Greater Largo Library Foundation

Analysis

Greater Largo Library Foundation is a registered charity in United States, based in Largo, FL. It received its IRS tax-exemption ruling in June 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 September 2023, Greater Largo Library Foundation reported income of $1.8m and spending of $234k, leaving 87% of income unspent that year. Across the 5 years on record, from September 2019 to September 2023, income grew from $515k to $1.8m (+242%), an average of +36% a year. The sharpest change came in the year to September 2023, when income rose by 520%. Over the whole period it spent 50% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Greater Largo Library Foundation sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 87th percentile within FL. Charities of a similar size with the same main cause include Cagc Foundation Inc ($1.8m), Habitat for Humanity International Inc ($1.8m) and Westside Community Development Corporation Inc ($1.8m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 90% of the total. Compensation of current officers, directors and key employees was $52k (22% of expenses). At year end it held assets of $3.4m against liabilities of $42k, net assets of $3.4m. It reported 1 employees.