Friends of the Lynchburg Public Library

Analysis

Friends of the Lynchburg Public Library is a registered charity in United States, based in Lynchburg, VA. It received its IRS tax-exemption ruling in October 1967, 59 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 June 2024, Friends of the Lynchburg Public Library reported income of $107k and spending of $23k, leaving 78% of income unspent that year. Across the 2 years on record, from June 2023 to June 2024, income grew from $40k to $107k (+170%), an average of +170% a year. The sharpest change came in the year to June 2024, when income rose by 170%. Over the whole period it spent 31% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Friends of the Lynchburg Public Library sits at the 38th percentile: it is larger than about 38% of them. Against every charity in United States with reported income it ranks in the 39th percentile, and in the 38th percentile within VA. Charities of a similar size with the same main cause include United Fund of Fairmont Inc ($107k), Friends of the Mountain View Library ($107k) and Friends of Fort Macon Inc ($107k).

On its Form 990-EZ for the period ending June 2024, revenue came from contributions and grants 81% of the total. At year end it held assets of $402k against liabilities of $0, net assets of $402k.