Library Foundation of New Hanover County

Analysis

Library Foundation of New Hanover County is a registered charity in United States, based in Wilmington, NC. It received its IRS tax-exemption ruling in March 2004, 22 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 December 2023, Library Foundation of New Hanover County reported income of $103k and spending of $75k, leaving 27% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $83k to $103k (+24%), an average of +5.6% a year. The sharpest change came in the year to December 2023, when income rose by 125%. Over the whole period it spent 61% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Library Foundation of New Hanover County sits at the 40th percentile: it is larger than about 40% of them. Against every charity in United States with reported income it ranks in the 38th percentile, and in the 35th percentile within NC. Charities of a similar size with the same main cause include University High School Titan Boosters Club ($103k), Team Nelson Inc ($103k) and JV Washam Elementary PTO ($103k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 18% of the total. At year end it held assets of $1.0m against liabilities of $0, net assets of $1.0m.