Asheboro Public Library Foundation

Analysis

Asheboro Public Library Foundation is a registered charity in United States, based in Asheboro, NC. It received its IRS tax-exemption ruling in February 1952, 74 years ago. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Asheboro Public Library Foundation reported income of $78k and spending of $13k, leaving 83% of income unspent that year. Across the 5 years on record, from June 2020 to June 2024, income grew from $1,990 to $78k (+3830%), an average of +150% a year. The sharpest change came in the year to June 2021, when income rose by 1958%. Over the whole period it spent 65% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Asheboro Public Library Foundation sits at the 30th percentile: it is larger than about 30% of them. Against every charity in United States with reported income it ranks in the 30th percentile, and in the 28th percentile within NC. Charities of a similar size with the same main cause include Clothes to Kids of Fairfield County Inc ($78k), Claremont Symphony Orchestra Association ($78k) and Wabash Street Level Ministries Inc ($78k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 67% of the total. At year end it held assets of $641k against liabilities of $0, net assets of $641k.