The Queens Borough Public Library
Nonprofit profile at a glance
- EIN
- 111904262
- IRS 990 coverage
- 2009–2024
- Forms available
- Form 990 2024
- Location
- Jamaica, NY, USA
- Phone
- 7189900700
- Rating
- 90
- Verdict
- STRONG
- Rating confidence
- Standard
- Sector
- Libraries
Reported finances
- Revenue
- $171,715,860
- Expenses
- $157,323,815
- Assets
- $163,401,740
- Liabilities
- $29,290,464
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
30 people listed
Executive titles in this filing
- DENNIS WALCOTT (PRESIDENT & CEO)
Highest reported compensation
- SUNG KIM (COO & SVP): $354,933 total reported compensation
- DENNIS WALCOTT (PRESIDENT & CEO): $352,168 total reported compensation
- NICK BURON (CHIEF LIBRARIAN & SVP): $335,262 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Queens library transforms lives by cultivating personal and intellectual growth and by building strong communities.
What it reported doing in 2024
The queens borough public library (qpl) employs approximately 1,500 people, with more than 85% living in the five boroughs. As of june 30, 2025, qpl is proud to serve approximately 1.7 million cardholders and maintain a collection of nearly 3.8 million items. During the year, new card registrations increased by more than 11,000 to approximately 115,000, while total circulation grew by 2.2 million to 10.9 million. Total gate count approached 6.6 million, reflecting an increase of 255,000 visits. Computer sessions also rose by 143,000 to nearly 1 million annually, and wi-fi sessions increased by 51% to more than 2.6 million. Program attendance remained strong at 964,000 for the year. In addition, through qpl's language line, translation services were provided in 44 languages across 61 of our 66 locations, with the most common languages being spanish, mandarin, french, bengali, arabic, and haitian creole. Qpl is also proud to offer collection items in these languages throughout the qpl system.
Operating model
- Revenue model
- Grant-funded. 96% of the money available for current operations came from government grants.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Total assets are small relative to annual expenses; liquid coverage is unknown and reported officer compensation is a large share of total spending, which may reflect staffing concentration.
Rating breakdown
- Financial Efficiency: 84
- Transparency & Controls: 95
- Accountability: 100
- Sustainability: 59
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 80.9%; rating input score 81
- Program expense ratio: 87.4%; rating input score 87
- Fundraising efficiency: $343.86 raised per $1 spent on fundraising; rating input score 92; 92nd percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
- Pay-setting controls: 5 of 6 controls in place; rating input score 83
- Compensation committee: Pass
- Independent consultant: Pass
- Other Form 990s reviewed: Pass
- Written employment contract: Missing
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Yes; rating input score 100
Accountability
- Independent voting board: 100%; rating input score 100; 77th percentile among comparable filings
- Governance controls: 9 of 9 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 8.4%; rating input score 68; 68th percentile among comparable filings
- Total-asset coverage ratio: 1.04; rating input score 41; 41st percentile among comparable filings
- Liabilities to assets ratio: 0.18; rating input score 71; 71st percentile among comparable filings
- Officer compensation ratio: 2%; rating input score 55; 55th percentile among comparable filings
Growth
- Program expense growth: 2.8% per year; rating input score 100; 20th percentile among comparable filings
- Revenue growth: 3.7% per year; rating input score 100; 29th percentile among comparable filings
- Asset growth: 3% per year; rating input score 100; 21st percentile among comparable filings
Details
- Where the money goes: 80.9% of revenue deployed · 87.4% of spending went to programs
- Governance: 19 of 19 board members independent · 9 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $137.5M in reported program spending
- Leadership: top reported pay $355K · 30 people listed · 5 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $5.4M reported
- Consistency: 32 of 32 current checks pass
- Schedules: 7 filed schedules · includes major donors, executive pay, and related organizations
- Filing history: 16 filing years from 2009 to 2024
- Contacts: How to reach this organization
- Money network: 11 filed money-flow records
- Related organizations: 1 filed related-organization link
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Moderate — Sustainability: Total-asset coverage ratio scored 41/100.
- Review — Sustainability: Officer compensation ratio scored 55/100.