Clear Lake Public Library Foundation

Analysis

Clear Lake Public Library Foundation is a registered charity in United States, based in Clear Lake, IA. It received its IRS tax-exemption ruling in August 1984, 42 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 June 2023, Clear Lake Public Library Foundation reported income of $51k and spending of $19k, leaving 62% of income unspent that year. Across the 2 years on record, from June 2022 to June 2023, income grew from $16k to $51k (+227%), an average of +227% a year. The sharpest change came in the year to June 2023, when income rose by 227%. Over the whole period it spent 53% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Clear Lake Public Library Foundation sits at the 19th percentile: it is larger than about 19% of them. Against every charity in United States with reported income it ranks in the 20th percentile, and in the 17th percentile within IA. Charities of a similar size with the same main cause include We Are VB ($51k), Mira Theatre Guild ($51k) and Nu Beta Foundation Inc ($51k).

On its Form 990-EZ for the period ending June 2023, revenue came from contributions and grants 83% and program service revenue 3.2% of the total. At year end it held assets of $348k against liabilities of $0, net assets of $348k.