Friends of the Memphis & Shelby County Public Libraries

Analysis

Friends of the Memphis & Shelby County Public Libraries is a registered charity in United States, based in Cordova, TN. It received its IRS tax-exemption ruling in February 1971, 55 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 Memphis & Shelby County Public Libraries reported income of $432k and spending of $302k, leaving 30% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $414k to $432k (+4.3%), an average of +1.0% a year. The sharpest change came in the year to December 2021, when income rose by 53%. Over the whole period it spent 80% 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 Memphis & Shelby County Public Libraries sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 69th percentile within TN. Charities of a similar size with the same main cause include Friends of Burley ($432k), Fayette Street Educational Foundation ($432k) and Butternut School Scholarship Program ($432k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.2% and program service revenue 84% of the total. At year end it held assets of $761k against liabilities of $52k, net assets of $709k. It reported 3 employees.