Friends of Lake Forest Library Inc

Analysis

Friends of Lake Forest Library Inc is a registered charity in United States, based in Lake Forest, IL. It received its IRS tax-exemption ruling in May 1976, 50 years ago. 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 September 2023, Friends of Lake Forest Library Inc reported income of $188k and spending of $97k, leaving 48% of income unspent that year. Across the 5 years on record, from September 2019 to September 2023, income grew from $145k to $188k (+29%), an average of +6.7% a year. The sharpest change came in the year to September 2021, when income rose by 600%. Over the whole period it spent 57% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Friends of Lake Forest Library Inc sits at the 51st percentile: it is larger than about 51% of them. Against every charity in United States with reported income it ranks in the 52nd percentile, and in the 53rd percentile within IL. Charities of a similar size with the same main cause include Network Ministries ($188k), Lifespring Residential Services Inc ($188k) and Fosters-Ralph Volunteer Fire Department Inc ($188k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 19% and program service revenue 68% of the total. At year end it held assets of $1.3m against liabilities of $17k, net assets of $1.2m.