Friends of the Madison Public Library

Analysis

Friends of the Madison Public Library is a registered charity in United States, based in Madison, NJ. It received its IRS tax-exemption ruling in April 1956, 70 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Friends of the Madison Public Library reported income of $98k and spending of $52k, leaving 47% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $100k to $98k (-2.6%), an average of -0.6% a year. The sharpest change came in the year to December 2021, when income rose by 29%. Over the whole period it spent 82% 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 Madison Public Library sits at the 39th percentile: it is larger than about 39% of them. Against every charity in United States with reported income it ranks in the 36th percentile, and in the 44th percentile within NJ. Charities of a similar size with the same main cause include The New Hampshire School of Ballet Boost Club ($98k), Rotary Club of Hinsdale Foundation Inc ($98k) and Indian Dance School ($98k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 49% of the total. At year end it held assets of $280k against liabilities of $0, net assets of $280k.