Friends of the Belmont Public Library Incorporated

Analysis

Friends of the Belmont Public Library Incorporated is a registered charity in United States, based in Belmont, MA. It received its IRS tax-exemption ruling in January 1995, 31 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 August 2023, Friends of the Belmont Public Library Incorporated reported income of $83k and spending of $61k, leaving 27% of income unspent that year. Across the 2 years on record, from August 2022 to August 2023, income grew from $81k to $83k (+3.1%), an average of +3.1% a year. Over the whole period it spent 66% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Friends of the Belmont Public Library Incorporated sits at the 35th percentile: it is larger than about 35% of them. Against every charity in United States with reported income it ranks in the 32nd percentile, and in the 40th percentile within MA. Charities of a similar size with the same main cause include Yakima Valley Visitors & Convention Foundation ($83k), Spring Grove Music Boosters ($83k) and Alliance for Trail Vehicles of Maine ($83k).

On its Form 990-EZ for the period ending August 2023, revenue came from contributions and grants 31% of the total. At year end it held assets of $210k against liabilities of $61, net assets of $210k.