Red Bank Library Foundation a New Jersey Nonprofit Corporation

Analysis

Red Bank Library Foundation a New Jersey Nonprofit Corporation is a registered charity in United States, based in Red Bank, NJ. It received its IRS tax-exemption ruling in July 2014, 12 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 December 2023, Red Bank Library Foundation a New Jersey Nonprofit Corporation reported income of $60k and spending of $27k, leaving 55% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $22k to $60k (+171%), an average of +171% a year. The sharpest change came in the year to December 2023, when income rose by 171%. Over the whole period it spent 42% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Red Bank Library Foundation a New Jersey Nonprofit Corporation sits at the 26th percentile: it is larger than about 26% of them. Against every charity in United States with reported income it ranks in the 23rd percentile, and in the 31st percentile within NJ. Charities of a similar size with the same main cause include Thomas Balch Library Endowment Foundation ($60k), MV Vision Fellowship Fund ($60k) and Little Owl Foundation for Childhood Education Inc ($60k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 79% of the total. At year end it held assets of $227k against liabilities of $0, net assets of $227k.