Friends of the Needham Public Library Inc

Analysis

Friends of the Needham Public Library Inc is a registered charity in United States, based in Needham, MA. It received its IRS tax-exemption ruling in March 1977, 49 years ago. 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 May 2024, Friends of the Needham Public Library Inc reported income of $105k and spending of $99k, spending 94% of its income. Across the 2 years on record, from May 2023 to May 2024, income fell from $166k to $105k (-36%), an average of -36% a year. The sharpest change came in the year to May 2024, when income dropped by 36%. Over the whole period it spent 80% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Friends of the Needham Public Library Inc sits at the 38th percentile: it is larger than about 38% of them. Against every charity in United States with reported income it ranks in the 38th percentile, and in the 45th percentile within MA. Charities of a similar size with the same main cause include Bilingual Broadcasting Foundation Inc ($105k), Little League Baseball Inc ($105k) and Wilson Crisis Center Inc ($105k).

On its Form 990-EZ for the period ending May 2024, revenue came from contributions and grants 16% and program service revenue 80% of the total. At year end it held assets of $149k against liabilities of $0, net assets of $149k.