Friends of the Knox County Public Library

Analysis

Friends of the Knox County Public Library is a registered charity in United States, based in Knoxville, TN. It received its IRS tax-exemption ruling in March 1977, 49 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 2024, Friends of the Knox County Public Library reported income of $234k and spending of $190k, spending 81% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $153k to $234k (+53%), an average of +8.9% a year. The sharpest change came in the year to June 2023, when income rose by 146%. Over the whole period it spent 85% 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 Knox County Public Library sits at the 55th percentile: it is larger than about 55% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 57th percentile within TN. Charities of a similar size with the same main cause include Oak Lawn Baseball ($234k), Blue Ridge Bartram Trail Conservancy Inc ($234k) and Georgia Association for Gifted Children Inc ($234k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 73% of the total. At year end it held assets of $1.0m against liabilities of $478k, net assets of $571k. It reported 1 employees.