THE LITERARY CLASSICS OF THE US INC D/B/A LIBRARY OF AMERICA Charity Report

Public IRS 990 nonprofit record

THE LITERARY CLASSICS OF THE US INC D/B/A LIBRARY OF AMERICA

EIN 13-2986916 · Arts, Culture & Humanities (A76Z)

What they do

THE MISSION of THE LIBRARY of AMERICA is to FOSTER GREATER APPRECIATION for OUR NATIONS LITERARY HERITAGE BY PUBLISHING, and KEEPING PERMANENTLY IN PRINT, AUTHORITATIVE EDITIONS of AMERICAS BEST and MOST SIGNIFICANT WRITING.

Before you give

Should I give to this charity?

Easy charity check

Look at where the money went

Of every $100 spent, about $69.00 was reported for mission work. Use the spending picture below and ask what results that work produced.

Plain answer: A tax form cannot prove that a charity is doing good. It can show how the charity says it spent its money—and point out questions you should ask.

Basic facts we verified

IRS warning checkNo IRS revocation warning appears in this data.

Money report from 2024The charity has a recent tax report to read.

They explain their jobThe charity tells us what it is trying to do.

They name their leaders24 people are listed in the latest report.

You can reach themThey list contact information, so you can ask questions.

Money made simple

70.59%of revenue went to mission work69.0% of expenses · Program services

11.20%of revenue went to fundraising11.0% of expenses

$102.28spent for every $100 of revenueSpending was higher than revenue this year.

20.49%of revenue went to management and office costs20.0% of expenses

$6.25in assets for every $1 spent this yearSome assets cannot be spent right away.

43.4%of its money came from giftsOther money may come from services or investments.

Ask these three easy questions

Who did you help? Ask for a recent story or report that shows real results.
What will my money do? Ask exactly what your gift will pay for.
Is this really the charity? Give only through its official website or confirmed phone number.

Worth asking: Expenses exceeded revenue by $141,539 this year. Ask whether that was planned or caused by a one-time event.

Pay context: The highest compensation shown in this filing is $323,338 for MAX RUDIN (PRESIDENT & PUBLISHER). Compare pay with organizations of similar size and complexity.

Bottom line: Do not decide from a name, mission statement, or tax status alone. Look at where the money went, then ask what changed, who was helped, and what your gift will do. YouCanGiveBack does not endorse or grade organizations.

Money

Financial picture

Tax year 2024

A plain-language look at the latest Form 990 figures available. These numbers help you ask better questions; they do not, by themselves, rate whether a charity is good or bad.

$100revenue

How each $100 of revenue was used

The large number compares each expense with revenue. The smaller number shows its share of total expenses.

Total reported revenue$6,204,052

Mission workProgram services$4,379,56370.59% of revenue69.0% of expenses

ManagementOffice and general costs$1,271,03220.49% of revenue20.0% of expenses

FundraisingAsking for donations$694,99611.20% of revenue11.0% of expenses

Total expenses$6,345,591102.28% of revenue

Expenses were greater than revenue, so the colored ring fills the available $100 and the total above 100% is shown below.

Has the pattern changed?

Colored bars = expense mix: how each year’s expenses were divided. Total expenses vs. revenue shows whether the charity spent less or more than it received. The current filing is first.

YearExpense mixDetails

2024CurrentExpense mix: 69.0% mission · 20.0% management · 11.0% fundraisingTotal expenses: 102.28% of revenue

2023Expense mix: 69.9% mission · 18.9% management · 11.2% fundraisingTotal expenses: 109.45% of revenue

2022Expense mix: 66.9% mission · 20.2% management · 12.9% fundraisingTotal expenses: 102.10% of revenue

2021Expense mix: 69.5% mission · 19.6% management · 10.9% fundraisingTotal expenses: 91.74% of revenue

2020Expense mix: 71.3% mission · 19.2% management · 9.4% fundraisingTotal expenses: 86.56% of revenue

2019Expense mix: 68.0% mission · 21.0% management · 11.0% fundraisingTotal expenses: 99.07% of revenue

2018Expense mix: 66.8% mission · 20.7% management · 12.5% fundraisingTotal expenses: 89.90% of revenue

2017Expense mix: 65.8% mission · 20.3% management · 14.0% fundraisingTotal expenses: 67.58% of revenue

Money in and money out

Revenue$6,204,052

Expenses$6,345,591

Annual shortfall $141,539 Expenses were higher than revenue for this filing year.

Reported spending amounts

Mission work means the Form 990 category called program services. These are reported accounting categories—not an independent measurement of results.

Mission work (program services)$4,379,563 · 69.0% of expenses

Management and office costs$1,271,032 · 20.0% of expenses

Fundraising$694,996 · 11.0% of expenses

See all reported dollar amounts

Revenue$6,204,052

Expenses$6,345,591

Assets$39,645,339

Income$8,875,609

Contributions$2,689,798

Mission work (program services)$4,379,563

Fundraising$694,996

Management and general$1,271,032

Executive compensation (total)$571,699

Stocks and bonds$25,282,482

People

Leadership and board

Tax year 2024

Names, titles, time, and compensation below are reported by the organization on its Form 990.

People reported as paid

Person and titleCompensation

MAX RUDINPRESIDENT & PUBLISHER · 50 hrs/week $323,338Base $303,863 · Other $19,475

DANIEL BAKERVICE PRESIDENT & CFO · 50 hrs/week $275,290Base $207,251 · Other $68,039

JOHN KULKAEDITORIAL DIRECTOR · 50 hrs/week $190,788Base $151,687 · Other $39,101

DAVID CLOYCE SMITHDIR. OF PROD. & CONSUMER · 50 hrs/week $145,042Base $119,996 · Other $25,046

BRIAN MCCARTHYASSOCIATE PUBLISHER · 50 hrs/week $138,946Base $101,828 · Other $37,118

PATRICIA HOARDMANAGING EDITOR · 50 hrs/week $117,784Base $111,780 · Other $6,004

G THOMAS TANSELLESECRETARY · 10 hrs/week $18,000

Compensation alone does not tell whether pay is reasonable. Consider the charity’s size, work, location, and results.

See everyone listed on the board or leadership roster (24)

MAX RUDINPRESIDENT & PUBLISHER

DANIEL BAKERVICE PRESIDENT & CFO

JOHN KULKAEDITORIAL DIRECTOR

DAVID CLOYCE SMITHDIR. OF PROD. & CONSUMER

BRIAN MCCARTHYASSOCIATE PUBLISHER

PATRICIA HOARDMANAGING EDITOR

G THOMAS TANSELLESECRETARY

TONY KUSHNERDIRECTOR

ADAM GOPNIKDIRECTOR

MONA SIMPSONDIRECTOR

MICHAEL BIERUTDIRECTOR

MATTHEW MCLENNANTREASURER

LES LEVIDIRECTOR

KATHLEEN KENNEDYDIRECTOR

JOANNE FREEMANDIRECTOR

HENRY LOUIS GATES JRDIRECTOR

FREDERICK W BEINECKEDIRECTOR

ELIZABETH W SMITHCHAIR

ELIHU ROSEDIRECTOR

DANIEL WEISSVICE CHAIR

BENITO CACHINERO-SANCHEZDIRECTOR

AMY DAVIDSON SORKINDIRECTOR

AMOR TOWLESDIRECTOR

ALAN M KLEINDIRECTOR

About this charity

Recognized since: January 1979
Location: 14 EAST 60TH STREET, NEW YORK, NY 10022-1006
County: New York
In care of: DANIEL BAKER
Primary officer: DANIEL BAKER, VP & CFO

How to reach them

WebsiteVisit the charity’s website Phone(212) 308-3360

Filing and classification

Latest tax year: 2024
Tax period began: July 1, 2024
Return type: 990
Tax preparer: CBIZ ADVISORS LLC
NTEE classification: Arts, Culture & Humanities (A76Z)