Friends of the Narragansett Library

Analysis

Friends of the Narragansett Library is a registered charity in United States, based in Narragansett, RI. It received its IRS tax-exemption ruling in July 2014, 12 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 October 2023, Friends of the Narragansett Library reported income of $500k and spending of $471k, spending 94% of its income. Across the 4 years on record, from October 2020 to October 2023, income grew from $236k to $500k (+112%), an average of +28% a year. The sharpest change came in the year to October 2022, when income rose by 85%. Over the whole period it spent 100% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Friends of the Narragansett Library sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 66th percentile within RI. Charities of a similar size with the same main cause include Center for Farmworker Families ($500k), Sunshine Childcare Center at Northeastern ($500k) and Brighter Days Grief Center ($500k).

On its Form 990 for the period ending October 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $69k against liabilities of $0, net assets of $69k.