Friends of the Framingham Library Association Inc

Analysis

Friends of the Framingham Library Association Inc is a registered charity in United States, based in Framingham, MA. It received its IRS tax-exemption ruling in January 1986, 40 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Friends of the Framingham Library Association Inc reported income of $71k and spending of $50k, leaving 30% of income unspent that year. Across the 3 years on record, from June 2022 to June 2024, income fell from $76k to $71k (-5.6%), an average of -2.8% a year. The sharpest change came in the year to June 2024, when income dropped by 17%. Over the whole period it spent 66% 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 Framingham Library Association Inc sits at the 28th percentile: it is larger than about 28% of them. Against every charity in United States with reported income it ranks in the 28th percentile, and in the 36th percentile within MA. Charities of a similar size with the same main cause include New Horizons Properties Inc ($71k), James Henry Counseling Associates ($71k) and The Clearing House of Barbour County ($71k).

On its Form 990-EZ for the period ending June 2024, revenue came from contributions and grants 8.6% and program service revenue 72% of the total. At year end it held assets of $247k against liabilities of $0, net assets of $247k.