Friends of the Library-Southport Oak Island

Analysis

Friends of the Library-Southport Oak Island is a registered charity in United States, based in Southport, NC. It received its IRS tax-exemption ruling in November 1999, 27 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 Library-Southport Oak Island reported income of $84k and spending of $85k, spending 101% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $64k to $84k (+31%), an average of +31% a year. The sharpest change came in the year to December 2023, when income rose by 31%. Over the whole period it spent 95% 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 Library-Southport Oak Island 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 32nd percentile, and in the 30th percentile within NC. Charities of a similar size with the same main cause include Oakwood Band Parents Association ($84k), Madison County Foundation for Excellence in Education Inc ($84k) and Crawford County Family Connection Inc ($84k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 86% of the total. At year end it held assets of $44k against liabilities of $0, net assets of $44k.