Overview
What is The Mercantile Library?
The Mercantile Library, located at 414 Walnut Street, Floor 11, Cincinnati, Ohio 45202, is a nonprofit organization with a mission to foster a love for literature and celebrate literary achievements. With around 1,969 members in 2022, it maintains an extensive collection of books and offers a variety of programs and events that cater to readers' interests, both in-person and online. These activities include engaging book discussions, poetry groups, author appearances, and lectures. The organization's core purpose is to inspire and enrich its community by promoting the written word and recognizing literary excellence. As of the provided information, it employs a team of eight individuals dedicated to this mission.
Official website here: www.mercantilelibrary.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81%, Three-Star out of Four Star Rating
The Mercantile Library has received an 81% overall score, which translates to a Three-Star rating, reflecting strong performance in accountability and finance. The rating is based on various factors, with a notable strength being the presence of a majority-independent board, which enhances governance and decision-making processes. The library's fiscal health is also commendable, highlighted by a low liabilities-to-assets ratio of 0.06%, indicating sound financial management.
The organization demonstrates a commitment to transparency and ethical practices, as indicated by the presence of key policies such as conflict of interest and whistleblower policies, all of which scored top marks. Furthermore, the program expense ratio stands at 69.90%, suggesting that a significant portion of expenditures is dedicated to its programs, which is positive for stakeholders.
However, while the library showcases a strong financial profile and governance practices, there may be areas for further improvement in broader community engagement or program impact evaluation. Overall, the Mercantile Library appears to be a well-managed nonprofit with a solid foundation in accountability.
This AI summary has been generated from information found on Charity Navigator.
Is The Mercantile Library legitimate?
The Mercantile Library is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Mercantile Library submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $200,189
Professional Fundraising Fees: $0
Other Salaries and Wages: $361,811
For more financial information, click here
Official website here: www.mercantilelibrary.org
What is the mission statement of The Mercantile Library?
The Mercantile Library, serving as a general library with literary purposes, aims to make a significant impact through literature and ideas. Its members actively promote an interest in the written word and celebrate distinguished literary achievements. The mission of this association is to advance literature and ideas, fostering a community that appreciates and celebrates the finest in literary accomplishments. Throughout the year, the library adds to its comprehensive collection of books, while presenting a diverse array of programs and engaging content for readers, both in person and online. This includes multi-part book discussions, poetry groups, author appearances, and lectures of interest to the general public.
Official website here: www.mercantilelibrary.org
Who is the CEO of The Mercantile Library?
John Faherty is the Executive Dir. of The Mercantile Library.
Official website here: www.mercantilelibrary.org
What is the revenue of The Mercantile Library?
The Mercantile Library's revenue in 2022 was $1,350,440.
Official website here: www.mercantilelibrary.org
Who are the executives of The Mercantile Library and what are their salaries?
The average compensation at The Mercantile Library during 2022 was $70,250. There are 8 employees and 15 volunteers at The Mercantile Library.
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Official website here: www.mercantilelibrary.org
Where can I find the form 990 for The Mercantile Library?
The Mercantile Library's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.mercantilelibrary.org
Learn more at the official website: www.mercantilelibrary.org
Mission Statement of The Mercantile Library
The Mercantile Library, as a general library, is dedicated to literary pursuits. Its members strive to make an impact through literature and ideas, fostering an interest in the written word and commending outstanding literary achievements. The mission of The Mercantile Library is to promote literacy and celebrate the finest in literary accomplishments, thereby advancing this cultural interest.
In line with its mission, The Mercantile Library maintains a substantial collection of books and regularly presents a diverse array of programs and engaging content. These activities cater to readers, either through in-person events or online streaming, and include book discussions, poetry groups, and appearances from renowned authors and lecturers. The library's offerings serve to spark curiosity and encourage a deeper appreciation for literature among its members.
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Impact
October, 2024
The Mercantile Library significantly enriches the literary landscape in Cincinnati, fostering a vibrant community centered around literature and ideas. With approximately 1,969 members, it serves as a hub for engagement, providing a diverse array of programs that promote an appreciation for the written word.
Through activities such as multi-part book discussions, poetry groups, and author appearances, the library creates immersive experiences that deepen understanding and enjoyment of literature. Its commitment to both in-person and online programming ensures that access to literary discussion and community remains open and inclusive.
By continually expanding its core collection and presenting varied events, The Mercantile Library not only enhances the local cultural scene but also celebrates literary achievement, inspiring members and the public alike to explore new ideas and perspectives. Its mission to advance interest in literature has a lasting impact, cultivating a love for reading and learning that resonates throughout the community.
This information is meant to be a general summary of The Mercantile Library. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $541,388
- Program Service Revenue: $109,378
- Gross Receipts: $3,310,645
Assets and Liabilities:
- Total Assets: $6,956,122
- Total Liabilities: $4,567
- Net Assets: $6,951,555
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Literary Events
Revenue
$109,378
Organization Details
Founding Year
2006
Phone
(513) 621-0717Principal Officer
John Faherty
Main Address
414 Walnut Street Floor 11, Cincinnati, OH, 45202
Website
www.mercantilelibrary.orgNTEE Category
Code: B70 - Education
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