Friends of the Chesterfield County Public Library

Analysis

Friends of the Chesterfield County Public Library is a registered charity in United States, based in Midlothian, VA. It received its IRS tax-exemption ruling in April 1982, 44 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Friends of the Chesterfield County Public Library reported income of $146k and spending of $141k, spending 97% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $220k to $146k (-34%), an average of -9.7% a year. The sharpest change came in the year to December 2020, when income dropped by 53%. Over the whole period it spent 103% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Friends of the Chesterfield County Public Library sits at the 48th percentile: it is larger than about 48% of them. Against every charity in United States with reported income it ranks in the 46th percentile, and in the 46th percentile within VA. Charities of a similar size with the same main cause include Aci-Na Educational Foundation ($146k), Central Montcalm Community Foundation ($146k) and Wilmington Area Band Boosters Inc ($146k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 32% and program service revenue 68% of the total. At year end it held assets of $207k against liabilities of $0, net assets of $207k.