Friends and Foundation of the Princeton Public Library Inc

Analysis

Friends and Foundation of the Princeton Public Library Inc is a registered charity in United States, based in Princeton, NJ. It received its IRS tax-exemption ruling in January 1998, 28 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a supporting organisation (type i) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2022, Friends and Foundation of the Princeton Public Library Inc reported income of $720k and spending of $747k, spending 104% of its income. Across the 4 years on record, from December 2019 to December 2022, income fell from $1.1m to $720k (-32%), an average of -12% a year. The sharpest change came in the year to December 2020, when income dropped by 61%. Over the whole period it spent 124% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Friends and Foundation of the Princeton Public Library Inc sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 79th percentile within NJ. Charities of a similar size with the same main cause include Mercy Education Foundation ($720k), Oakwell Academy ($720k) and Southern Regional Technical College Foundation Inc ($720k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 36% and program service revenue 22% of the total. At year end it held assets of $15.5m against liabilities of $390k, net assets of $15.1m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.