The Friends of the Howard County Library Inc

Analysis

The Friends of the Howard County Library Inc is a registered charity in United States, based in Ellicott City, MD. It received its IRS tax-exemption ruling in October 1981, 45 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 December 2023, The Friends of the Howard County Library Inc reported income of $241k and spending of $235k, spending 98% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $189k to $241k (+28%), an average of +28% a year. The sharpest change came in the year to December 2023, when income rose by 28%. Over the whole period it spent 104% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, The Friends of the Howard County Library Inc sits at the 56th percentile: it is larger than about 56% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 57th percentile within MD. Charities of a similar size with the same main cause include Beauregard Volunteer Fire Dept Inc ($241k), McClelland TB ($241k) and Carmel Cares ($241k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 101% of the total. At year end it held assets of $159k against liabilities of $0, net assets of $159k.