Friends of the Lubbock Public Library Inc

Analysis

Friends of the Lubbock Public Library Inc is a registered charity in United States, based in Lubbock, TX. It received its IRS tax-exemption ruling in December 1967, 59 years ago. 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 December 2023, Friends of the Lubbock Public Library Inc reported income of $283k and spending of $245k, spending 87% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $289k to $283k (-2.0%), an average of -0.5% a year. The sharpest change came in the year to December 2021, when income rose by 36%. Over the whole period it spent 80% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Friends of the Lubbock Public Library Inc sits at the 59th percentile: it is larger than about 59% of them. Against every charity in United States with reported income it ranks in the 61st percentile, and in the 65th percentile within TX. Charities of a similar size with the same main cause include Sachem Teen Center Inc ($283k), Biblical Counseling Foundation ($283k) and Belgrade Lakes Association ($283k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% of the total. At year end it held assets of $650k against liabilities of $1,929, net assets of $648k.