Providence Public Library Foundation

Analysis

Providence Public Library Foundation is a registered charity in United States, based in Providence, RI. It received its IRS tax-exemption ruling in August 2006, 20 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Providence Public Library Foundation reported income of $1.6m and spending of $3.3m, spending 205% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $2.6m to $1.6m (-38%), an average of -11% a year. The sharpest change came in the year to June 2021, when income rose by 1042%. Over the whole period it spent 148% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Providence Public Library Foundation sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 80th percentile within RI. Charities of a similar size with the same main cause include Nashville Public Education Foundation ($1.6m), Read and Write Kalamazoo ($1.6m) and Daytona State College Housing Corporation ($1.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.6% of the total. At year end it held assets of $31.7m against liabilities of $582k, net assets of $31.2m.