Petersburg Library Foundation Inc

Analysis

Petersburg Library Foundation Inc is a registered charity in United States, based in Petersburg, VA. It received its IRS tax-exemption ruling in October 2003, 23 years ago. Its declared purposes cover education, which this site groups under education and training. 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 December 2023, Petersburg Library Foundation Inc reported income of $417k and spending of $336k, spending 81% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $808k to $417k (-48%), an average of -15% a year. The sharpest change came in the year to December 2021, when income rose by 178%. Over the whole period it spent 321% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Petersburg Library Foundation Inc sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 67th percentile within VA. Charities of a similar size with the same main cause include Reach Newtown Inc ($417k), Brooklyn Beans Inc ($417k) and Darrelle Revis Foundation Inc ($416k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 40% and program service revenue 60% of the total. Other salaries and wages came to $87k. At year end it held assets of $264k against liabilities of $16k, net assets of $248k. It reported 5 employees.