BROOKLYN PUBLIC LIBRARY
Mission Statement
Brooklyn Public Library is among the borough’s most democratic civic institutions, serving patrons in every neighborhood and from every walk of life. Established in 1896, BPL is one of the nation’s largest public library systems and currently has more than 620,000 active cardholders. With a branch library within a half-mile of the majority of Brooklyn’s 2.7 million residents, BPL is a recognized leader in cultural offerings, literacy, out-of-school-time services, workforce development programs, and digital literacy. In a borough of wide economic disparity, where the costs of basic necessities often take priority over spending on cultural enrichment opportunities, BPL provides a democratic space where patrons of all economic standings can avail themselves and their children of cultural and educational programs in a broad range of disciplines.
Financial Overview — FY 2023
Compared with Peers
FY 2023| Ratio | This org | Peer median | Position (P10 → P90) | |
|---|---|---|---|---|
|
Program expense ratio
Program expenses / total expenses
· higher is better
|
88.6% | 87.4% |
P10P90
|
Above median |
|
Admin expense ratio
Management and general / total expenses
· lower is better
|
8.3% | 10.5% |
P10P90
|
Above median |
|
Fundraising expense ratio
Fundraising expenses / total expenses
· lower is better
|
3.1% | 1.3% |
P10P90
|
Bottom quarter |
|
Operating reserve
Months of expenses covered by net assets
· higher is better
|
11.6 mo | 20.3 mo |
P10P90
|
Below median |
|
Liabilities to assets
Total liabilities / total assets
· lower is better
|
24.3% | 27.0% |
P10P90
|
Above median |
|
Revenue concentration
Share of revenue from the largest source
· lower is better
|
98.3% | 84.6% |
P10P90
|
Bottom quarter |
|
Revenue growth
Year over year revenue growth
|
-9.1% | -2.0% |
P10P90
|
|
|
Expense growth
Year over year expense growth
|
14.2% | 5.9% |
P10P90
|
|
|
Surplus margin
Surplus as a share of revenue
|
-0.7% | 1.3% |
P10P90
|
Financial History
| Year | Revenue | Expenses | Net Assets | Program % | Staff |
|---|---|---|---|---|---|
| 2023 | $163.2M | $164.3M | $158.6M | 88.6% | 1662 |
| 2022 | $179.4M | $143.9M | $141.4M | 87.6% | 1361 |
| 2021 | $166.9M | $138.9M | N/A | — | 1426 |
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