Friends of the West Bloomfield Township Library

Analysis

Friends of the West Bloomfield Township Library is a registered charity in United States, based in W Bloomfield, MI. It received its IRS tax-exemption ruling in June 1961, 65 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 May 2024, Friends of the West Bloomfield Township Library reported income of $75k and spending of $87k, spending 116% of what it took in. Across the 5 years on record, from May 2020 to May 2024, income grew from $38k to $75k (+96%), an average of +18% a year. The sharpest change came in the year to May 2022, when income rose by 489%. Over the whole period it spent 126% 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 West Bloomfield Township Library sits at the 29th percentile: it is larger than about 29% of them. Against every charity in United States with reported income it ranks in the 29th percentile, and in the 29th percentile within MI. Charities of a similar size with the same main cause include The Taunton Fire Company ($75k), Online Meditation Events Inc ($75k) and Action Centered Tutoring Services ($75k).

On its Form 990 for the period ending May 2024, revenue came from contributions and grants 50% of the total. At year end it held assets of $135k against liabilities of $0, net assets of $135k.