Detroit Public Library Friends Foundation Inc

Analysis

Detroit Public Library Friends Foundation Inc is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in September 1943, 83 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 April 2023, Detroit Public Library Friends Foundation Inc reported income of $172k and spending of $488k, spending 283% of what it took in. Across the 5 years on record, from April 2019 to April 2023, income fell from $459k to $172k (-62%), an average of -22% a year. The sharpest change came in the year to April 2021, when income rose by 228%. Over the whole period it spent 103% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Detroit Public Library Friends Foundation Inc sits at the 51st percentile: it is larger than about 51% of them. Against every charity in United States with reported income it ranks in the 50th percentile, and in the 50th percentile within MI. Charities of a similar size with the same main cause include New Hope Solebury Education Fund ($172k), Maquoketa Library Corporation ($172k) and Sequoia Parents Association ($172k).

On its Form 990 for the period ending April 2023, revenue came from contributions and grants 35% of the total. Compensation of current officers, directors and key employees was $104k (21% of expenses). Other salaries and wages came to $209k. At year end it held assets of $3.9m against liabilities of $15k, net assets of $3.9m. It reported 5 employees.