Friends of the Westfield Memorial Library

Analysis

Friends of the Westfield Memorial Library is a registered charity in United States, based in Westfield, NJ. It received its IRS tax-exemption ruling in July 1974, 52 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 Westfield Memorial Library reported income of $66k and spending of $39k, leaving 41% of income unspent that year. Across the 2 years on record, from June 2022 to June 2023, income grew from $44k to $66k (+52%), an average of +52% a year. The sharpest change came in the year to June 2023, when income rose by 52%. Over the whole period it spent 64% 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 Westfield Memorial Library sits at the 26th percentile: it is larger than about 26% of them. Against every charity in United States with reported income it ranks in the 26th percentile, and in the 33rd percentile within NJ. Charities of a similar size with the same main cause include Ozark Highlands Trail Association of Washington County Arkansas ($66k), Leadership Fauquier ($66k) and Project Support Inc ($66k).

On its Form 990-EZ for the period ending June 2023, revenue came from contributions and grants 9.1% of the total. At year end it held assets of $392k against liabilities of $1,000, net assets of $391k.