Friends of the Ocala Public Library Inc

Analysis

Friends of the Ocala Public Library Inc is a registered charity in United States, based in Ocala, FL. It received its IRS tax-exemption ruling in February 1982, 44 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 September 2023, Friends of the Ocala Public Library Inc reported income of $127k and spending of $117k, spending 92% of its income. Across the 5 years on record, from September 2019 to September 2023, income fell from $728k to $127k (-83%), an average of -35% a year. The sharpest change came in the year to September 2022, when income rose by 161%. Over the whole period it spent 32% 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 Ocala Public Library Inc sits at the 42nd percentile: it is larger than about 42% of them. Against every charity in United States with reported income it ranks in the 43rd percentile, and in the 47th percentile within FL. Charities of a similar size with the same main cause include USA Foundation ($127k), Adams County Historical Society Inc ($127k) and United Way of Clinton County Inc ($127k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 25% of the total. At year end it held assets of $1.2m against liabilities of $296, net assets of $1.2m.