Friends of the Library

Analysis

Friends of the Library is a registered charity in United States, based in Gainesville, FL. It received its IRS tax-exemption ruling in February 1975, 51 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Friends of the Library reported income of $553k and spending of $439k, leaving 21% of income unspent that year. Across the 5 years on record, from September 2019 to September 2023, income grew from $318k to $553k (+74%), an average of +15% a year. The sharpest change came in the year to September 2022, when income rose by 308%. Over the whole period it spent 82% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Friends of the Library sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 74th percentile within FL. Charities of a similar size with the same main cause include Westside Scouters ($553k), Swannanoa Valley Montessori School ($553k) and East Baton Rouge Parish Association of Educators ($553k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 5.0% and program service revenue 63% of the total. At year end it held assets of $776k against liabilities of $56k, net assets of $720k.