Lake Wales Library Association Inc

Analysis

Lake Wales Library Association Inc is a registered charity in United States, based in Lake Wales, FL. It received its IRS tax-exemption ruling in October 1984, 42 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 March 2024, Lake Wales Library Association Inc reported income of $172k and spending of $100k, leaving 42% of income unspent that year. Across the 5 years on record, from March 2020 to March 2024, income grew from $147k to $172k (+17%), an average of +4.1% a year. The sharpest change came in the year to March 2021, when income rose by 35%. Over the whole period it spent 51% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Lake Wales Library Association 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 50th percentile, and in the 54th percentile within FL. Charities of a similar size with the same main cause include Groundswell Center for Local Food and Farming Inc ($172k), Abide and Lead ($172k) and The Becky Walker Science Scholarship Inc ($172k).

On its Form 990 for the period ending March 2024, revenue came from contributions and grants 36% of the total. At year end it held assets of $2.3m against liabilities of $0, net assets of $2.3m.