Friends of Transylvania County Library

Analysis

Friends of Transylvania County Library is a registered charity in United States, based in Brevard, NC. It received its IRS tax-exemption ruling in October 1989, 37 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 Transylvania County Library reported income of $105k and spending of $95k, spending 90% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $70k to $105k (+50%), an average of +50% a year. The sharpest change came in the year to December 2023, when income rose by 50%. Over the whole period it spent 102% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Friends of Transylvania County Library sits at the 38th percentile: it is larger than about 38% of them. Against every charity in United States with reported income it ranks in the 38th percentile, and in the 36th percentile within NC. Charities of a similar size with the same main cause include Fitchburg Cultural Alliance Inc ($105k), Norman & Elaine Polsky Family Foundation ($105k) and Norman and Barbara Tanner Charitable Support TR II ($105k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 35% of the total. At year end it held assets of $387k against liabilities of $1,290, net assets of $386k.