Carmel-By-The Sea Public Library Foundation

Analysis

Carmel-By-The Sea Public Library Foundation is a registered charity in United States, based in Carmel, CA. It received its IRS tax-exemption ruling in October 1994, 32 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 June 2023, Carmel-By-The Sea Public Library Foundation reported income of $636k and spending of $760k, spending 119% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $740k to $636k (-14%), an average of -3.7% a year. The sharpest change came in the year to June 2022, when income rose by 220%. Over the whole period it spent 49% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Carmel-By-The Sea Public Library Foundation sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 75th percentile within CA. Charities of a similar size with the same main cause include Rape & Suicide Crisis of Southeast Texas Inc ($636k), Methuen Community Television Corp ($636k) and Central Lifesaving and Rescue Squad ($636k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 97% and program service revenue 0.8% of the total. Compensation of current officers, directors and key employees was $188k (25% of expenses). Other salaries and wages came to $33k. At year end it held assets of $11.9m against liabilities of $35k, net assets of $11.9m. It reported 2 employees.