South Montgomery County Friends of the Library Inc

Analysis

South Montgomery County Friends of the Library Inc is a registered charity in United States, based in The Woodlands, TX. It received its IRS tax-exemption ruling in December 1989, 37 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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, South Montgomery County Friends of the Library Inc reported income of $145k and spending of $165k, spending 114% of what it took in. Across the 4 years on record, from December 2019 to December 2023, income fell from $155k to $145k (-6.2%), an average of -2.1% a year. The sharpest change came in the year to December 2022, when income rose by 135%. Over the whole period it spent 124% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, South Montgomery County Friends of the Library Inc sits at the 51st percentile: it is larger than about 51% of them. Against every charity in United States with reported income it ranks in the 46th percentile, and in the 50th percentile within TX. Charities of a similar size with the same main cause include Noble Charities Foundation ($145k), John T Paolella Family Charitable Foundation ($145k) and Kenilworth United Fund Inc ($145k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 2.5% of the total. At year end it held assets of $233k against liabilities of $878, net assets of $232k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.