Friends of the Central Library Inc

Analysis

Friends of the Central Library Inc is a registered charity in United States, based in Syracuse, NY. It received its IRS tax-exemption ruling in October 1993, 33 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 2023, Friends of the Central Library Inc reported income of $332k and spending of $298k, spending 90% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $270k to $332k (+23%), an average of +5.3% a year. The sharpest change came in the year to June 2023, when income rose by 24%. Over the whole period it spent 94% 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 Central Library Inc sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 60th percentile within NY. Charities of a similar size with the same main cause include Ethos School Inc ($332k), Cleveland Empowerment Foundation ($332k) and National Pine Forge Academy Alumni Association ($332k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 63% and program service revenue 37% of the total. Compensation of current officers, directors and key employees was $52k (17% of expenses). Other salaries and wages came to $11k. At year end it held assets of $226k against liabilities of $18k, net assets of $208k. It reported 3 employees.