Friends of the Venice Public Library Inc

Analysis

Friends of the Venice Public Library Inc is a registered charity in United States, based in Venice, FL. It received its IRS tax-exemption ruling in February 2024, 2 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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 September 2023, Friends of the Venice Public Library Inc reported income of $119k and spending of $102k, spending 86% of its income. Across the 5 years on record, from September 2019 to September 2023, income fell from $361k to $119k (-67%), an average of -24% a year. The sharpest change came in the year to September 2021, when income rose by 101%. Over the whole period it spent 44% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Friends of the Venice Public Library Inc sits at the 46th percentile: it is larger than about 46% of them. Against every charity in United States with reported income it ranks in the 41st percentile, and in the 45th percentile within FL. Charities of a similar size with the same main cause include Squiers Point Historians of Lebanon Township Inc ($119k), Montavilla Jazz Festival ($119k) and Bridges to Prosperity Northern Illinois ($119k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 26% and program service revenue 41% of the total. At year end it held assets of $1.3m against liabilities of $1,900, net assets of $1.3m.