Friends of the Fairhope Library

Analysis

Friends of the Fairhope Library is a registered charity in United States, based in Fairhope, AL. It received its IRS tax-exemption ruling in September 1972, 54 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 Fairhope Library reported income of $374k and spending of $67k, leaving 82% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income fell from $515k to $374k (-27%), an average of -27% a year. The sharpest change came in the year to December 2023, when income dropped by 27%. Over the whole period it spent 18% 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 Fairhope Library sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 68th percentile within AL. Charities of a similar size with the same main cause include National Association of Housing & Redevelopment Officials ($374k), Challenged Childrens Charities ($374k) and Howard College Foundation ($374k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 8.2% of the total. At year end it held assets of $776k against liabilities of $234, net assets of $776k.