THE MERCANTILE LIBRARY ASSOCIATION OF THE CITY OF NEW YORK INC

EIN: 131624084 501(c)(3) Education

BROOKLYN, NY

Total Revenue
$2,570,758
Total Expenses
$2,997,558
Total Assets
$2,373,267
Net Assets
$2,056,566
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1820
Legal Domicile
NY
Principal Officer
LYDAH DEBIN
Phone
2127556710
Tax Period
2023-01-01 to 2023-12-31

THE MERCANTILE LIBRARY ASSOCIATION OF THE CITY OF NEW YORK INC, founded in 1820, is a community nonprofit in the Education sector that reported $2.6M in total revenue in fiscal year 2023. Revenue fell 21% from the prior year — a significant decline worth monitoring. Expenses of $3.0M exceeded revenue, resulting in a 17% operating deficit.

Mission

TO ENCOURAGE PEOPLE TO READ AND VALUE FICTION AND TO SUPPORT AND CELEBRATE ITS CREATION.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $1,480,182
Program Service Revenue $1,000,709
Investment Income $2,431
Other Revenue $87,436
TOTAL REVENUE $2,570,758

Expense Breakdown

Grants Paid $86,855
Salaries & Benefits $1,899,141
Fundraising Expenses $372,606
Program Expenses $2,001,589
Other Expenses $1,011,562
TOTAL EXPENSES $2,997,558

Year-over-Year Comparison

2023 2022 Change
Revenue $2,570,758 $3,244,061 -0.2%
Expenses $2,997,558 $2,572,194 +0.2%
Net Income $-426,800 $671,867 -1.6%
Key Indicators
✗ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

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Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
22
Independent Members
22
Employees
50
Volunteers
40

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
8
$390,538
Total Directors
22
$0
Key Employees
0
$0
Highest Compensated
2
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ERROLL MCDONALD CHAIR 2.00
Officer Director
$0 $0 $0
SUAN RESTLER VICE CHAIR 2.00
Officer Director
$0 $0 $0
CELIA MCGEE SECRETARY 2.00
Officer Director
$0 $0 $0
NINA VON MOLTKE TREASURER 2.00
Officer Director
$0 $0 $0
SHANNON ROSE SELDEN DIRECTOR 1.00
Director
$0 $0 $0
GABRIELLE BAMBERGER DIRECTOR 1.00
Director
$0 $0 $0
CHIWONISO KAITANO DIRECTOR 1.00
Director
$0 $0 $0
DANIELLE GANEK DIRECTOR 1.00
Director
$0 $0 $0
NAN GRAHAM DIRECTOR 1.00
Director
$0 $0 $0
CALVERT D MORGAN JR DIRECTOR 1.00
Director
$0 $0 $0
SUSANNA PORTER DIRECTOR 1.00
Director
$0 $0 $0
DAVID BRUSON DIRECTOR 1.00
Director
$0 $0 $0
DENNIS WILLIAMS DIRECTOR 1.00
Director
$0 $0 $0
DENNIS KRIEGER DIRECTOR 1.00
Director
$0 $0 $0
SARAH LYALL DIRECTOR 1.00
Director
$0 $0 $0
CHRISTOPHER JOHN FARLEY DIRECTOR 1.00
Director
$0 $0 $0
ANNE HIGONNET DIRECTOR 1.00
Director
$0 $0 $0
SAYU BHOJWANI DIRECTOR 1.00
Director
$0 $0 $0
PHONG BUI DIRECTOR 1.00
Director
$0 $0 $0
LLOYD LYNFORD DIRECTOR 1.00
Director
$0 $0 $0
LIESE MAYER DIRECTOR 1.00
Director
$0 $0 $0
CAMILLE MCDUFFIE DIRECTOR 1.00
Director
$0 $0 $0
LYDAH DEBIN EXECUTIVE DIRECTOR 40.00
Officer
$80,734 $3,632 $84,366
TRACI LESTER EXECUTIVE DIRECTOR (LEFT IN 2023) 40.00
Officer
$118,450 $9,682 $128,132
LESLIE GRIESBACH SCHULTZ INTERIM CO-DIRECTOR 40.00
Officer
$92,445 $0 $92,445
BETSY SMULYAN INTERIM CO-DIRECTOR 40.00
Officer
$85,595 $0 $85,595
KRISTIN HENLEY MANAGING DIRECTOR 40.00
Highest
$116,079 $4,159 $120,238
MELANIE MCNAIR SENIOR DIR. OF PUBLIC PROG 40.00
Highest
$103,230 $3,460 $106,690
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $2,570,758 $2,997,558 $2,373,267 $-426,800
2022 $3,244,061 $2,572,194 $2,596,295 $671,867
2021 $3,202,622 $2,341,609 $3,218,511 $861,013
2020 $2,396,422 $2,341,699 $2,875,884 $54,723
2019 $2,062,326 $2,175,688 $2,459,493 $-113,362
2018 $1,597,935 $1,485,804 $1,839,666 $112,131
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