Bike Library Inc

Analysis

Bike Library Inc is a registered charity in United States, based in Iowa City, IA. It received its IRS tax-exemption ruling in February 2015, 11 years ago. Its declared purposes cover public and societal benefit, which this site groups under other charitable purposes. 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 December 2023, Bike Library Inc reported income of $336k and spending of $243k, leaving 28% of income unspent that year. Across the 3 years on record, from December 2021 to December 2023, income grew from $185k to $336k (+82%), an average of +35% a year. The sharpest change came in the year to December 2022, when income rose by 50%. Over the whole period it spent 79% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Bike Library Inc sits at the 62nd 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 66th percentile within IA. Charities of a similar size with the same main cause include Irmandade Da Festa Do Divino ($336k), Legado de Esperanza Foundation ($336k) and Los Alamos Arts Council ($336k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 36% and program service revenue 18% of the total. Compensation of current officers, directors and key employees was $57k (24% of expenses). Other salaries and wages came to $67k. At year end it held assets of $575k against liabilities of $319k, net assets of $256k. It reported 3 employees.