Friends of LBS Inc

Analysis

Friends of LBS Inc is a registered charity in United States, based in N Myrtle BCH, SC. It received its IRS tax-exemption ruling in June 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 December 2021, Friends of LBS Inc reported income of $826k and spending of $567k, leaving 31% of income unspent that year. Across the 3 years on record, from December 2019 to December 2021, income fell from $871k to $826k (-5.2%), an average of -2.6% a year. The sharpest change came in the year to December 2021, when income dropped by 22%. Over the whole period it spent 46% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Friends of LBS Inc sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 81st percentile within SC. Charities of a similar size with the same main cause include WSF Real Estate Inc ($826k), Arizona Council on Economic Education ($826k) and Houston Public Library Foundation Inc ($826k).

On its Form 990 for the period ending December 2021, revenue came from contributions and grants 62% and program service revenue 38% of the total. At year end it held assets of $2.9m against liabilities of $1.7m, net assets of $1.2m.