Library Foundation of Burke County Inc

Analysis

Library Foundation of Burke County Inc is a registered charity in United States, based in Morganton, NC. It received its IRS tax-exemption ruling in April 2002, 24 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 2024, Library Foundation of Burke County Inc reported income of $348k and spending of $156k, leaving 55% of income unspent that year. Across the 5 years on record, from June 2020 to June 2024, income grew from $172k to $348k (+102%), an average of +19% a year. The sharpest change came in the year to June 2024, when income rose by 56%. Over the whole period it spent 68% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Library Foundation of Burke County Inc sits at the 63rd percentile: it is larger than about 63% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 63rd percentile within NC. Charities of a similar size with the same main cause include Central Minnesota Area Sheet Metal Jatc ($347k), Oaktown Jazz Workshop ($348k) and Union Library Company of Hatboro ($347k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 79% and program service revenue 3.2% of the total. Compensation of current officers, directors and key employees was $1,692 (1.1% of expenses). At year end it held assets of $1.1m against liabilities of $0, net assets of $1.1m. It reported 1 employees.