Friends of the Norfolk Public Library

Analysis

Friends of the Norfolk Public Library is a registered charity in United States, based in Norfolk, VA. It received its IRS tax-exemption ruling in July 1998, 28 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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, Friends of the Norfolk Public Library reported income of $81k and spending of $82k, spending 102% of its income. Across the 3 years on record, from December 2021 to December 2023, income grew from $38k to $81k (+111%), an average of +45% a year. The sharpest change came in the year to December 2022, when income rose by 116%. Over the whole period it spent 107% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Friends of the Norfolk Public Library sits at the 35th percentile: it is larger than about 35% of them. Against every charity in United States with reported income it ranks in the 31st percentile, and in the 31st percentile within VA. Charities of a similar size with the same main cause include TMS West ($81k), Rivkah French Choreography ($81k) and Three Arts Club of Lakewood Ohio ($81k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 69% and program service revenue 19% of the total. At year end it held assets of $532k against liabilities of $0, net assets of $532k.