Long Beach Public Library Foundation

Analysis

Long Beach Public Library Foundation is a registered charity in United States, based in Long Beach, CA. It received its IRS tax-exemption ruling in September 1996, 30 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 (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, Long Beach Public Library Foundation reported income of $1.3m and spending of $1.4m, spending 115% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $2.5m to $1.3m (-49%), an average of -16% a year. The sharpest change came in the year to December 2021, when income dropped by 70%. Over the whole period it spent 87% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Long Beach Public Library Foundation sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 83rd percentile within CA. Charities of a similar size with the same main cause include Central Valley Journalism Collaborative ($1.3m), Optometry Giving Sight ($1.3m) and Foundation Financial Officers Group Inc ($1.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 69% of the total. Compensation of current officers, directors and key employees was $145k (10% of expenses). Other salaries and wages came to $321k. At year end it held assets of $11.3m against liabilities of $36k, net assets of $11.3m. It reported 5 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.