Friends and Foundation of the Albany Public Library Inc

Analysis

Friends and Foundation of the Albany Public Library Inc is a registered charity in United States, based in Albany, NY. It received its IRS tax-exemption ruling in July 2002, 24 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Friends and Foundation of the Albany Public Library Inc reported income of $68k and spending of $114k, spending 167% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $187k to $68k (-64%), an average of -64% a year. The sharpest change came in the year to December 2023, when income dropped by 64%. Over the whole period it spent 92% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Friends and Foundation of the Albany Public Library Inc sits at the 29th percentile: it is larger than about 29% of them. Against every charity in United States with reported income it ranks in the 27th percentile, and in the 28th percentile within NY. Charities of a similar size with the same main cause include Fowler Middle School Band Boosters ($68k), Jupiter Farms Community Elementrayparent Teacher Organization ($68k) and Pemi-Baker Literacy ($68k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 47% of the total. At year end it held assets of $57k against liabilities of $6,060, net assets of $51k.