Literary Classics Of The United States Inc

Organization Overview

Literary Classics Of The United States Inc, operating under the name The Library Of America, is located in New York, NY. The organization was established in 1979. As of 06/2021, Library Of America employed 20 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Library Of America is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

For the year ending 06/2021, Library Of America generated $7.8m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.1% each year. All expenses for the organization totaled $6.7m during the year ending 06/2021. While expenses have increased by 3.9% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

THE LIBRARY OF AMERICA WAS FOUNDED IN 1979 TO UNDERTAKE A HISTORIC ENDEAVOR: TO HELP PRESERVE THE NATION'S CULTURAL HERITAGE BY PUBLISHING AMERICA'S BEST AND MOST SIGNIFICANT WRITING IN DURABLE AND AUTHORITATIVE EDITIONS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE MAIN FOCUS OF THE ORGANIZATION'S STATED EXEMPT PURPOSE IS TO ASSURE ACCESS BY THE GENERAL PUBLIC TO ESSENTIAL WORKS OF THE AMERICAN LITERARY AND HISTORICAL TRADITION IN ORDER TO PRESERVE THE AMERICAN PAST THROUGH ITS LITERARY AND HISTORICAL ACHIEVEMENTS. ALL OF THE ACTIVITIES OF THE ORGANIZATION RELATE TO ONE PROGRAM, THIS PROGRAM IS KNOWN AS THE LIBRARY OF AMERICA. THE MISSION IS CARRIED OUT BY COMPILING, EDITING AND PUBLISHING INEXPENSIVELY PRICED AND TEXTUALLYACCURATE EDITIONS OF AMERICA'S BEST AND MOST SIGNIFICANT WRITINGS OF THE PAST. THE BOOKS ARE DISTRIBUTED TO LIBRARIES, EDUCATIONAL INSTITUTIONS, BOOK STORES, AND DIRECTLY TO INDIVIDUALS, THUS MAKING THEM WIDELY AVAILABLE TO SCHOLARS, EDUCATORS, STUDENTS, AND THE ENTIRE GENERAL PUBLIC. TO DATE, THE LIBRARY OF AMERICA HAS PUBLISHED IN EXCESS OF 400 VOLUMES OF LITERATURE, POETRY, AND ANTHOLOGIES, AND, ON AVERAGE, TEN NEW VOLUMES ARE ADDED ANNUALLY. MOST OF THE WORKS ARE KEPTPERMANENTLY IN PRINT IN ORDER TO ASSURE CONTINUED ACCESS FOR FUTURE GENERATIONS. THE EXACT NUMBER OF PEOPLE WHO HAVE BEEN PROVIDED ACCESS TO OTHERWISE UNAVAILABLE WORKS OF OUR GREATEST AMERICAN AUTHORS THROUGH THE EFFORTS OF THE LIBRARY OF AMERICA IS NOT KNOWN. HOWEVER, OVER 3,500 LIBRARIES WITH VERY LIMITED RESOURCES HAVE ACQUIRED THE WORKS FROM THIS PROGRAM, AND APPROXIMATELY 300,000 VOLUMES ARE DISTRIBUTED ANNUALLY TO THE GENERAL PUBLIC, EITHER DIRECTLY OR THROUGH BOOKSTORES. TO DATE OVER SEVEN MILLION VOLUMES HAVE BEEN PRINTED AND DISTRIBUTED. IT IS ESTIMATED THAT TENS OF MILLIONS OF PEOPLE HAVE BEEN PROVIDED ACCESS TO THESE ESSENTIAL WORKS OF AMERICAN LITERATURE THROUGH THE ACTIVITIES CARRIED ON BY THE LIBRARY OF AMERICA.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Rave Digital
It Consultant Webstore Conversion
$189,000
Pennington Gray Llc
Fundraising & Development Consultant
$111,009
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $538,051
All other contributions, gifts, grants, and similar amounts not included above$2,609,525
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$3,147,576
Total Program Service Revenue$0
Investment income $349,541
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $4,260,831
Miscellaneous Revenue$0
Total Revenue $7,761,557

Grants Recieved

Over the last fiscal year, we have identified 3 grants that Literary Classics Of The United States Inc has recieved totaling $269,637.

Awarding OrganizationAmount
The Giorgi Family Foundation

Temple, PA

PURPOSE: GENERAL DONATION

$264,500
The Poetry Foundation

Chicago, IL

PURPOSE: POETRY PROGRAMMING

$5,000
Amazonsmile Foundation

Seattle, WA

PURPOSE: GENERAL SUPPORT

$137
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$17,573,528
Earnings$5,217,027
Net Contributions$550,000
Other Expense$707,000
Ending Balance$22,633,556

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