Reading Public Library Foundation Inc

Analysis

Reading Public Library Foundation Inc is a registered charity in United States, based in Reading, MA. It received its IRS tax-exemption ruling in March 1997, 29 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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, Reading Public Library Foundation Inc reported income of $351k and spending of $25k, leaving 93% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $373k to $351k (-5.9%), an average of -1.5% a year. The sharpest change came in the year to December 2022, when income rose by 34%. Over the whole period it spent 13% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Reading Public Library Foundation Inc sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 66th percentile within MA. Charities of a similar size with the same main cause include Longview Symphony League ($351k), Cincinnati Boychoir Inc ($351k) and Atlanta Jewish Music Festival ($351k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 82% of the total. At year end it held assets of $2.2m against liabilities of $0, net assets of $2.2m.