Friends of the Mathews Memorial Library Inc

Analysis

Friends of the Mathews Memorial Library Inc is a registered charity in United States, based in Mathews, VA. It received its IRS tax-exemption ruling in September 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Friends of the Mathews Memorial Library Inc reported income of $56k and spending of $29k, leaving 49% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income fell from $111k to $56k (-49%), an average of -49% a year. The sharpest change came in the year to December 2023, when income dropped by 49%. Over the whole period it spent 31% 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 Mathews Memorial Library Inc sits at the 25th percentile: it is larger than about 24% of them. Against every charity in United States with reported income it ranks in the 22nd percentile, and in the 21st percentile within VA. Charities of a similar size with the same main cause include Central Valley Chemical Safety Day Committee ($56k), Towson High School Music Boosters Inc ($56k) and Network for Research in Jewish Education Inc ($56k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 76% of the total. At year end it held assets of $526k against liabilities of $0, net assets of $526k.