Libraries First

Analysis

Libraries First is a registered charity in United States, based in Williams Bay, WI. It received its IRS tax-exemption ruling in August 1984, 42 years ago. 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 2023, Libraries First reported income of $154k and spending of $152k, spending 99% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $723k to $154k (-79%), an average of -32% a year. The sharpest change came in the year to June 2020, when income dropped by 50%. Over the whole period it spent 103% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Libraries First sits at the 47th percentile: it is larger than about 47% of them. Against every charity in United States with reported income it ranks in the 48th percentile, and in the 47th percentile within WI. Charities of a similar size with the same main cause include USA Track & Field Inc ($154k), Black Humboldt ($154k) and Lexington West Inc ($154k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.2% and program service revenue 100% of the total. Compensation of current officers, directors and key employees was $69k (45% of expenses). At year end it held assets of $119k against liabilities of $7,630, net assets of $111k. It reported 1 employees.