Monterey Park Library Foundation

Analysis

Monterey Park Library Foundation is a registered charity in United States, based in Monterey Park, CA. It received its IRS tax-exemption ruling in March 1986, 40 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, Monterey Park Library Foundation reported income of $72k and spending of $21k, leaving 71% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $27k to $72k (+167%), an average of +167% a year. The sharpest change came in the year to December 2023, when income rose by 167%. Over the whole period it spent 36% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Monterey Park Library Foundation sits at the 28th percentile: it is larger than about 28% of them. Against every charity in United States with reported income it ranks in the 28th percentile, and in the 30th percentile within CA. Charities of a similar size with the same main cause include Urban League of Rochester Economic Development Corporation ($72k), Volunteers for Literacy of Crawford County ($72k) and National Black Nurses Associaion Inc ($72k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $85k against liabilities of $0, net assets of $85k.