Friends of the Teaneck Public Library

Analysis

Friends of the Teaneck Public Library is a registered charity in United States, based in Teaneck, NJ. It received its IRS tax-exemption ruling in May 2014, 12 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 (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, Friends of the Teaneck Public Library reported income of $66k and spending of $33k, leaving 50% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $39k to $66k (+68%), an average of +68% a year. The sharpest change came in the year to December 2023, when income rose by 68%. Over the whole period it spent 54% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Friends of the Teaneck Public Library sits at the 32nd percentile: it is larger than about 32% of them. Against every charity in United States with reported income it ranks in the 26th percentile, and in the 33rd percentile within NJ. Charities of a similar size with the same main cause include Valley Life Foundation Inc ($66k), Christ Lutheran Church Endowment Foundation Inc ($66k) and Midwest Electric Community Connection Fund Inc ($66k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 39% and program service revenue 47% of the total. At year end it held assets of $130k against liabilities of $0, net assets of $130k.