Libraries of Foster Inc

Analysis

Libraries of Foster Inc is a registered charity in United States, based in Foster, RI. It received its IRS tax-exemption ruling in July 2010, 16 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, Libraries of Foster Inc reported income of $284k and spending of $257k, spending 90% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $207k to $284k (+38%), an average of +8.3% a year. The sharpest change came in the year to June 2020, when income rose by 24%. Over the whole period it spent 90% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Libraries of Foster Inc sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 61st percentile, and in the 57th percentile within RI. Charities of a similar size with the same main cause include Foundation for Science and Math Education Inc ($284k), Ipc Education Foundation ($284k) and Elevate Dallas ($284k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 94% and program service revenue 0.3% of the total. Other salaries and wages came to $137k. At year end it held assets of $1.1m against liabilities of $54k, net assets of $1.1m. It reported 11 employees.