Friends of the Largo Library Inc

Analysis

Friends of the Largo Library Inc is a registered charity in United States, based in Largo, FL. It received its IRS tax-exemption ruling in May 1994, 32 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 December 2023, Friends of the Largo Library Inc reported income of $173k and spending of $66k, leaving 62% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income fell from $184k to $173k (-5.7%), an average of -5.7% a year. Over the whole period it spent 30% 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 Largo Library Inc sits at the 49th percentile: it is larger than about 49% of them. Against every charity in United States with reported income it ranks in the 51st percentile, and in the 54th percentile within FL. Charities of a similar size with the same main cause include Community Reinvestment Foundation- XI Inc ($173k), Scenic Texas Inc ($173k) and Tully Hill Foundation ($173k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 53% of the total. At year end it held assets of $513k against liabilities of $0, net assets of $513k.