The Friends of the Commerce Public Library

Analysis

The Friends of the Commerce Public Library is a registered charity in United States, based in Commerce, TX. It received its IRS tax-exemption ruling in December 2023, 3 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 September 2023, The Friends of the Commerce Public Library reported income of $166k and spending of $187k, spending 113% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $132k to $166k (+25%), an average of +5.8% a year. The sharpest change came in the year to September 2022, when income rose by 67%. Over the whole period it spent 104% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, The Friends of the Commerce Public Library sits at the 48th percentile: it is larger than about 48% of them. Against every charity in United States with reported income it ranks in the 50th percentile, and in the 53rd percentile within TX. Charities of a similar size with the same main cause include Strongsville Soccer Organization Inc ($166k), Ptsa Connecticut Inc ($166k) and Franklin Community Schools Band Boosters Inc ($166k).

On its Form 990-EZ for the period ending September 2023, revenue came from contributions and grants 63% and program service revenue 2.2% of the total. At year end it held assets of $265k against liabilities of $0, net assets of $265k.