Friends of the Lexington Public Library

Analysis

Friends of the Lexington Public Library is a registered charity in United States, based in Lexington, KY. It received its IRS tax-exemption ruling in October 1972, 54 years ago. 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 the Lexington Public Library reported income of $334k and spending of $320k, spending 96% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $352k to $334k (-5.1%), an average of -1.3% a year. The sharpest change came in the year to June 2023, when income rose by 41%. Over the whole period it spent 101% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Friends of the Lexington Public Library sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 64th percentile within KY. Charities of a similar size with the same main cause include Schlow Library Foundation Inc ($334k), Little League Baseball Inc ($334k) and Dutch School Los Angeles ($334k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 64% and program service revenue 36% of the total. Other salaries and wages came to $61k. At year end it held assets of $189k against liabilities of $705, net assets of $188k. It reported 5 employees.