Friends of the Library of Lakeland Florida Inc

Analysis

Friends of the Library of Lakeland Florida Inc is a registered charity in United States, based in Lakeland, FL. It received its IRS tax-exemption ruling in December 1985, 41 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 October 2024, Friends of the Library of Lakeland Florida Inc reported income of $55k and spending of $25k, leaving 54% of income unspent that year. Across the 3 years on record, from October 2020 to October 2024, income grew from $22k to $55k (+149%), an average of +58% a year. The sharpest change came in the year to October 2024, when income rose by 60%. Over the whole period it spent 54% 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 Library of Lakeland Florida Inc sits at the 21st percentile: it is larger than about 21% of them. Against every charity in United States with reported income it ranks in the 21st percentile, and in the 25th percentile within FL. Charities of a similar size with the same main cause include Little League Baseball Inc ($55k), Chesapeake and Ohio Canal Association Inc ($55k) and Friends of the Library ($55k).

On its Form 990-EZ for the period ending October 2024, revenue came from contributions and grants 21% of the total. At year end it held assets of $126k against liabilities of $0, net assets of $126k.