Galesburg Public Library Foundation

Analysis

Galesburg Public Library Foundation is a registered charity in United States, based in Galesburg, IL. It received its IRS tax-exemption ruling in January 2009, 17 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 2023, Galesburg Public Library Foundation reported income of $857k and spending of $833k, spending 97% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $385k to $857k (+123%), an average of +22% a year. The sharpest change came in the year to December 2021, when income rose by 208%. Over the whole period it spent 112% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Galesburg Public Library Foundation 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 77th percentile within IL. Charities of a similar size with the same main cause include Bainbridge Schools Foundation ($857k), Step-Student Expedition Program Inc ($858k) and Childs Play Learning Center Inc ($857k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 86% of the total. Compensation of current officers, directors and key employees was $21k (2.6% of expenses). At year end it held assets of $3.7m against liabilities of $2,227, net assets of $3.7m. It reported 1 employees.