Friends of the Beaufort County Library

Analysis

Friends of the Beaufort County Library is a registered charity in United States, based in Beaufort, SC. It received its IRS tax-exemption ruling in June 1988, 38 years ago. 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 Beaufort County Library reported income of $70k and spending of $58k, spending 84% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $60k to $70k (+16%), an average of +16% a year. The sharpest change came in the year to December 2023, when income rose by 16%. Over the whole period it spent 82% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Friends of the Beaufort County Library sits at the 27th percentile: it is larger than about 27% of them. Against every charity in United States with reported income it ranks in the 27th percentile, and in the 34th percentile within SC. Charities of a similar size with the same main cause include Port City Patriots ($70k), PTA Georgia Congress ($70k) and Racial Justice Network ($70k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 41% of the total. At year end it held assets of $271k against liabilities of $0, net assets of $271k.