Cleveland Public Library Foundation

Analysis

Cleveland Public Library Foundation is a registered charity in United States, based in Cleveland, OH. It received its IRS tax-exemption ruling in April 1959, 67 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Cleveland Public Library Foundation reported income of $2.0m and spending of $410k, leaving 79% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $460k to $2.0m (+333%), an average of +44% a year. The sharpest change came in the year to December 2023, when income rose by 184%. Over the whole period it spent 48% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Cleveland Public Library Foundation sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 86th percentile within OH. Charities of a similar size with the same main cause include Bettis Preparatory School Incorporated ($2.0m), Medical Alumni Association of the University of Maryland Inc ($2.0m) and Hagerstown Community College Foundation Inc ($2.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% and program service revenue 2.0% of the total. At year end it held assets of $2.5m against liabilities of $56k, net assets of $2.4m.