Libraries of Love

Analysis

Libraries of Love is a registered charity in United States, based in Round Rock, TX. It received its IRS tax-exemption ruling in October 2005, 21 years ago. Its declared purposes cover education, which this site groups under education and training. 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 July 2024, Libraries of Love reported income of $139k and spending of $168k, spending 121% of what it took in. Across the 2 years on record, from July 2023 to July 2024, income fell from $175k to $139k (-21%), an average of -21% a year. The sharpest change came in the year to July 2024, when income dropped by 21%. Over the whole period it spent 99% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Libraries of Love sits at the 47th percentile: it is larger than about 47% of them. Against every charity in United States with reported income it ranks in the 45th percentile, and in the 49th percentile within TX. Charities of a similar size with the same main cause include Sebastopol Rotary Education Foundation Inc ($139k), Cornish Foundation ($139k) and Oklahoma Educational Memorial Trust Foundation ($139k).

On its Form 990-EZ for the period ending July 2024, revenue came from contributions and grants 98% of the total. At year end it held assets of $82k against liabilities of $0, net assets of $82k.