Friends of Florence County Library Inc

Analysis

Friends of Florence County Library Inc is a registered charity in United States, based in Florence, SC. It received its IRS tax-exemption ruling in May 1980, 46 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 December 2023, Friends of Florence County Library Inc reported income of $51k and spending of $58k, spending 114% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $129k to $51k (-60%), an average of -21% a year. The sharpest change came in the year to December 2022, when income dropped by 57%. Over the whole period it spent 67% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Friends of Florence County Library Inc sits at the 19th percentile: it is larger than about 19% of them. Against every charity in United States with reported income it ranks in the 20th percentile, and in the 26th percentile within SC. Charities of a similar size with the same main cause include Alano Society of Mankato Inc ($51k), Murray Parents Association ($51k) and Wayland Union Education Enrichment Foundation ($51k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 60% and program service revenue 6.0% of the total. At year end it held assets of $841k against liabilities of $0, net assets of $841k.