Friends of Libraries and Literacy Inc

Analysis

Friends of Libraries and Literacy Inc is a registered charity in United States, based in Midland, TX. It received its IRS tax-exemption ruling in February 1952, 74 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, Friends of Libraries and Literacy Inc reported income of $80k and spending of $92k, spending 116% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income grew from $72k to $80k (+11%), an average of +5.4% a year. Over the whole period it spent 107% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Friends of Libraries and Literacy Inc sits at the 34th percentile: it is larger than about 34% of them. Against every charity in United States with reported income it ranks in the 31st percentile, and in the 33rd percentile within TX. Charities of a similar size with the same main cause include Carnation Elementary P T S a King County 2-16-5 ($80k), Harbor Christian High School ($80k) and Fort Zumwalt Public School Education Foundation ($80k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 8.5% of the total. At year end it held assets of $496k against liabilities of $0, net assets of $496k.