West Palm Beach Library Foundation Inc

Analysis

West Palm Beach Library Foundation Inc is a registered charity in United States, based in West Palm Beach, FL. It received its IRS tax-exemption ruling in September 2002, 24 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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, West Palm Beach Library Foundation Inc reported income of $702k and spending of $851k, spending 121% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $411k to $702k (+71%), an average of +14% a year. The sharpest change came in the year to September 2021, when income rose by 134%. Over the whole period it spent 129% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, West Palm Beach Library Foundation Inc sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 77th percentile within FL. Charities of a similar size with the same main cause include Saving Tiny Hearts Society ($702k), Second Stride Inc ($703k) and H G Clay Foundation ($702k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 110% and program service revenue 0.8% of the total. Compensation of current officers, directors and key employees was $154k (18% of expenses). Other salaries and wages came to $164k. At year end it held assets of $5.5m against liabilities of $205k, net assets of $5.3m. It reported 7 employees.