Rochester Public Library Foundation

Analysis

Rochester Public Library Foundation is a registered charity in United States, based in Rochester, MN. It received its IRS tax-exemption ruling in February 1997, 29 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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, Rochester Public Library Foundation reported income of $277k and spending of $266k, spending 96% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $258k to $277k (+7.4%), an average of +1.8% a year. The sharpest change came in the year to December 2021, when income rose by 19%. Over the whole period it spent 78% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Rochester Public Library Foundation sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 59th percentile within MN. Charities of a similar size with the same main cause include Cohnreznick Foundation Inc ($277k), Northeast Pennsylvania Lions Service Foundation Inc ($277k) and Do Good 4 Co ($277k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 58% of the total. Compensation of current officers, directors and key employees was $49k (18% of expenses). Other salaries and wages came to $36k. At year end it held assets of $3.9m against liabilities of $0, net assets of $3.9m. It reported 2 employees.