Charlotte Mecklenburg Library Foundation

Analysis

Charlotte Mecklenburg Library Foundation is a registered charity in United States, based in Charlotte, NC. It received its IRS tax-exemption ruling in March 2013, 13 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a supporting organisation (type i) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Charlotte Mecklenburg Library Foundation reported income of $4.9m and spending of $2.3m, leaving 53% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income fell from $6.3m to $4.9m (-22%), an average of -5.9% a year. The sharpest change came in the year to June 2020, when income rose by 203%. Over the whole period it spent 15% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Charlotte Mecklenburg Library Foundation sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 93rd percentile within NC. Charities of a similar size with the same main cause include Friends of Chattanooga Prep Inc ($4.9m), Midland Classical Academy ($4.9m) and Queens Yeshiva Ketana Inc ($4.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $53.0m against liabilities of $166k, net assets of $52.9m.