Friends of the Library

Analysis

Friends of the Library is a registered charity in United States, based in Sterling HTS, MI. It received its IRS tax-exemption ruling in March 1993, 33 years ago. 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, Friends of the Library reported income of $55k and spending of $35k, leaving 36% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $47k to $55k (+17%), an average of +17% a year. The sharpest change came in the year to December 2023, when income rose by 17%. Over the whole period it spent 70% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Friends of the Library sits at the 21st percentile: it is larger than about 21% of them. Against every charity in United States with reported income it ranks in the 21st percentile, and in the 21st percentile within MI. Charities of a similar size with the same main cause include Palo Verde Valley Senior Citizens - Non Profit Corporation ($55k), Little League Baseball Inc ($55k) and Lowell General Hospital Auxiliary ($55k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 95% of the total. At year end it held assets of $95k against liabilities of $0, net assets of $95k.