Library of Michigan Foundation

Analysis

Library of Michigan Foundation is a registered charity in United States, based in Lansing, MI. It received its IRS tax-exemption ruling in October 1985, 41 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 September 2023, Library of Michigan Foundation reported income of $203k and spending of $314k, spending 154% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $208k to $203k (-2.1%), an average of -0.5% a year. The sharpest change came in the year to September 2021, when income rose by 51%. Over the whole period it spent 93% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Library of Michigan Foundation sits at the 55th percentile: it is larger than about 55% of them. Against every charity in United States with reported income it ranks in the 54th percentile, and in the 54th percentile within MI. Charities of a similar size with the same main cause include Massachusetts Library Association ($203k), Lincoln County Public Education Foundation ($203k) and Jackson Quarterback Club ($203k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 58% of the total. Compensation of current officers, directors and key employees was $107k (34% of expenses). Other salaries and wages came to $6,990. At year end it held assets of $2.2m against liabilities of $4,962, net assets of $2.2m.