Trustees and Friends of Freeman Memorial Library

Analysis

Trustees and Friends of Freeman Memorial Library is a registered charity in United States, based in Houston, TX. It received its IRS tax-exemption ruling in May 1966, 60 years ago. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending May 2024, Trustees and Friends of Freeman Memorial Library reported income of $71k and spending of $55k, leaving 22% of income unspent that year. Across the 3 years on record, from May 2022 to May 2024, income grew from $57k to $71k (+25%), an average of +12% a year. The sharpest change came in the year to May 2023, when income rose by 15%. Over the whole period it spent 86% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Trustees and Friends of Freeman Memorial Library sits at the 27th percentile: it is larger than about 27% of them. Against every charity in United States with reported income it ranks in the 28th percentile, and in the 29th percentile within TX. Charities of a similar size with the same main cause include Louise Sloan Rowland Charitable Trust ($71k), Georgia Extension 4-H Foundation ($71k) and Minnesota Quarter Midget Racing Association ($71k).

On its Form 990-EZ for the period ending May 2024, revenue came from contributions and grants 2.7% and program service revenue 84% of the total. At year end it held assets of $210k against liabilities of $0, net assets of $210k.