Friends of the Library S S C

Analysis

Friends of the Library S S C is a registered charity in United States, based in Corning, NY. It received its IRS tax-exemption ruling in July 1963, 63 years ago. 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 December 2023, Friends of the Library S S C reported income of $56k and spending of $52k, spending 93% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $47k to $56k (+19%), an average of +19% a year. The sharpest change came in the year to December 2023, when income rose by 19%. Over the whole period it spent 111% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Friends of the Library S S C sits at the 21st percentile: it is larger than about 21% of them. Against every charity in United States with reported income it ranks in the 22nd percentile, and in the 24th percentile within NY. Charities of a similar size with the same main cause include PTA California Congress of Parents Teachers & Students Inc ($56k), Wisconsin Day Care Administrators ($56k) and American Inns of Court Foundation ($56k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 2.8% of the total. At year end it held assets of $8,878 against liabilities of $0, net assets of $8,878.