Friends of Buncombe Libraries Inc

Analysis

Friends of Buncombe Libraries Inc is a registered charity in United States, based in Asheville, NC. It received its IRS tax-exemption ruling in November 1995, 31 years ago. Its declared purposes cover education, which this site groups under education and training. 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 2023, Friends of Buncombe Libraries Inc reported income of $157k and spending of $140k, spending 89% of its income. Across the 2 years on record, from June 2022 to June 2023, income fell from $188k to $157k (-17%), an average of -17% a year. The sharpest change came in the year to June 2023, when income dropped by 17%. Over the whole period it spent 66% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Friends of Buncombe Libraries Inc sits at the 49th percentile: it is larger than about 49% of them. Against every charity in United States with reported income it ranks in the 48th percentile, and in the 46th percentile within NC. Charities of a similar size with the same main cause include Microfinance Opportunities Inc ($157k), Neot Ephratah Academy ($157k) and Acacia Elementary School Foundation ($157k).

On its Form 990-EZ for the period ending June 2023, revenue came from contributions and grants 65% of the total. At year end it held assets of $294k against liabilities of $0, net assets of $294k.