Library Foundation for Sarasota County Inc

Analysis

Library Foundation for Sarasota County Inc is a registered charity in United States, based in Sarasota, FL. It received its IRS tax-exemption ruling in May 2012, 14 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 June 2024, Library Foundation for Sarasota County Inc reported income of $590k and spending of $722k, spending 122% of what it took in. Across the 6 years on record, from December 2019 to June 2024, income fell from $1.3m to $590k (-55%), an average of -15% a year. The sharpest change came in the year to June 2024, when income rose by 59%. Over the whole period it spent 68% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Library Foundation for Sarasota County Inc sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 75th percentile within FL. Charities of a similar size with the same main cause include Lux Lucis Foundation Inc ($589k), Northland Christian School of Flagstaff ($590k) and Refresh Miami ($589k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 91% of the total. Compensation of current officers, directors and key employees was $124k (17% of expenses). Other salaries and wages came to $118k. At year end it held assets of $5.7m against liabilities of $282k, net assets of $5.4m. It reported 4 employees.