).
- 2016: Revenue of $2.2M, expenses of $1.9M, and assets of $6.3M (revenue +13.4% year-over-year).
- 2015: Revenue of $2.0M, expenses of $1.9M, and assets of $5.8M (revenue -1.8% year-over-year).
- 2014: Revenue of $2.0M, expenses of $1.9M, and assets of $5.9M (revenue +10.4% year-over-year).
- 2013: Revenue of $1.8M, expenses of $1.8M, and assets of $5.7M (revenue +0.7% year-over-year).
- 2012: Revenue of $1.8M, expenses of $1.8M, and assets of $5.6M (revenue +4.5% year-over-year).
- 2011: Revenue of $1.7M, expenses of $1.7M, and assets of $5.5M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Rye Free Reading Room:
Data Sources and Methodology
This transparency report for Rye Free Reading Room 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.