The Library Foundation Inc

Analysis

The Library Foundation Inc is a registered charity in United States, based in Bradenton, FL. It received its IRS tax-exemption ruling in October 1988, 38 years ago. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending May 2023, The Library Foundation Inc reported income of $95k and spending of $304k, spending 319% of what it took in. Across the 5 years on record, from May 2019 to May 2023, income grew from $81k to $95k (+17%), an average of +4.0% a year. The sharpest change came in the year to May 2021, when income rose by 251%. Over the whole period it spent 71% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, The Library Foundation Inc sits at the 35th percentile: it is larger than about 35% of them. Against every charity in United States with reported income it ranks in the 36th percentile, and in the 39th percentile within FL. Charities of a similar size with the same main cause include Mercury Mine Elementary School Parent Teacher Group Inc ($95k), Little League Baseball Inc ($95k) and Parent Booster USA Inc ($95k).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 17% of the total. At year end it held assets of $2.9m against liabilities of $6,388, net assets of $2.9m.