Friends of the Troy Public Library

Analysis

Friends of the Troy Public Library is a registered charity in United States, based in Troy, MI. It received its IRS tax-exemption ruling in June 1964, 62 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 2024, Friends of the Troy Public Library reported income of $96k and spending of $72k, leaving 25% of income unspent that year. Across the 2 years on record, from June 2023 to June 2024, income grew from $95k to $96k (+1.0%), an average of +1.0% a year. Over the whole period it spent 85% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Friends of the Troy Public Library sits at the 38th percentile: it is larger than about 38% of them. Against every charity in United States with reported income it ranks in the 36th percentile, and in the 35th percentile within MI. Charities of a similar size with the same main cause include The Newburyport Parent Teacher Organization ($96k), Lifelong Learning at Pebblecreek ($96k) and Schenkel E-Z Go Invitational Inc ($96k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 29% and program service revenue 55% of the total. At year end it held assets of $530k against liabilities of $1,828, net assets of $528k.