Library Legacy Foundation of the Toledo-Luce County Public Library

Analysis

Library Legacy Foundation of the Toledo-Luce County Public Library is a registered charity in United States, based in Toledo, OH. It received its IRS tax-exemption ruling in February 1990, 36 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, Library Legacy Foundation of the Toledo-Luce County Public Library reported income of $923k and spending of $572k, leaving 38% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.6m to $923k (-44%), an average of -14% a year. The sharpest change came in the year to December 2023, when income rose by 302%. Over the whole period it spent 40% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Library Legacy Foundation of the Toledo-Luce County Public Library sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 79th percentile within OH. Charities of a similar size with the same main cause include Bangor Childrens Home ($923k), Seafood Industry Research Fund Inc ($923k) and Coronado Foundation for the Future Inc ($923k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 84% and program service revenue 17% of the total. At year end it held assets of $11.0m against liabilities of $5,313, net assets of $11.0m.