Friends of the Free Library of Philadelphia Inc

Analysis

Friends of the Free Library of Philadelphia Inc is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in September 1974, 52 years ago. Its declared purposes cover education, which this site groups under education and training. 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 Free Library of Philadelphia Inc reported income of $930k and spending of $187k, leaving 80% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $188k to $930k (+394%), an average of +49% a year. The sharpest change came in the year to June 2023, when income rose by 447%. Over the whole period it spent 43% 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 Free Library of Philadelphia Inc sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 77th percentile within PA. Charities of a similar size with the same main cause include LLDC Lubbock Learning Difference Center ($930k), Florida Fund for Minority Teachers Inc ($930k) and East Montgomery County Scholarship Foundation ($930k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 90% and program service revenue 10% of the total. Other salaries and wages came to $110k. At year end it held assets of $1.0m against liabilities of $14k, net assets of $1.0m. It reported 5 employees.