Friends of the Costa Mesa Libraries

Analysis

Friends of the Costa Mesa Libraries is a registered charity in United States, based in Costa Mesa, CA. It received its IRS tax-exemption ruling in February 1998, 28 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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 Costa Mesa Libraries reported income of $54k and spending of $34k, leaving 37% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income fell from $56k to $54k (-4.0%), an average of -4.0% a year. Over the whole period it spent 70% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Friends of the Costa Mesa Libraries sits at the 27th percentile: it is larger than about 27% of them. Against every charity in United States with reported income it ranks in the 21st percentile, and in the 23rd percentile within CA. Charities of a similar size with the same main cause include Henrys Heroes Foundation Inc ($54k), The Hope Foundation of the Mahoning Valley Inc ($54k) and Project People Foundation ($54k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 6.3% of the total. At year end it held assets of $232k against liabilities of $0, net assets of $232k.