Friends of the Coronado Public Library

Analysis

Friends of the Coronado Public Library is a registered charity in United States, based in Coronado, CA. It received its IRS tax-exemption ruling in December 1971, 55 years ago. 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 2023, Friends of the Coronado Public Library reported income of $1.5m and spending of $33k, leaving 98% of income unspent that year. Across the 4 years on record, from June 2020 to June 2023, income grew from $102k to $1.5m (+1391%), an average of +146% a year. The sharpest change came in the year to June 2023, when income rose by 1161%. Over the whole period it spent 11% 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 Coronado Public Library sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 84th percentile within CA. Charities of a similar size with the same main cause include Youth for Christ USA Inc ($1.5m), Affordable Housing Preservation Foundation ($1.5m) and Santa Fe Symphony Orchestra & Chorus Inc ($1.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 60% of the total. At year end it held assets of $2.5m against liabilities of $0, net assets of $2.5m.