The Newport Beach Library Foundation

Analysis

The Newport Beach Library Foundation is a registered charity in United States, based in Newport Beach, CA. It received its IRS tax-exemption ruling in January 1994, 32 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 2024, The Newport Beach Library Foundation reported income of $7.1m and spending of $9.9m, spending 139% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income grew from $625k to $7.1m (+1038%), an average of +63% a year. The sharpest change came in the year to June 2023, when income rose by 271%. Over the whole period it spent 95% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, The Newport Beach Library Foundation sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 94th percentile within CA. Charities of a similar size with the same main cause include Family Star Inc ($7.1m), Georgia Alliance Education Fund Inc ($7.1m) and Foundation Academy Incorporated ($7.1m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 96% and program service revenue 1.6% of the total. Compensation of current officers, directors and key employees was $119k (1.2% of expenses). Other salaries and wages came to $138k. At year end it held assets of $5.9m against liabilities of $2.1m, net assets of $3.8m. It reported 5 employees.