Friends of Waltham Public Library Inc

Analysis

Friends of Waltham Public Library Inc is a registered charity in United States, based in Waltham, MA. It received its IRS tax-exemption ruling in August 1986, 40 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 June 2023, Friends of Waltham Public Library Inc reported income of $133k and spending of $96k, leaving 28% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income fell from $193k to $133k (-31%), an average of -8.9% a year. The sharpest change came in the year to June 2022, when income rose by 35%. Over the whole period it spent 48% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Friends of Waltham Public Library Inc sits at the 46th percentile: it is larger than about 46% of them. Against every charity in United States with reported income it ranks in the 44th percentile, and in the 50th percentile within MA. Charities of a similar size with the same main cause include Walton Cheerleading Booster Club Incorporated ($133k), Together for Childhood Network Inc ($133k) and Hispanic Lawyers Scholarship Fund of Illinois ($133k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 18% and program service revenue 3.0% of the total. At year end it held assets of $2.9m against liabilities of $8,971, net assets of $2.9m.