Duluth Library Foundation

Analysis

Duluth Library Foundation is a registered charity in United States, based in Duluth, MN. It received its IRS tax-exemption ruling in August 1995, 31 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 December 2023, Duluth Library Foundation reported income of $337k and spending of $453k, spending 134% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $411k to $337k (-18%), an average of -4.8% a year. The sharpest change came in the year to December 2021, when income rose by 75%. Over the whole period it spent 69% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Duluth Library Foundation sits at the 63rd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 62nd percentile within MN. Charities of a similar size with the same main cause include Mykkids ($337k), Empower and Excel ($337k) and Noahs Ark Preschool Inc ($337k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 81% of the total. Compensation of current officers, directors and key employees was $75k (17% of expenses). Other salaries and wages came to $46k. At year end it held assets of $1.9m against liabilities of $5,905, net assets of $1.9m. It reported 4 employees.