Friends of the Reading Public Library Inc

Analysis

Friends of the Reading Public Library Inc is a registered charity in United States, based in Reading, MA. It received its IRS tax-exemption ruling in November 1994, 32 years ago. Its declared purposes cover education, which this site groups under education and training. 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 Reading Public Library Inc reported income of $54k and spending of $42k, leaving 22% of income unspent that year. Across the 2 years on record, from June 2023 to June 2024, income grew from $31k to $54k (+73%), an average of +73% a year. The sharpest change came in the year to June 2024, when income rose by 73%. Over the whole period it spent 97% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Friends of the Reading Public Library Inc sits at the 23rd percentile: it is larger than about 23% of them. Against every charity in United States with reported income it ranks in the 21st percentile, and in the 30th percentile within MA. Charities of a similar size with the same main cause include Marys Catholic Montessori Training Center ($54k), Columbia United Methodist Preschool Cooperative Nursery School ($54k) and Shelter Island Educational Foundation Inc ($54k).

On its Form 990-EZ for the period ending June 2024, revenue came from contributions and grants 58% of the total. At year end it held assets of $80k against liabilities of $2,259, net assets of $77k.