Friends of the Albuquerque Public Library

Analysis

Friends of the Albuquerque Public Library is a registered charity in United States, based in Albuquerque, NM. It received its IRS tax-exemption ruling in July 1970, 56 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 June 2024, Friends of the Albuquerque Public Library reported income of $251k and spending of $230k, spending 92% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $187k to $251k (+34%), an average of +7.7% a year. The sharpest change came in the year to June 2023, when income rose by 111%. Over the whole period it spent 88% 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 Albuquerque Public Library sits at the 58th percentile: it is larger than about 58% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 56th percentile within NM. Charities of a similar size with the same main cause include TNM Foundation ($251k), Sarang Korean School ($251k) and Yes We Can World Foundation ($251k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 13% and program service revenue 64% of the total. Other salaries and wages came to $35k. At year end it held assets of $662k against liabilities of $9,983, net assets of $653k. It reported 2 employees.