Grand Rapids Public Library Foundation

Analysis

Grand Rapids Public Library Foundation is a registered charity in United States, based in Grand Rapids, MI. It received its IRS tax-exemption ruling in April 1962, 64 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 June 2023, Grand Rapids Public Library Foundation reported income of $551k and spending of $365k, leaving 34% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $269k to $551k (+105%), an average of +20% a year. The sharpest change came in the year to June 2021, when income rose by 107%. Over the whole period it spent 59% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Grand Rapids Public Library Foundation sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 72nd percentile within MI. Charities of a similar size with the same main cause include New York State Association for College Admission Counseling Inc ($551k), Pantheon Educational Center Inc ($551k) and Minnesota Association of Community Mental Health Programs Inc ($551k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 25% and program service revenue 1.6% of the total. Compensation of current officers, directors and key employees was $50k (14% of expenses). At year end it held assets of $5.7m against liabilities of $13k, net assets of $5.7m. It reported 1 employees.