Worcester Public Library Foundation

Analysis

Worcester Public Library Foundation is a registered charity in United States, based in Worcester, MA. It received its IRS tax-exemption ruling in February 2004, 22 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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, Worcester Public Library Foundation reported income of $356k and spending of $212k, leaving 41% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income fell from $973k to $356k (-63%), an average of -22% a year. The sharpest change came in the year to June 2020, when income rose by 297%. Over the whole period it spent 71% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Worcester Public Library Foundation sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 66th percentile within MA. Charities of a similar size with the same main cause include Aspire India Inc ($356k), The Maurice C LA Grua Center Inc ($357k) and Our Lady of Fatima Villa Foundation ($356k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 81% of the total. Other salaries and wages came to $80k. At year end it held assets of $2.1m against liabilities of $1,828, net assets of $2.1m. It reported 2 employees.