Friends of the Waterloo Public Library

Analysis

Friends of the Waterloo Public Library is a registered charity in United States, based in Waterloo, IA. It received its IRS tax-exemption ruling in August 1982, 44 years ago. 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 October 2023, Friends of the Waterloo Public Library reported income of $74k and spending of $29k, leaving 61% of income unspent that year. Across the 3 years on record, from October 2021 to October 2023, income grew from $73k to $74k (+2.0%), an average of +1.0% a year. Over the whole period it spent 85% 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 Waterloo Public 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 27th percentile within IA. Charities of a similar size with the same main cause include Fairfield Chapter of the Fairfield Industrial School Alumni Associati ($74k), Little League Baseball Inc ($74k) and Jesus Loves You International ($74k).

On its Form 990-EZ for the period ending October 2023, revenue came from contributions and grants 22% and program service revenue 57% of the total. At year end it held assets of $197k against liabilities of $0, net assets of $197k.